Class 1 Railroad implements Duos Technologies’ AI models in operations
Duos Technologies Group, Inc., through its operating subsidiary Duos Technologies, Inc. (Duos), has 30 artificial intelligence (AI) models in operations for a Class 1 customer location in Mexico.
The active AI models represent a majority of those that are available in the Company’s AI detection catalogue, all of which work in conjunction with the Federal Railroad Administration’s (FRA) mandated inspection points and provide a toolset for inspectors to identify actual or potential mechanical defects. By early identification of such defects, railroads can improve operational efficiencies including higher throughput and lower costs.
As part of the Company’s exhaustive research strategy to identify AI detection use cases and relieve residual pain points in detection processes for customers, three Class 1 railroads recently met with Duos at its Jacksonville headquarters to provide input to the AI model research and development processes.
Duos designs, develops, deploys and operates intelligent vision based technology solutions supporting rail, logistics, intermodal and government customers to streamline operations, improve safety and reduce costs. The Company provides cutting edge solutions that automate the mechanical and security inspection of fast-moving trains, trucks and automobiles through a broad range of proprietary hardware, software, information technology and AI.
Duos recently released news that it expects to record more than $15 million in revenues for full year 2022 and between $20 million and $21 million for fiscal year 2023. A greater percentage of that revenue is now from high-margin, recurring revenue sources including the AI deployments and related support contracts.
Source: duos tech