JACKSONVILLE, Fla., Feb. 22, 2024 (GLOBE NEWSWIRE) — Duos Technologies Group, Inc. (“Duos” or the “Company”) (NASDAQ:DUOT) through its operating subsidiary Duos Technologies, Inc. a provider of Machine Vision and Artificial Intelligence (“AI”) to analyze fast moving freight, passenger and transit trains, and trucks is pleased to announce the signing of an AI subscription agreement for AI detections, empowering the rail operator to enhance their current railcar inspection capabilities. Additionally, the agreement includes the renewal of their annual services and maintenance contract, which now encompasses expanded support through Duos’ Preventative Maintenance Checks and Services (PMCS) Program and Field Services Support, aimed at further improving the performance of the rail network.
The renewal agreement includes an annual subscription for an array of AI algorithms requested by the client who uses the Duos patented Railcar Inspection Portal (RIP®) and AI to quickly and efficiently detect critical issues that could potentially lead to accidents or derailments. As part of the agreement, Duos will provide maintenance and technical services for their existing RIP®, offering comprehensive support that includes field services to address break/fix issues and onsite preventive maintenance checks and services, along with spare parts provision.
“We are honored to continue our long-standing support for this customer. Our patented Railcar Inspection Portal and AI are now being used by four of the large freight rail carriers in North America. They are seeing benefits in terms of safety, maintenance improvements, and in moving commerce more efficiently from Mexico to the United States and Canada,” said Chuck Ferry, …
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