OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or
the “Company”), a provider of Artificial Intelligence (AI)-based
solutions, announces an initial purchase order from the Israel
Train Company to deploy its AI based Machine Vision system creating
smarter and safer stations.
In a strategic move, omniQ will initiate the
project at three key train stations, setting the stage for a
transformational shift in the way we approach passenger safety and
comfort. This project leverages omniQ's innovative AI-driven
Machine Vision system, which integrates specialized cameras
meticulously positioned across station platforms. Powered by
proprietary AI software, developed using state-of-the-art deep
learning techniques, this system excels in real-time analysis of
captured imagery. This innovative system can potentially be
installed in every platform in trains and subways stations
worldwide creating a significant potential market for OMNIQ.
At the core of this technology is its ability to
generate dynamic 'heat maps,' providing a clear visualization of
passenger density along the platform. Beyond mere data, these heat
maps offer actionable recommendations to station staff and incoming
passengers, guiding them to areas with lower crowd density. This
results in intelligent distribution of passengers that optimizes
platform usage, mitigates cabin overcrowding, and enhances overall
passenger comfort.
In addition, the AI-powered system also observes
passenger behavior, swiftly identifying instances where passengers
cross safety boundaries while awaiting train arrivals, playing a
pivotal role in maintaining passenger safety and preventing
potential accidents.
This multifaceted system promises to be a
game-changer, elevating passenger experiences, fortifying safety
measures, and redefining station management.
Shai Lustgarten, CEO of OMNIQ Corp stated “We
are proud to announce this breakthrough project ordered by the
Government owned Israel Train Company as part of a national effort
to improve the services and safety using Artificial Intelligence.
Our goal is to swiftly demonstrate the tangible benefits of our
system, paving the way for expanded collaborations with the Israel
Train Company and potential deployments in train and subway
stations across the United States and around the world. The
collaboration marks a significant step toward a smarter, safer, and
more efficient future in railway transportation and we look forward
to great success.”
About OMNIQ Corp:
OMNIQ Corp. provides computerized and machine
vision image processing solutions that use patented and proprietary
AI technology to deliver data collection, real-time surveillance
and monitoring for supply chain management, homeland security,
public safety, traffic & parking management, and access control
applications. The technology and services provided by the Company
help clients move people, assets, and data safely and securely
through airports, warehouses, schools, national borders, and many
other applications and environments.
OMNIQ’s customers include government agencies
and leading Fortune 500 companies from several sectors, including
manufacturing, retail, distribution, food and beverage,
transportation and logistics, healthcare, oil, gas, and
chemicals.
The Company currently addresses several
billion-dollar markets, including the Global Safe City market,
forecast to grow to $67.1 billion by 2028, and the Ticketless Safe
Parking market, forecast to grow to $33.5 billion by 2032 and the
fast casual restaurant sector expected to reach $209 billion by
2027.
For more information please
visit www.omniq.com.
Information about Forward-Looking
Statements
“Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995. Statements in this press
release relating to plans, strategies, economic performance and
trends, projections of results of specific activities or
investments, and other statements that are not descriptions of
historical facts may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934.
This release contains “forward-looking
statements” that include information relating to future events and
future financial and operating performance. The words “anticipate”,
“may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,”
“potential” and similar expressions and variations thereof are
intended to identify forward-looking statements. Forward-looking
statements should not be read as a guarantee of future performance
or results and will not necessarily be accurate indications of the
times at, or by, which that performance or those results will be
achieved. Forward-looking statements are based on information
available at the time they are made and/or management’s good faith
belief as of that time with respect to future events and are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Examples of
forward-looking statements include, among others, statements made
in this press release regarding the closing of the private
placement and the use of proceeds received in the private
placement. Important factors that could cause these differences
include, but are not limited to: fluctuations in demand for the
Company’s products particularly during the current health crisis,
the introduction of new products, the Company’s ability to maintain
customer and strategic business relationships, the impact of
competitive products and pricing, growth in targeted markets, the
adequacy of the Company’s liquidity and financial strength to
support its growth, the Company’s ability to manage credit and debt
structures from vendors, debt holders and secured lenders, the
Company’s ability to successfully integrate its acquisitions, and
other information that may be detailed from time-to-time in OMNIQ
Corp.’s filings with the United States Securities and Exchange
Commission. Examples of such forward looking statements in this
release include, among others, statements regarding revenue growth,
driving sales, operational and financial initiatives, cost
reduction and profitability, and simplification of operations. For
a more detailed description of the risk factors and uncertainties
affecting OMNIQ Corp., please refer to the Company’s recent
Securities and Exchange Commission filings, which are available
at https://www.sec.gov. OMNIQ Corp. undertakes no obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
unless otherwise required by law.
Contact Info:IR@omniq.com
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