DUOT - Duos Technologies Announces Major Business Expansion | Benzinga
JACKSONVILLE, Fla., June 20, 2024 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. ("Duos" or the "Company") (NASDAQ:DUOT), held a press conference on June 18th, highlighting key developments in its business strategy. The event was attended by local dignitaries, members of the Jacksonville Chamber of Commerce, and key industry stakeholders. The event was also streamed live via the Duos YouTube channel.
CEO Chuck Ferry announced that the Company had signed a strategic partnership with a Class 1 railroad in preparation for rolling out its subscription based railcar inspection system. The System has been under development and is currently in both production and test environments with key railroad operators. It expects to announce more details in the next few weeks but Mr. Ferry disclosed that Amtrak is a current user of the system. Amtrak has engaged Duos to build two sophisticated, high-speed systems expected to be in production early next year and was in the process of shipping the first part of those systems during the event. The system shipped is a specialized Edge data center to handle the massive amounts of AI and data processing and is similar to the Edge Data Centers that will be deployed by Duos new subsidiary. This data center will support the two portals which are capable of performing mechanical analysis of trains at speeds up to 125 MPH, and will deliver actionable safety data within 60 seconds, enhancing safety and efficiency in rail operations.
Mr. Ferry also commented on the depth of experience at Duos including the ability to deploy large, sophisticated projects including the RIP®s, Edge Data Centers and the provision of power infrastructure necessary to support such projects. With these new developments, Duos is now engaged in the fast-growing areas of AI, ...