VIS:CC - Visionstate Partners with Global Leader to Drive AI Innovation for WANDA Platform
(TheNewswire)
AI model will revolutionize facilitymanagement
Edmonton, Alberta – May 21, 2024– TheNewswire – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), a leading provider of smart facility managementsolutions, is thrilled to announce a groundbreaking collaboration withthe Alberta Machine Intelligence Institute ( Amii ). This strategicpartnership will propel the WANDA platform into the forefront ofmachine learning (ML) innovation.
The science of ML is advancing at an unprecedentedpace. Amii, a global leader in machineintelligence, brings unparalleled expertise to the table. The workingrelationship will embark on a involve a project validation and productdevelopment process which will solidify Visionstate’s on goingleadership in providing cutting-edge software to the facilitymanagement sector.
Visionstate has identified key areas of its softwareplatform to leverage artificial intelligence to significantly improveoperational efficiencies such as schedule and resource optimization.In working with Amii, Visionstate will utilize the expertise of aworld leader in ML to execute on the Company’s AI strategy.
“We are very excited about working with Amii,”explained Visionstate IoT President Shannon Moore. “The impact ofartificial intelligence will continue to reverberate throughout ourlives and the way we do business. For Visionstate, this is a pivotaldevelopment as we continue to explore and execute on opportunities tointroduce ML in a practical manner.”
The project validation process will dive deeply intothe specifics of the ML project. It will ensure Visionstate’sinitiative is well-defined, validated and ready for model development.
“Project validation de-risks our journey and lays thegroundwork for a successful implementation,” Moore explained.
Market Size and Wide Applicability ofAI in Facility Management
The adoption of AI in facility management is not only astrategic move but also a necessity in today’s dynamic businesslandscape. The global market for AI-driven facility managementsolutions is poised for substantial growth. As businesses recognizethe value of AI in optimizing schedules, resources, and operations,the market size continues to expand.
AI models for schedule and resource optimization enablebusinesses to deploy the right resources at the right time. Whethermanaging staff shifts, allocating machinery, or optimizing supplychains, AI brings speed, flexibility, and intelligence to bear oncomplex problems.
The impact of AI in facility management alsospans many industries ,including healthcare, transportation, finance, retail, manufacturing,education, entertainment, agriculture, and more. By optimizingschedules, resource allocation, and operations, AI unlocks new levelsof efficiency. In terms of business value , AI adoption translatesinto cost savings, improved service delivery, and enhancedcompetitiveness. The global market potential for AI-driven facilitymanagement solutions is substantial, with estimatesreaching billions of dollars .
“Visionstate has a very clear path forward when itcomes to AI and ML technology,” Moore explained. “This projectmeets all of our requirements, including, IP ownership, the fact weare working with one of the leading ML institutes in the world, andthe significant revenue potential this product will provide for ourWANDA platform.”
As part of the Pan-Canadian AI Strategy, Amii’sthreefold mission aligns perfectly with Visionstate’s vision:
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Advancing Research: Amii pushes the frontiers ofmachine-intelligence research, exploring novel algorithms, techniques,and applications.
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Applied Solutions: Their ability to translatescientific breakthroughs into practical business solutions isunmatched.
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Talent Incubation: Amii accelerates the development ofskilled professionals, bridging the gap between academia andindustry.
The validation process is expected to takeapproximately six weeks and will be followed by development of the MLmodel to be integrated with Visionstate’s facility managementsoftware.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-orientedcompany that invests in the research and development of promising newtechnology in the realm of the Internet of Things, big data andanalytics, and sustainability. Visionstate IoTInc. is a wholly owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improveoperational efficiencies, reduce costs, and elevate customersatisfaction with its state-of-the-art devices that track and monitorguest activities and requests. The footprint of its WANDA™ smartdevice now extends to hospitals, airports, shopping centres, and otherpublic facilities across and beyond North America. Through building upa collection of synergistic technologies, Visionstate Corp. willcontinue to innovate, reduce environmental impact and transformconsumer experiences. As an equity partner inSol Spaces, Visionstate Corp. holds approximately 40% ownership in thecompany, reaffirming its commitment to driving social impact andsustainable development through its investment portfolio.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter:
Facebook:
LinkedIn:
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward-Looking Statements
Certain information set forth in this material maycontain forward-looking statements that involve substantial known andunknown risks and uncertainties. All statements other than statementsof historical fact are forward-looking statements, including, withoutlimitation, statements regarding future financial position, businessstrategy, use of proceeds, corporate vision, proposed acquisitions,partnerships, joint-ventures and strategic alliances andco-operations, budgets, cost and plans and objectives of or involvingthe Company. Such forward-looking information reflects management'scurrent beliefs and is based on information currently available tomanagement. Often, but not always, forward-looking statements can beidentified by the use of words such as "plans","expects", "is expected", "budget","scheduled", "estimates", "forecasts","predicts", "intends", "targets","aims", "anticipates" or "believes" orvariations (including negative variations) of such words and phrasesor may be identified by statements to the effect that certain actions"may", "could", "should","would", "might" or "will" be taken,occur or be achieved. A number of known and unknown risks,uncertainties and other factors may cause the actual results orperformance to materially differ from any future results orperformance expressed or implied by the forward-looking information.These forward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of the Companyincluding, but not limited to, the impact of general economicconditions, industry conditions and dependence upon regulatoryapprovals. Readers are cautioned that the assumptions used in thepreparation of such information, although considered reasonable at thetime of preparation, may prove to be imprecise and, as such, unduereliance should not be placed on forward-looking statements. TheCompany does not assume any obligation to update or revise itsforward-looking statements, whether as a result of new information,future events, or otherwise, except as required by securitieslaws.
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