(TheNewswire)
April 4, 202 4 – TheNewswire - Toronto, Canada – SPARC AI INC. (CSE:SPAI)(OTC:EGTTF) (Frankfurt:5OV0) (“ SPAI ” or the“ Company ”) is pleased to provide an update on operations.
The productization of the SPARC AI intellectualproperty is progressing. During the past month the Company completedthe following development:
Mobile ApplicationImplementation: A mobile application withessential camera functionality has been developed, enablingorientation towards points of interest and data retrieval. Featuresfor capturing location data, including location, heading, and tiltretrieval, have been implemented.
The development team are currently undertakingextensive testing. A process of fine-tuning the algorithms involvesiterative steps, where the setup is carefully configured to simulatereal-world scenarios, particularly those involving heights. Thisiterative approach is necessary to ensure that the algorithms performoptimally under varying conditions and heights. However, due to thecomplexity of the algorithms and the iterative nature of thefine-tuning process, it is inherently time-consuming. Each iterationinvolves adjustments, testing, and analysis to gauge the algorithm'sperformance accurately. This meticulous approach is essential toachieving the desired accuracy and reliability in distance calculationand other functionalities.
Core Library Development: Progress is being made in developing a core library inPython, facilitating third-party integration for seamlessincorporation into devices such as drones and cameras. This libraryenables communication between the mobile application and externaldevices, enhancing data transmission and interaction. Fine-tuning ofthe core library is ongoing to improve accuracy in distancecalculation.
Firmware EnvironmentSetup: The development is working on theintegration into the SPARC AI microchip. Utilizing the DebianLinux-based OS named Mendel for Coral development boards ensuresefficient running of SPARC AI algorithms. Compatible operating systemsfor chosen hardware platforms are being selected to optimize systemperformance.
Interface Development: The Company is working on establishing a robust serialcommunication interface to acquire camera feeds from various externalthird-party devices. This interface acts as a vital bridge, enablingthe transfer of raw camera data to be processed by microchips forprecise distance and location approximation.
SPARC AI is also expecting to take delivery of theCoral microchip boards and Accelerator boards in the next couple ofweeks.
The Company looks forward to providing further updatesto the market including a demonstration of the SPARC mobileapp.
For more information contact:
Website: https://www.sparcai.co
Investor Presentation: ClickHere
Anoosh Manzoori, CEO SPARC AI INC. Email: anoosh@sparcai.net Phone: +61.3.9666338 |
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FORWARD LOOKING INFORMATION
This news release contains forward-looking statementsand forward-looking information within the meaning of applicablesecurities laws. These statements relate to future events or futureperformance. All statements other than statements of historical factmay be forward-looking statements or information.
The Company provides forward-looking statements for thepurpose of conveying information about current expectations and plansrelating to the future and readers are cautioned that such statementsmay not be appropriate for other purposes. By its nature, thisinformation is subject to inherent risks and uncertainties that may begeneral or specific and which give rise to the possibility thatexpectations, forecasts, predictions, projections or conclusions willnot prove to be accurate, that assumptions may not be correct and thatobjectives, strategic goals and priorities will not be achieved. Theserisks and uncertainties include but are not limited those identifiedand reported in the Company’s public filings under the Company’sSEDAR profile at www.sedar.com. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
Accordingly, readers should not place undue reliance onthe forward-looking statements, timelines and information contained inthis news release. Readers are cautioned that the foregoing list offactors, assumptions and exclusions is not exhaustive.
The forward-looking statements and informationcontained in this news release are made as of the date hereof and noundertaking is given to update publicly or revise any forward-lookingstatements or information, whether as a result of new information,future events or otherwise, unless so required by applicablesecurities laws or the Canadian Securities Exchange. Theforward-looking statements or information contained in this newsrelease are expressly qualified by this cautionary statement.
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