Breaking Defense Stock News: Patriot One's (TSX: $PAT.TO) (OTCQX: $PTOTF) Xtract.ai Division Secures $975,000 Contract for Department of National Defense
British Columbia-based AI firm to work with Public Works and Government Services Canada
VANCOUVER, BC - February 5, 2020 (Investorideas.com Newswire, Homelanddefensestocks.com) Xtract Technologies Inc. ("Xtract.ai"), a subsidiary of Patriot One Technologies Inc. (TSX: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL), is pleased to announce it has secured a $975,000CAD Contract with Canada's Department of National Defense through the Public Works and Government Services Canada Division.
The contract is for a project related to improving situational awareness for the Canadian Armed Forces ("CAF") and security personnel using video analytics, artificial intelligence and augmented reality. This project will continue previous work completed by Xtract.ai for the CAF to develop technology solutions to augment the situational awareness of their soldiers and address the following challenges:
- detect, recognize, and identify persons or objects of interest in a physical environment, and/or
- track identified persons and objects of interest using seamless information sharing across a decision network.
Work will proceed in multiple phases, including the design, development and deployment of advanced machine learning models, proprietary data sets and integration with advanced visualization hardware.
"We're very excited to leverage the Xtract.ai team's expertise in video analytics, object detection and artificial intelligence with the Canadian Department of National Defense," expresses Martin Cronin, CEO of Patriot One Technologies. "With the work Xtract.ai has be doing with several clients, as well as on Patriot One's PATSCAN Multi-Sensor Covert Threat Detection Platform, the team brings tremendous experience in video analytics and threat object detection and look forward to delivering a high-performing solution that we hope will augment our military personnel in their service to our country."
For more details on the Public Work's DND contract, please visit: https://buyandsell.gc.ca/procurement-data/award-notice/PW-SV1-001-37327-001
The Xtract.ai team is already under way in the project's design and development phase, and will make announcements, as required, on the progress of its efforts in achieving the goals of Canadian Department of National Defense.
About XTRACT TECHNOLOGIES INC - a subsidiary of Patriot One Technologies
Xtract.ai develops and commercializes artificial intelligence, machine learning, deep neural networks and predictive solutions utilizing advanced technology for public institutions and private enterprise. The firm has an award winning, highly skilled team that develops AI solutions to solve challenges across computer vision (CV), natural language processing (NLP), anomaly detection, and time-series analysis for applications ranging from security and defense to environmental solutions and healthcare. For more information on building your AI solution, visit: xtract.ai
About Patriot One Technologies Inc. (TSX:PAT) (OTCQX: PTOTF) (FRA: 0PL):
Patriot Ones' mission is to deliver innovative threat detection and counter-terrorism solutions for safer communities. Our PATSCAN™ Multi-Sensor Covert Threat Detection Platform provides a network of advanced sensor technologies with powerful next generation AI/machine learning software. The network can be covertly deployed from far perimeter to interiors across multiple weapons-restricted facilities. The PATSCAN™ platform identifies and reports threats wherever required; car park, building approach, employee & public entryways and inside the facilities. Each solution in the platform identifies weapons, related threats or disturbances for immediate security response. Our motto Deter, Detect and Defend is based on the belief that widespread use of the PATSCAN™ platform will act as an effective deterrent to diminish the epidemic of active threats around the globe. For more information, visit: www.patriot1tech.com or follow us on Twitter and Facebook.
For further information, please contact:
John Martin, Patriot One Technologies
+1 (888) 728-1332
Scott Ledingham, Patriot One Technologies
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