- Recently rebranded to stress its commitment to artificial intelligence innovation
- Focused on profitable fundamental-growth technology
- Has launched ThermalPass fever detection system to help fight coronavirus
What Predictiv AI does:
Toronto-based Predictiv AI Inc (CVE:PAI) (OTCMKTS:INOTF), formerly Internet of Things Inc, is committed to using its expertise to accelerate artificial intelligence (AI) innovation as it advances AI and machine learning solutions.
The company’s AI Labs Inc subsidiary is its research and development business arm, which uses artificial intelligence sensor-based technology solutions to solve real-world problems.
Predictiv AI also owns data-science company Weather Telematics Inc, which uses a vehicle-mounted mobile Internet of Things (IoT) sensor network and artificial intelligence system to generate historical, current and forecasted weather conditions for road hazard risk alerts.
In addition, the firm's has an 'Alert Fleet' system based on advanced artificial intelligence (AI), deep machine learning and data science. Once deployed in a vehicle, the product will run on a software-as-a-service (SaaS) business model, providing Weather Telematics with monthly recurring revenue proportionate to the number of vehicles within a customer's fleet.
The company has also developed ThermalPass, a fever detection system designed for public spaces during the coronavirus (COVID-19) pandemic, which instantly screens for higher-than-normal body temperatures with an accuracy of 0.36 degrees Fahrenheit, thus identifying possible carriers of the disease. ThermalPass is capable of taking 480 temperature readings per second without encroaching on an individual's privacy or violating social distancing rules.
Predictiv AI is led by CEO Michael Lende, an entrepreneur and business start-up specialist, who launched the ZipCar car-share service in Canada in 2006, growing the Toronto-area membership from zero to over 42,000 and contributing to the parent company's successful IPO in 2011.
How is it doing:
In May 2020, Predictiv AI said it had been granted interim marketing and sales permission by Health Canada for ThermalPass to help battle the spread of COVID-19.
On September 18, the company announced a sales channel, distribution and technology integration partnership with Sigfox Canada for ThermalPass, enabling dependable data transfer through ThermalPass at low cost on the Sigfox Canada network.
Predictiv AI expects this “enhanced functionality” will position ThermalPass to generate “monthly recurring revenue by offering a multitude of enterprise scenarios.” Sigfox is the operator of the global Low Power Wide Area Network (LPWAN), whose chips are used in 16.2 million registered devices across 70 countries.
As well, on October 15, the company announced the commercial launch of its ThermalPass system at Anderson Haulage trucking company in Ontario to screen employees as they enter the facility.
And, in late November 2020, Predictiv AI said it expects to ship its ThermalPass units to five initial orders over the next 45 days.
On the Weather Telematic front, in May the company revealed that it was collaborating with IBI Group (TSE:IBG) to develop the Winter Ice and Snow Decision Support System for Operations Management (WISDOM) platform.
WISDOM is a resource management and decision support tool that uses artificial intelligence to assist in real-time responses to winter snow/ice road clearing operations. Weather Telematics and IBI have partnered with two counties in Ontario to pilot the platform in the winter of 2020-21.
On November 27, the company also reported a sales agreement with fleet technology company inField Solutions to market Alert Fleet in the US and Canada. This agreement is expected to fast track sales of Alert Fleet to inField's extensive customer base - from GPS and fleet software providers to various trucking fleets in the North American market.
On the financial front, Predictiv AI closed a C$1.5 million non-brokered private placement financing on October 8 at a price of $0.18 per share, which the company said will be used to fund the ThermalPass rollout, as well as for AI Labs product development initiatives and general working capital purposes.
- Additional interest in its ThermalPass technology
- Agreements for the Alert Fleet system
- Significant growth expected from Mergers & Acquisition strategy
What the boss says:
Commenting on the company’s pending shipment of its initial ThermalPass orders, Predictiv AI CEO Michael Lende said in a statement: "Over the past few weeks, we have been securing initial orders across Canada and the US for ThermalPass, to meet the critical needs of organizations and businesses that are working to ensure they have the essential systems in place to help mitigate the spread of contagions and enhance the safety of their environments."
He added: "We are encouraged by our internal sales activities and pipeline since our launch and also very excited to be bringing on board channel resellers to penetrate markets in the province of Quebec, across the United States and into Europe."
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