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Predictiv AI on track to profit from a more predictable future using artificial intelligence

Last updated: 08:46 11 Mar 2024 EDT, First published: 17:00 28 Oct 2021 EDT

Snapshot

  • Predictiv AI ends its SMRT Labs joint venture with Commersive Solutions
  • Predictiv AI subsidiary Weather Telematics signs contract to outfit 70 Trucks with Alert Fleet
Predictiv AI Inc - on track to profit from a more predictable future using artificial intelligence

About the company

Predictiv AI Inc. is a technology company that helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The company's R&D division, AI Labs Inc., develops new products that solve real-world business problems. A joint venture with Commersive Solutions Corp. is developing innovative technologies for use in various public spaces, starting with the ThermalPass fever detection system.

How it is doing

16 Nov 2021

Predictiv AI Inc (TSX-V:PAI) said it has terminated its SMRT Labs Inc joint venture by transferring the company’s 51% interest to its partner Commersive Solutions Inc. 

The company noted that SMRT Labs, which was tasked to bring Predictiv AI’s ThermalPass fever detection system offering to market, was unable to meet its sale targets as a result of changing regulations and the market landscape for coronavirus (COVID-19) driven solutions despite early sales traction. 

Predictiv AI added that it has decided to focus on its Weather Telematics' Data-As-A-Solution platform, which it says is gaining early traction in weather data science, a rapidly-growing market in the area of predictive analytics. 

The termination agreement released Predictiv AI from all current and future obligations and liabilities related to the joint venture.

14 Jul 2021

Predictiv AI (CVE:PAI) (OTCMKTS:INOTF) (FRA:71TA) said its board of directors has appointed chairman Jim Grimes as interim president and CEO following Michael Lende's resignation effective July 30, 2021.

The technology company said Lende made the “difficult decision” to step down as president, CEO and board director due to personal family matters. He has committed to ensuring a smooth transition of responsibilities over the next few weeks and has agreed to be available for advisory and consulting services, the company added.

03 Jun 2021

Predictiv AI (CVE:PAI) (OTCMKTS:INOTF) (FRA:71TA) CEO Michael Lende said its high-capacity walk-through temperature scanning system, ThermalPass, had received early validation from US schools and hospitals.

ThermalPass is seeing an increase in demand from school districts in North America following a successful installation at one of the largest districts in the state of North Carolina in April.

What management says

30 Apr 2021

Predictiv AI (CVE: PAI- OTC: INOTF) CEO Michael Lende joined Steve Darling from Proactive to bring news the company’s subsidiary, Weather Telematics will be installing the Alert Fleet Road Hazard mobile app in Skelton Truck Line’s 70-vehicle US fleet.

Lende telling Proactive, Alert Fleet is a technology that transmits real-time data that provides local, advanced road-weather hazard alerts to identify dangerous conditions such as black ice, poor visibility, and hydroplaning. Lende says Skelton is also installing sensors in each of the vehicles for accuracy in real-time road weather conditions.

Predictiv AI subsidiary Weather Telematics signs contract to outfit 70...

Predictiv AI (CVE: PAI- OTC: INOTF) CEO Michael Lende joined Steve Darling from Proactive to bring news the company’s subsidiary, Weather Telematics will be installing the Alert Fleet Road Hazard mobile app in Skelton Truck Line’s 70-vehicle US fleet. Lende telling Proactive, Alert Fleet is a...

on 30/4/21