Duos RIP® Scans over Eight and a Half Million Railcars in 2023

Duos-Powered AI Scans Assist Railroads with Increasing Safety and Velocity

Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT) through its operating subsidiary Duos Technologies, Inc. a provider of Machine Vision and Artificial Intelligence (“AI”) to analyze fast moving freight, passenger and transit trains and trucks, has reported that in 2023 the Company’s Railcar Inspection Portal (“rip®” or “RIP”) technology performed more than eight and a half million comprehensive railcar scans, on over 665,000 unique railcars.

This metric encompasses all railcars scanned at locations across the U.S., Canada, and Mexico, representing approximately 40% of the total freight car population in North America.

The Company works with freight and passenger rail in North America and is becoming the industry standard for detecting and identifying mechanical issues on railcars. The Company’s major North American railroad clients have multiple systems with artificial intelligence actively running on their rail networks.

Duos recently formalized a long-term partnership with a major Class 1 railroad to proactively develop critical AI solutions to streamline detection of mechanical railcar defects as its equipment traverses North America. The recently awarded long-term contract covers implementation, development and support services of AI on a recurring revenue basis.

Duos Chief Executive Officer Chuck Ferry, said:

“For the past 18 months we have been laser focused on developing our in-house AI capabilities, using professional railroaders and software developers.

“The introduction of our subscription offering which is now in use at major freight and passenger carriers, will help to monetize the growing amount of data that we collect on railcars that pass through our systems and is now starting to deliver results as evidenced by our recent announcement. The growing number of railcar scans continues to improve our data base and give increasing accuracy to our models.”

Duos has been implementing inspection and AI technologies at railroads for more than 13 years and more recently, incorporated professional railroader staff into its in-house development teams.

This article was originally published by Duos Technologies, Inc.

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