Choo-Choo! PRISM NextGen Tech and AI Leader, Duos Technologies Shows Full Steam Ahead, Trading Up ~15%
What do you get when you combine AI, trains, and railcar inspections? It’s obviously, PRISM NextGen Tech and AI Index company, Duos Technologies (DUOT). While no immediate news has been released today the stock is chugging upwards ~15%. The company intends to announce Q4 and FY 2023 earnings on Monday, April 1st, after the close.
The Mexican rail operator is working to revolutionize the train and railcar industry as it relates to streamlining railcar inspections with the intention to assist in derailment prevention and improve safety. Last month, the company was granted the “Use of Artificial Intelligence to Detect Defects in Trains and Method to Use” patent. This technology will be utilized to analyze fast moving freight, passenger and transit trains and trucks. Upon receiving the patent, Duos renewed its support contract and added Duos AI. This agreement secures $360K in annual recurring revenue.
As its earnings announcement nears, investors are waiting to discover further developments or future plans to determine if they should hop aboard this AI transportation investment.
