Data and Visual AI-Based Services Contract Grows the Company’s Recurring Revenue Base

Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), through its operating subsidiary Duos Technologies, Inc. a provider of vision based analytical technology solutions, today announced that it has implemented its first subscription services agreement with a passenger transit operator. In connection with the agreement, Duos will offer access to its Railcar Inspection Portal (“rip®” or “RIP”) and optional artificial intelligence (“AI”) detection models for key inspection points.

Duos announced a new subscription service for the rail industry

© Duos Technologies, Inc.

The initial agreement, renewable annually, is initially valued at $300,000 and encompasses customer training, installation, and railcar data services across up to three existing Class 1 portals. With the signing of the first customer for the subscription service, Duos expects to provide the same near real-time inspection data and AI-based alerts that have been developed and tested in conjunction with its Class 1 railroad customers.

Duos announced a new subscription service for the rail industry including Class 1 Railroads, as well as car owners/lessors and is currently engaged in discussions with multiple railroads, railcar owners/lessors, and other potential users to expand its offering.

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This article was originally published by Duos Technologies.
source= https://railway-news.com/duos-technologies-implements-first-subscription-customer/