Fintech
Datametrex Selected to Proceed on Government Project Worth Total of $40M
Toronto, Ontario–(Newsfile Corp. – January 13, 2022) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to announce that the Company, along with its consortium partner, won the bid on a multi-phase R&D program contract on January 12, 2022.
This contract is a multi-phase Canadian Artificial Intelligence (“AI”) bid that was previously announced on October 25, 2021 with the potential fully realized contract worth approximately $40 million CAD. Upon the successful completion of this phase, the Company will move to the next phase of work.
The Company has been tasked to collaborate with its partner using Datametrex’s Social Media Automated Reporting Technologies (“SMART“) to speed up time to insight in investigating Social Media Influencer Activities.
Due to confidentiality requirements, the Company is not permitted to provide details about the contract and the scope of work.
According to the analysts of Mordor Intelligence, the cybersecurity market* was valued at USD $156.24 billion in 2020, and it is expected to reach USD $352.25 billion by 2026, registering a Compound Annual Growth Rate (“CAGR”) of 14.5% during 2021-2026. Rapidly increasing cybersecurity incidents and regulations requiring their reporting are driving the cybersecurity market. (Sourced online January 11, 2022: https://www.mordorintelligence.com/industry-reports/cyber-security-market)
“This is a major milestone we accomplished for Datametrex. This will be a pivot for us to attract other high-profile customers to our AI business. Our selection on the next phase of the program is strong evidence in our superior AI solutions,” commented Andrew Ryu, Chairman of the Company.
“This proves that our technology will help maintain a technological advantage in the state of social media cyber security. We are excited to commence this next phase of this large contract,” says Marshall Gunter, CEO of the Company.
About SMART
SMART reduces the time needed to interpret and integrate large sets of data by offering powerful automated analyses. Rather than replacing the human analyst, he/she sets the parameters of the data collection via keywords and other social media information (e.g., usernames and links). This allows for the identification of data needing extraction and analysis. SMART extracts the relevant data and produces automated reports, thus allowing clients to work with a more manageable information set. SMART allows an analyst to deal with hundreds of thousands of social media documents in minutes rather than hours or days.
Analysts can specify filters on the data to get automatic reports on subsets of the data focusing on specific times, entities, social media users, or topics. The resulting reports are delivered either as PDFs, DOCs, or via API for further processing. The report generation can be scheduled to occur either at regular intervals or to be triggered by specific changes in the conversation (e.g., a sudden increase in volume or an increase in mentions of a particular named entity).
Lastly, SMART analysis helps the user to easily access the required information and helps to detect patterns that currently go unrecognized. This is needed in both the context of the ‘short game’ of crisis reporting and the ‘long game’ of identifying narratives, as discussed within the BEND (Build Engage Neutralize Distract) framework.
For more information on this project or to learn how Datametrex can assist your organization in social media discovery or cyber security please visit: www.nexalogy.com
About Datametrex
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex’s mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By collaborating with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company’s website at www.datametrex.com.
For further information, please contact:
Marshall Gunter – CEO
Phone: (514) 295-2300
Email: mgunter@datametrex.com
Neither the TSX Venture Exchange nor it’s Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
###
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109956