SALT LAKE CITY, Nov. 17, 2022 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ:OMQS) (“OMNIQ” or “the Company”), a provider of Artificial Intelligence (AI) and supply chain management solutions, today announced that the Company has been selected by the Cities of Brooklet, Georgia and Ellsworth, Iowa , to implement its Q Shield vehicle recognition system (VRS) technology and its cloud-based citation management platform. This technology identifies any vehicle moving through the city found in a National Crime Information Center (NCIC) database or the city’s local Bureau of Investigation database and cites offenders who are driving on the city with pending traffic violations, as well as other alerts such as unregistered vehicles.
Q Shield, OMNIQ’s AI-based machine vision VRS solution, uses proprietary neural network algorithms that mimic the human brain for pattern recognition and decision-making. More than 17,000 OMNIQ AI-based machine vision sensors are installed worldwide, including approximately 7,000 in the US. Based on superior accuracy and proprietary features such as brand and color identification combined with superior accuracy based on sophisticated algorithm and machine learning that relies heavily on accumulated data provided by thousands of already deployed sensors.
Shai Lustgarten, CEO, commented, “After our initial success with the City of Adrian, GA, our first Q Shield implementation, we have seen significant interest in our solution. This success produced rapid adoption by 12 cities using Q-Shield in less than a year. We are honored to be selected by the cities of Brooklet, GA and Ellsworth IA, bringing our number of implemented cities to 14. We look forward to improving the daily lives of local citizens by creating safer cities with an unbiased approach. Our core strategy for Q Shield continues to be addressing today’s problems and preventing tomorrow’s disasters.”
On OmniQ corporation
omniQ Corp. (Nasdaq: OMQS) provides machine vision and computer imaging solutions that use proprietary and proprietary AI technology to deliver real-time data collection, surveillance and monitoring for supply chain management, homeland security , public safety, traffic and parking management, and access control applications. The technology and services provided by the company help customers move people, assets and data securely across airports, warehouses, schools, national borders and many other applications and environments.
omniQ’s clients include government agencies and leading Fortune 500 companies from various industries, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenue has grown to over $50 million from customers in the US and abroad. 14 Active safe city deployments.
The company is currently targeting several billion-dollar markets, including the global Safe City market, which is projected to grow to $29 billion by 2022, and the ticketless secure parking market, which is projected to grow to $29 billion by 2022. grow to $5.2 billion by 2023. For more information, visit www.omniq.es.
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This release contains “forward-looking statements” that include information relating to future events and future operating and financial performance. The words “anticipate”, “may”, “would”, “will”, “expect”, “estimate”, “may”, “believe”, “potential” and similar expressions and variations thereof are intended to identify statements . Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be precise indications of when such performance or results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time regarding future events, and are subject to risks and uncertainties that could cause actual performance or results differ materially from those expressed or suggested by forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products, particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain strategic business relationships and with customers, the impact of competition on products and prices, growth in target markets, the adequacy of liquidity and the financial strength of the company to support its growth, the company’s ability to manage credit structures and debt from suppliers, holders of debt and secured lenders, the company’s ability to successfully integrate its acquisitions, and other information which may be disclosed from time to time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include, but are not limited to, statements regarding revenue growth, sales momentum, operating and financial initiatives, cost reduction and profitability, and streamlining of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, unless otherwise required by law.