Toronto, Ontario--(Newsfile Corp. - December 9, 2020) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC: DTMXF) (the "Company" or "Datametrex") is pleased to announce the completion of the IDEaS program Component 1b Milestone 4, as well as the launch of Nexalogy's Social Media Automated Reporting Technologies ("SMART"). The Company will receive approximately $218,000.00 CAD for the Component 1b Milestone 4. Combined, the total for all Milestones in Component 1b is approximately $945,000.00 CAD.
As previously announced, Nexalogy's SMART is an advanced proprietary AI technology. SMART minimizes human involvement in data analysis and reporting. It significantly decreases the time required for integration and interpretation of large data sets and report production. Nexalogy has completed the IDEaS Component 1b Milestone 4, and as a result, SMART has been tested internally with several existing clients. It is expected to be fully available in Q4 of 2020.
AI reporting on social media and other forms of unstructured text is increasingly important. Global developments in the information landscape, as well as the increased importance of telework with the COVID-19 pandemic, have both contributed to the need for strategic reporting of data from these platforms. In terms of automation, SMART helps to reduce the time involved in the analysis and management of the data deluge. In terms of objectivity, SMART helps to reduce human bias and error when dealing with big data. SMART increases efficiency for an extra layer of defence against terrorism, pandemics, and overall crises, as well as providing clients with an edge to be ahead of social trends, competitors, and new audiences.
"We are very happy to have successfully completed the IDEaS Component 1B Milestone 4 and the launch of SMART," said Marshall Gunter, President and CEO of the Datametrex AI Limited. "Datametrex has put significant effort into the R&D behind SMART, which is a major goal of the IDEaS program. We are confident that our cutting edge technology will significantly benefit our clients. We look forward to deploying this technology in new verticals."
About SMART (Social Media Auto-Reporting Technologies)
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 about the technology, please reach out to us.
About IDEaS
IDEaS, an initiative by the Canadian Government, supports the development of solutions from their conceptual stage, through prototype testing and capability development. The program includes several elements that promote collaboration between innovators, provide developmental resources and provide opportunities to interact with DND's science and military members. In this way all innovators are on an even playing field to solve specific defence and security challenges. For more info about the program, see here: https://www.canada.ca/en/department-national-defence/programs/defence-ideas.html
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 working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, the Company provides progressive solutions to support the supply chain. Additional information on Datametrex is available 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 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
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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