Rekor's Waycare, Volvo Cars Bond Over AI Crash Prediction

  • Rekor Systems Inc's REKR Waycare subsidiary will conduct a strategic research initiative by Geely Automobile Holdings Ltd GELYF GELYY owned Volvo Cars to ascertain how they can use artificial intelligence to enable predictive awareness in a smart city context. 
  • The six-month pilot test, beginning in October 2021, involves the Waycare technology for AI-based crash prediction in Volvo Cars' hometown of Gothenburg, Sweden. 
  • Volvo Cars lead the research project for Drive Sweden's AI Aware program, which investigates and tests central traffic control that supports connected and automated vehicles. 
  • Waycare will perform the test with the Swedish Transport Administration (STA) and the Gothenburg Traffic Management Center (TMC).
  • "Our crash prediction technology and traffic data has been shown to reduce crashes by up to 18% when paired with proactive police presence and other measures, and we are excited to help Gothenburg, and Sweden better understand how AI-enabled insights from connected vehicles can provide significant benefits including more efficient use of public funding and improved safety for drivers," Rekor CEO Robert A. Berman said.
  • Price Action: REKR shares traded lower by 0.08% at $11.96 in the market session on the last check Monday.
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