LAS VEGAS, Aug. 27, 2019 /PRNewswire/ -- Remark Holdings,
Inc. (NASDAQ: MARK), a diversified global technology company with
leading artificial intelligence ("AI") solutions and digital media
properties, today announced the initial deployment of KanKan
AI's Smart Campus solution in the Hangzhou Primary School System in
Hangzhou, China.
In 2019, the Chinese Ministry of Education and State Council
issued a Work Focus Mandate to modernize China's 400,000 secondary school campuses with
the latest AI technologies for campus safety, student attendance,
and interactive, performance-driven learning. KanKan AI
developed its Smart Campus Solution in response to such mandate. As
deployed in Hangzhou, the Smart
Campus Solution is comprised of integrated hardware and software
priced at $8,000 per campus, and it
allows for a recurring revenue stream from the integrated software
as well as providing a professional channel subscription option on
WeChat for parents wanting to view real-time video of their
child.
The Smart Campus Solution uses facial recognition technology and
object recognition technology to:
- automate student check-in and check-out at the school's
entrance and exit points,
- control access to dormitories, laboratories and
libraries,
- alert school administrators of unauthorized persons who
have trespassed on the school campus,
- ensure students are released only to parents or other
pre-approved persons, and
- monitor for unauthorized objects, such as weapons, brought into
school buildings.
Strategically-placed cameras installed at school entrances,
in passageways, and in campus buildings allow the Smart Campus
Solution to monitor such campus locations without utilizing an
RFID-based system, turnstiles or other less-effective or
inconvenient methods.
The solution initially deployed in the primary school in
Hangzhou reduced the statistical
errors in attendance records when compared to the previously-used
manual tracking process, and it has demonstrated that schools can
save time and money by using the Smart Campus Solution. In addition
to reducing errors by eliminating manual processes, the Smart
Campus Solution allows school administrators to focus on the
students.
For parents who wish to actively monitor their children during
school hours, KanKan AI's solution provides real-time video
monitoring capability and real-time alerting via the commonly-used
WeChat and DingTalk apps. Teachers can also receive real-time
alerting regarding their students from the Smart Campus
Solution.
"We are pleased with the initial success of our AI solution for
school administration and campus safety, and that it has helped the
primary school in Hangzhou to
comply with the China Education Ministry's mandate," noted
Kai-Shing Tao, Remark Holdings'
Chief Executive Officer. "With the targeted monetization of our
investment in Sharecare by the end of September, we are confident
that the liquidity provided will strengthen our balance sheet and
provide us with the necessary resources to rapidly deploy and
expand upon our recently-announced contracts in the telecom and
education verticals."
About Remark Holdings, Inc.
Remark Holdings, Inc.
(NASDAQ: MARK) delivers an integrated suite of AI solutions that
enable businesses and organizations to solve problems, reduce risk
and deliver positive outcomes. The company's easy-to-install AI
products are being rolled out in a wide range of applications
within the retail, financial, public safety and workplace arenas.
The company also owns and operates digital media properties that
deliver relevant, dynamic content and ecommerce solutions. The
company is headquartered in Las Vegas,
Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please
visit the company's website at www.remarkholdings.com.
Forward-Looking Statements
This press release may
contain forward-looking statements, including information relating
to future events, future financial performance, strategies,
expectations, competitive environment and regulation. Words such as
"may," "should," "could," "would," "predicts," "potential,"
"continue," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," and similar expressions, as well as
statements in future tense, identify forward-looking statements.
These statements involve known and unknown risks, uncertainties and
other factors, including those discussed in Part I, Item 1A. Risk
Factors in Remark Holdings' Annual Report on Form 10-K and Remark
Holdings' other filings with the SEC. Any forward-looking
statements reflect Remark Holdings' current views with respect to
future events, are based on assumptions and are subject to risks
and uncertainties. Given such uncertainties, you should not place
undue reliance on any forward-looking statements, which represent
Remark Holdings' estimates and assumptions only as of the date
hereof. Except as required by law, Remark Holdings undertakes no
obligation to update or revise publicly any forward-looking
statements after the date hereof, whether as a result of new
information, future events or otherwise.
Company Contact:
E. Brian
Harvey
Remark Holdings, Inc.
ebharvey@remarkholdings.com
702-701-9514
Media Relations Contact:
Brad
Edwards
The Plunkett Group, Inc.
Brad@ThePlunkettGroup.com
212-739-6740
View original content to download
multimedia:http://www.prnewswire.com/news-releases/kankan-ai-transforms-traditional-primary-school-campuses-into-smart-campuses-300907639.html
SOURCE Remark Holdings, Inc.