Foresight: Rail Vision Reveals its Next Generation AI Computer for Railway Safety and Accident Prevention
January 31 2024 - 8:30AM
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX)
(“Foresight”), an innovator in automotive vision systems, announced
today that its affiliate, Rail Vision Ltd. (Nasdaq: RVSN) (“Rail
Vision”) revealed its next generation artificial intelligence (AI)
based computer to be incorporated into its Main Line and Switch
Yard systems. Foresight owns 10.2% of Rail Vision’s outstanding
share capital.
This advanced system represents a major
evolution from Rail Vision’s existing AI-based solutions, featuring
advanced real-time deep learning capabilities and compliance with
stringent railway standards.
Rail Vision’s system ensures exceptional
performance in obstacle detection and identification, even under
challenging weather and visibility conditions. Its real-time
operational capacity in both software and firmware contributes to a
new era of responsiveness and efficiency in railway safety
management.
Furthermore, the system's design focuses on
scalability, ensuring the system remains at the forefront of
technological advancements. The integration of cloud connectivity
opens new avenues for data analysis and predictive maintenance,
enhancing the overall safety and operational efficiency of railway
networks.
"Rail Vision's next-generation AI computer
system is a significant milestone in railway safety technology.
This innovation embodies our unwavering commitment to advancing
railway security, marrying cutting-edge AI with real-time
processing to prevent accidents and save lives. Our system,
technology and cloud connectivity are a transformative leap
forward, marking a new chapter in intelligent railway operations",
said Shahar Hania, Rail Vision's Chief Executive Officer.
About Rail Vision Ltd.
Rail Vision is a technology company that is
seeking to revolutionize railway safety and the data-related
market. The Company has developed cutting-edge, artificial
intelligence-based, industry-leading technology specifically
designed for railways. The Company has developed its railway
detection and systems to save lives, increase efficiency, and
dramatically reduce expenses for the railway operators. Rail Vision
believes that its technology will significantly increase railway
safety around the world, while creating significant benefits and
adding value to everyone who relies on the train ecosystem: from
passengers using trains for transportation to companies that use
railways to deliver goods and services. In addition, the company
believes that its technology has the potential to advance the
revolutionary concept of autonomous trains into a practical
reality. For more information, please visit
https://www.railvision.io/
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and
TASE: FRSX) is a technology company developing smart multi-spectral
vision software solutions and cellular-based applications. Through
the Company’s wholly owned subsidiaries, Foresight Automotive Ltd.,
Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd.,
Foresight develops both “in-line-of-sight” vision systems and
“beyond-line-of-sight” accident-prevention solutions.
Foresight’s vision solutions include modules of
automatic calibration and dense three-dimensional (3D) point cloud
that can be applied to different markets such as automotive,
defense, autonomous vehicles and heavy industrial equipment.
Eye-Net Mobile’s cellular-based solution suite provides real-time
pre-collision alerts to enhance road safety and situational
awareness for all road users in the urban mobility environment by
incorporating cutting-edge AI technology and advanced
analytics.
For more information about Foresight and its
wholly owned subsidiary, Foresight Automotive, visit
www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join
Foresight Automotive on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates" and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Foresight is using
forward-looking statements in this press release when it discusses
the prospective incorporation of Rail Vision’s AI-based computer
into its Main Line and Switch Yard systems, the belief that Rail
Vision’s AI computer system is a significant milestone in railway
safety technology, and the belief the combination of Rail Vision’s
system, technology, and cloud connectivity is a transformative leap
forward, marking a new chapter in intelligent railway operations.
Because such statements deal with future events and are based on
Foresight’s current expectations, they are subject to various risks
and uncertainties, and actual results, performance or achievements
of Foresight could differ materially from those described in or
implied by the statements in this press release.
The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed under the heading "Risk
Factors" in Foresight's annual report on Form 20-F filed with the
Securities and Exchange Commission ("SEC") on March 30, 2023, and
in any subsequent filings with the SEC. Except as otherwise
required by law, Foresight undertakes no obligation to publicly
release any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. References and links to
websites have been provided as a convenience, and the information
contained on such websites is not incorporated by reference into
this press release. Foresight is not responsible for the contents
of third-party websites.
Investor Relations Contact:
Miri Segal-Scharia CEOMS-IR LLC msegal@ms-ir.com917-607-8654
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