Remark AI's license plate and mobile facial
recognition solutions allow the police force to automate, screen
and identify suspected vehicles and persons of interest while
following their routine patrol traffic.
VEGAS, May 31, 2023 /PRNewswire/ -- Remark
Holdings, Inc. (Nasdaq: MARK), a leading provider of artificial
intelligence solutions, today announced it has won the first phase
of a rollout by the Rio De Janeiro
police department to equip their existing police car fleet with
license plate and facial recognition capabilities. The deployment,
scheduled to be completed over the next 120 days, is a 30-month
recurring revenue subscription contract valued at over $6 million. The current technical due diligence
period, when passed, will immediately grant additional revenue
opportunities for Phase 2 and Phase 3.
Remark AI partnered with iProp.Tech, a local Brazilian system
integrator to execute and implement the requirements requested by
the Rio De Janeiro police
"We are excited to partner with Remark AI to implement its
proprietary artificial intelligence solutions to improve the
license plate and mobile facial recognition capabilities requested
by the Rio De Janeiro police
department," says Eduardo Ventura,
CEO of iProp.Tech. "Winning this contract establishes the
credibility to bid for the $130
million opportunity solicited by the Sao Paulo City
Government to provide license plate and facial recognition
solutions throughout the city."
"This solution is just the beginning of many lucrative
opportunities. With 26 states in Brazil, and only two states at this moment
looking for these AI solutions, we have a lot of ground to cover.
Since São Paulo and Rio De Janiero
are the most influential states in Brazil, we have no doubt that the remaining
states will start inquiring about the same solutions," Eduardo Ventura further commented. "In addition,
the private sector in Brazil
represents a tremendous opportunity as we work to provide better
security for condominiums and residences, while reducing
operational costs for the security team."
Omar Castro, Head of Latin
American Sales at Remark Holdings, comments, "We are proud to be
working with our partners on such a significant initiative to
improve the safety and security in Rio De
Janeiro. Before we started this project, the police in Rio
did not have the resources to identify a person or license plate of
interest in real time while on patrol. Now, with our proprietary AI
solutions, we are providing them with the solutions needed to make
this happen. We are honored to have landed a major project such as
this one as our first in Brazil,
and excited at the other opportunities this project has put in
front of us."
About Remark Holdings, Inc.
Remark Holdings, Inc. (Nasdaq: MARK), the industry leader
in AI powered analytics computer vision and smart agent solutions,
delivers an integrated suite of AI tools that help organizations
understand their customer demographics and behavior, while
monitoring, understanding and acting on potential security threats
in real time. Remark consists of an international team of sector
experienced professionals that have created award winning video
analytics. The company's GDPR-compliant and CCPA-compliant
solutions focus on sectors including government agencies,
hospitality, public safety, retail and transportation. The
company's headquarters are in Las Vegas,
Nevada, USA, with operational offices in New York and international offices in
London, England. For more
information, please visit our home page at
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or revise publicly any forward-looking statements after the date
hereof, whether as a result of new information, future events or
Vice President of Investor Relations
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SOURCE Remark Holdings, Inc.