Wrap Technologies, Inc. (Nasdaq:
WRAP) (“Wrap” or the “Company”), a global leader in
innovative public safety technologies and services, today announced
the release of new groundbreaking Artificial Intelligence (AI)
functionalities for their Wrap Intrensic Body-Worn Camera (BWC)
Solution and Digital Evidence Management System (DEMS) platform.
Additional features will launch throughout the first half of 2024.
These significant advancements reinforce Wrap Technologies'
commitment to providing state-of-the-art tools for law enforcement
professionals that enhance transparency, efficiency, safety, and
accountability.
The new features focus on leveraging AI to
streamline and elevate the video and evidence management
capabilities of the Wrap Intrensic BWC Solution. These key AI
functionalities include AI Video Redaction, Automated Transcription
of Voice-Captured Video, AI-Assisted Contextual Content Search, and
AI Video Content Review.
Artificial Intelligence Video
Redaction:
This feature is designed to enhance privacy and
compliance. This functionality allows users to automatically
identify and redact sensitive information within recorded video
footage. With this advanced capability, law enforcement agencies
can protect the privacy of individuals and adhere to regulatory
requirements, ensuring a responsible and ethical use of video
data.
Automated Transcription of
Voice-Captured Video:
This powerful AI-driven transcription feature
automatically converts voice-captured video content into accurate,
searchable text. This capability saves valuable time for law
enforcement personnel and enhances the accessibility and analysis
of recorded interactions. By providing a detailed and searchable
transcript of audio content, the Wrap Intrensic BWC Solution
ensures that critical information is easily accessible.
Artificial Intelligence-Assisted
Contextual Content Search:
The Wrap Intrensic BWC Solution's new
AI-Assisted Contextual Content Search feature empowers users to
pinpoint specific incidents and interactions. Through advanced AI
algorithms, the solution identifies and tags relevant contextual
information, enabling law enforcement agencies to locate specific
events within vast video databases. This capability enhances
investigative processes, accelerates information retrieval, and
supports more effective decision-making.
Artificial Intelligence Video Content
Review:
By leveraging artificial intelligence, Video
Content Review is a cutting-edge feature that automates the
analysis of recorded video footage. This functionality identifies
patterns and critical events within the video content, providing
valuable insights to law enforcement agencies, including sentiment
analysis and scoring that is crucial to de-escalation while
policing. The Wrap Intrensic Body-Worn Camera Solution optimizes
resource allocation and allows law enforcement professionals to
focus on strategic decision-making by automating the review
process.
"These new AI functionalities represent a
significant leap forward in the capabilities of our Wrap Intrensic
BWC Solution and secures our position as a leading innovator in the
DEMS industry," said Kevin Mullins, CEO at Wrap Technologies Inc.
"We believe that harnessing the power of AI will not only
streamline the workflows of law enforcement agencies and improve
efficiency but also contribute to greater transparency and
accountability in policing."
For more information about Wrap Technologies,
please visit wrap.com.
About Wrap
Wrap Technologies, Inc. (Nasdaq: WRAP) is a
leading global provider of advanced public safety solutions,
integrating ultramodern technology, cutting-edge tools, and
comprehensive services to address the complex, modern day
challenges facing public safety organizations around the world.
Guided by a no-harm principle, Wrap is dedicated to developing
groundbreaking solutions that empower public safety agencies to
safeguard the communities they serve in a manner that fosters
stronger relationships. Driving safer outcomes, empowering public
safety and communities to move forward together.
Wrap's BolaWrap® solution encompasses an
innovative and patented hand-held remote restraint device,
strategically engineered with Wrap’s no-harm guiding principle to
proactively deter escalation by deploying a Kevlar® tether that
safely restrains individuals from a distance. Combined with
BolaWrap® training, certified by the esteemed International
Association of Directors of Law Enforcement Standards and Training
(IADLEST), Wrap enables officers from over 900 agencies across the
US and 60 countries around the world, with the expertise to
effectively use BolaWrap® as an early intervention measure,
mitigating potential risks and injuries, averting tragic
outcomes. Saving lives with each wrap.
Wrap Reality™, the Company’s advanced virtual
reality training system, is a fully immersive training simulator
and comprehensive public safety training platform equips first
responders with the discipline and practice to prevent escalation,
de-escalate conflicts, and apply appropriate tactical use-of-force
measures to better perform in the field. By offering a growing
range of real-life scenarios, Wrap Reality™ addresses the dynamic
nature of modern law enforcement situations for positive public
safety outcomes. Building safer communities one decision at a
time.
Wrap Intrensic is a comprehensive, secure and
efficient body worn camera and evidence collection and management
solution designed with innovative technology to quickly capture,
safely handle, securely store, and seamlessly track evidence, all
while maintaining full transparency throughout the process. With
meticulous consolidation and professional management of evidence,
confidence in law enforcement and the justice system soars,
fostering trust and reliability in court outcomes. Intrensic’s
efficient system streamlines the entire process seamlessly,
empowering all public safety providers to focus on what matters.
Expediting justice with integrity. Connect with
Wrap: Wrap on Facebook Wrap on Twitter
Wrap on LinkedIn Trademark
Information Wrap, the Wrap logo, BolaWrap®, Wrap
Reality™ and Wrap Training Academy are trademarks of Wrap
Technologies, Inc., some of which are registered in the U.S. and
abroad. All other trade names used herein are either trademarks or
registered trademarks of the respective holders.
Cautionary Note on Forward-Looking
Statements - Safe Harbor Statement This press release
contains “forward-looking statements” within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, including but not limited to: statements
regarding the Company’s overall business; total addressable market;
and, expectations regarding future sales and expenses. Words such
as “expect,” “anticipate,” “should”, “believe”, “target”,
“project”, “goals”, “estimate”, “potential”, “predict”, “may”,
“will”, “could”, “intend”, and variations of these terms or the
negative of these terms and similar expressions are intended to
identify these forward-looking statements. Moreover,
forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond the Company’s control. The Company’s actual results
could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including
but not limited to: the Company’s ability to successful implement
training programs for the use of its products; the Company’s
ability to manufacture and produce product for its customers; the
Company’s ability to develop sales for its new product solution;
the acceptance of existing and future products; the availability of
funding to continue to finance operations; the complexity, expense
and time associated with sales to law enforcement and government
entities; the lengthy evaluation and sales cycle for the Company’s
product solution; product defects; litigation risks from alleged
product-related injuries; risks of government regulations; the
business impact of health crises or outbreaks of disease, such as
epidemics or pandemics; the impact resulting from geopolitical
conflicts and any resulting sanctions; the ability to obtain export
licenses for counties outside of the US; the ability to obtain
patents and defend IP against competitors; the impact of
competitive products and solutions; and the Company’s ability to
maintain and enhance its brand, as well as other risk factors
mentioned in the Company’s most recent annual report on Form 10-K,
quarterly report on Form 10-Q, and other SEC filings. These
forward-looking statements are made as of the date of this press
release and were based on current expectations, estimates,
forecasts, and projections as well as the beliefs and assumptions
of management. Except as required by law, the Company undertakes no
duty or obligation to update any forward-looking statements
contained in this release as a result of new information, future
events or changes in its expectations.
Wrap’s headquarters are in Tempe, Arizona. For more information,
please visit wrap.com.
Investor Relations Contact:
800.583.2652ir@wrap.com
Media Relations Contact: Leigh Anne Arnold5W
Public Relationswrap@5wpr.com
Wrap Technologies (NASDAQ:WRAP)
Historical Stock Chart
From Apr 2024 to May 2024
Wrap Technologies (NASDAQ:WRAP)
Historical Stock Chart
From May 2023 to May 2024