Datametrex AI Limited (TSXV: DM) subsidiary Nexalogy has launched its Social Media Automated Reporting Technologies (SMART) as well as completed the IDEaS program Component 1b Milestone 4. The completion of the milestone will see the company receive roughly $218,000 as a result through the IDEaS program offered by the Government of Canada. The program as whole is worth $945,000.
The firms SMART technology is said to be advanced proprietary AI tech that minimizes human involvement within data analysis. In short, it reduces the time required to interpret and integrate large datasets generated via social media to produce automated reports for analysis.
SMART is able to provide reporting on large amounts of unstructured text to identify developments within the global information landscape. The focus of the program is to remove human bias and error when dealing with data, while increasing the efficiency of analysis.
Following the completion of milestone four under component 1b, the company was able to begin testing the SMART technology internally with several existing clients. The tech meanwhile is expected to be made fully available within the fourth quarter of 2020.
“Datametrex has put significant effort into the R&D behind SMART, which is a major goal of the IDEaS program. We are confident that our cutting edge technology will significantly benefit our clients. We look forward to deploying this technology in new verticals.”Marshall Gunter, President and CEO
Datametrex AI last traded at $0.12 on the TSX Venture.
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