Internet of Things Inc Launches Alert Fleet Weather Based System

Internet of Things Inc (TSXV: ITT) this morning announced the launch of a new product, referred to as Alert Fleet, which utilizes artificial intelligence technology to alert drivers to “down road” weather conditions and mitigate risk in real time. The technology is built upon the same platform that is integral to the firms ThermalPass fever detection system.

Alert Fleet has been designed for use by fleet owners, such as commercial truck fleets, roadside assistance, couriers, EMS, police, fire and a multitude of other operates to limit the risk posed by hazard road conditions while integrating into existing telematic portals. Through an integrated software and sensor system, the system generates hyperlocal, advanced road weather data which instantly provides real time alerts of any potential hazardous conditions such as black ice, fog, rain, slush, or snow for distances ranging from 200 metres to hundreds of kilometres in advance.

The system itself is based on AI technology, deep machine learning and data science techniques that are developed by ITT’s Weather Telematics subsidiary. The company is currently in discussion with numerous fleet management companies to install the Alert Fleet system on a proof of concept basis. Once deployed, the system will run as a software as a sales model, or SAAS, to generate monthly recurring revenue based on the number of systems installed within a clients fleet.

"Allowing fleet operators to incorporate powerful telematics data with our AI-enhanced analytics enables drivers and dispatchers to mitigate risk and react to adverse “down-road” weather conditions in real-time. Heavy vehicle accidents tend to have catastrophic consequences and are financially debilitating to fleet owners. … With that in mind, Alert Fleet was designed to accurately deliver instant road weather alerts in response to imminent risks facing fleet vehicles and drivers, 24-hours a day, 365 days a year. … We are developing a full suite of AI and data driven solutions based on our core technology which is designed to provide affordable solutions that mitigate risk while driving costs down and increasing efficiencies for real world challenges." 
Michael Lende, CEO

The cost of weather risk has a major impact on the transportation industry across North America, with over 10% of the US GDP directly affected by weather and climate change as per the National Bureau of Economic Research. Each year, there are approximately 400,000 accidents involving semi trucks, with the economic cost estimated at over $112 billion, of which 20% is attributed to weather.

Internet of Things Inc last traded at $0.055 on the TSX Venture.


FULL DISCLOSURE: Internet of Things Inc is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Internet of Things Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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