Innovative Predictiv AI products ThermalPass and Alertfleet hit the commercialization phase
Imagine if you could predict the future. The implications are enormous across so many areas from finance, technology, health, security, environment etc. Well now there is a way of predicting events by using Artificial Intelligence (AI) and big data analysis. Today’s company offers AI solutions such as mass thermal screening tests to help fight against COVID-19 and AI software to predict/forecast the weather up to 72-hours in advance to help with safety and economics of fleets.
Predictiv AI Inc. (TSXV: PAI) (‘Predictiv’) is a cutting edge technology company which helps businesses and organizations make smarter decisions using advanced AI, deep machine learning, and data science techniques.
Predictiv’s main initial focus is on commercializing their technology across ‘smart cities’ in areas such as public safety, energy management, smart buildings, mobility, technology, infrastructure, and healthcare sectors.
Predictiv state that the AI potential of the above areas of the smart cities market is potentially worth as much as US$1.56 trillion by 2025. Of course if you can predict future outcomes using AI then the world is your oyster. As investors of the stock market know automated ‘quant’ or algorithmic trading is rapidly growing in popularity and could be worth as much as US$18.8 billion pa in revenues by 2024. AI is already succeeding in the stock market and perhaps soon in the lucrative robotaxi/autonomous vehicle market (aka Tesla (NASDAQ: TSLA)).
Predictiv’s two wholly-owned subsidiaries focus on the public safety opportunity
AI Labs Inc.
AI Labs is the research and development business arm of Predictiv. AI Labs designed, engineered and developed ThermalPass™, a fever detection system approved by Health Canada, to mitigate the spread of contagions in public places.
AI Labs plans to commercialize ThermalPass™ under SMRT Labs Inc., offering two offerings, the ThermalPass Portable (US $6,900) and ThermalPass Pro (US $7,300). As of Jan. 5, 2021 Predictiv reports that they have received orders for 62 units of ThermalPass following the commercial launch in mid-October 2020, including initial orders from hospitals, long-term care facilities and prisons in Canada, as well as hospitals and public schools in the US.
A recent commercialization deal was made with TFG Concepts to represent ThermalPass to its clients across Canada.
Predictiv’s subsidiary AI Labs owned ThermalPass™ for mass public temperature screening – Highly useful in the fight against COVID-19
Source: Company presentation
Weather Telematics Inc.
Weather Telematics Inc. provides ground truth weather. Through its’ patented AI and sensor technology, the Company is able to provide up to 72-hours advance proprietary predictive weather data to sectors including government, insurance, agriculture, public safety and fleet management.
Weather Telematics has developed ‘Alert Fleet’, a cost-saving software/sensor system that provides fleet owners with the tools they need to run significantly safer and more efficient fleets.
Weather Telematics has formed a new strategic channel partnership with inField Solutions Inc. to commercialize Alert Fleet. Weather Telematics has already secured a multi-year agreement with Synoptic Data PBC for data provision services. The Company state that “this licensing contract will generate seven-figure revenue over the term for Weather Telematics and will launch its next generation of weather and road temperature sensors, which turns vehicles into their own mobile weather stations.”
Predictiv’s subsidiary Weather Telematics Inc. owned Alert Fleet with weather alerts etc for fleet safety and economics
Source: Company presentation
Michael Lende, President and CEO of Predictiv AI, recently stated:
“Our goals for 2021 are to continue to extend and strengthen our innovative product portfolio, to ramp up sales of ThermalPass and AlertFleet, both internally as well as through strategic channel partners, and to continue targeting whitespace categories and verticals which we view as innately scalable. In 2021, our focus remains on building the business by increasing revenue and driving shareholder value.”
Closing remarks
Generally speaking the best time to jump on board with promising companies is not too early in the invention phase, but rather at the beginning of the commercialization phase, just as revenues are about to hopefully take-off. This is the stage that Predictiv AI is now entering and they have already had some good early success.
Predictiv AI trades on a market cap of only C$13.2 million, therefore it is potentially still very early days for the Company.
I wonder what Predictiv AI’s software forecasts for their stock price in 2021? It certainly looks like it should be an excellent year ahead for Predictiv AI.