SASKATOON, SK, June 28, 2021 – International Road Dynamics Inc. (“IRD” or the “Company”), a Quarterhill Inc. (“Quarterhill”) company (TSX: QTRH) (OTCQX: QTRHF), is pleased to announce the launch of a new CVSA decal reader system that utilizes Artificial Intelligence (AI) and machine vision technology. AI enables superior read rates of CVSA decals and makes IRD’s CVSA decal reader ideal for automatic pre-screening of commercial vehicles traveling at highway speeds in advance of weigh stations.
Much of the work of inspectors at weigh station facilities involves performing visual inspections, including checking for expired CVSA inspection decals. AI, coupled with machine vision technology, offers the opportunity to automate this task and refine pre-selection in advance of the weigh station. This ensures that vehicles with expired decals, that may not have been recently inspected, are prioritized for inspection – potentially improving the fairness and effectiveness of commercial vehicle enforcement. Freight transportation efficiency may also improve when recently inspected vehicles are permitted to bypass weigh stations. This technology may also enable safer operations for inspectors.
CVSA Decal Reader Images
Many weigh stations are already equipped with machine vision technology to provide images of commercial vehicles matched with Weigh-In-Motion (WIM) information or for providing images to permit vehicle identification using optical character recognition (OCR) of license plate or DOT numbers. There is potential for existing cameras to be augmented with IRD’s CVSA decal reader system at hundreds of pre-screening locations across North America.
“This is a very exciting moment for our industry,” commented Rish Malhotra, IRD’s President and CEO. “AI-specific processing units coupled with powerful industrial computers are enabling deep neural network and machine vision-based transportation system applications that are creating opportunities for agencies to achieve their road safety goals in a cost-effective manner while enhancing transportation efficiency. The CVSA decal reader is IRD’s first commercial product that integrates AI with IRD’s iSINC® Weigh-In-Motion (WIM) controllers, and we see tremendous potential for more AI applications in the near future. We believe these will fortify IRD’s leadership position in the Commercial Vehicle Enforcement market.”
The technology was developed in cooperation with the University of Saskatchewan’s Computer Engineering Research Lab and with assistance from Mitacs, a non-profit national Canadian research organization that supports industrial and social innovation.
IRD is a dynamic technology company engaged in developing key components and advanced systems for the next generation of transportation networks. Together with subsidiaries PAT Traffic and ICOMS Detections, IRD supplies Intelligent Transportation Systems (ITS) to private corporations, transportation agencies, and highway authorities around the world. IRD’s systems make highways safer, greener, and more efficient. Known globally as a trusted partner providing sales, service, and installation support on major ITS projects for over 40 years, IRD contributes to creating smarter cities by empowering engineering and urban planning professionals to access reliable traffic data. For more information: www.irdinc.com
Quarterhill is a growth-oriented company in the Intellectual Property and Intelligent Transportation System (ITS) industries. Our goal is to pursue an investment strategy that capitalizes on attractive market trends in both ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com
This news release contains forward-looking statements regarding IRD, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by IRD and/or Quarterhill in light of their experience and perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that IRD and/or Quarterhill believe are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting IRD and/or Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus ("COVID-19"); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on IRD and/or Quarterhill and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill's March 11, 2021 annual information form for the year ended December 31, 2020 (the "AIF"). Copies of the AIF may be obtained at www.sedar.com. IRD and Quarterhill recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of IRD's forward-looking statements. IRD has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For more information:
Call IRD Head Office at +1-306-653-6600 or email email@example.com
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