TORONTO, Aug. 31, 2020 /CNW/ – Internet of Things Inc. (TSXV: ITT) (OTC: INOTF) (FRANKFURT: 71T) (“ITT Inc.” or the “Company“), a software program and options supplier within the synthetic intelligence and industrial IoT markets, proclaims right now that it has modified its identify to Predictiv AI Inc. (the “Name Change“). In addition, the Company has consolidated its excellent frequent shares (the “Shares“) at a ratio of 5.5 pre-consolidation shares for 1 post-consolidation share, 5.5:1 (the “Consolidation“). The Company’s Shares will commerce on a post-consolidated foundation below its new identify and ticker image “PAI”, on the TSX Venture Exchange on the opening of buying and selling on September 1, 2020. The Company modified its identify to replicate its broader dedication and experience in accelerating synthetic intelligence (AI) innovation because it advances AI and machine studying options.
As outlined within the Company’s April 20, 2020 information launch in relation to the closing of a non-brokered non-public placement financing (the “Private Placement“), the Company offered an endeavor to the TSX Venture Exchange to carry a particular shareholders assembly to approve a consolidation inside 180 days of completion of the Private Placement. The board of administrators of ITT Inc. (the “Board“) believes that the Consolidation will increase its competitiveness within the market and make its securities extra engaging to a wider viewers of potential traders leading to a extra environment friendly marketplace for its Shares. During the annual and particular assembly of the Company’s shareholders held on August 21, 2020, the Name Change and Consolidation had been each authorized. Immediately previous to completion of the Consolidation, the Company has 337,401,919 Shares issued and excellent. After giving impact to the Consolidation, the Company may have roughly 61,345,803 Shares issued and excellent, topic to the rounding of fractional frequent shares.
The shareholders re-elected Messrs. Jim Grimes, Hon. Jerry Grafstein, Millard Roth, and Michael Lende as administrators of the Company. In addition, shareholders additionally authorized the reappointment of RSM LLP, Chartered Accountants, as auditors.
Subsequent to the shareholder assembly, the board of administrators reappointed Michael Lende as President and CEO and Khurram Qureshi as Chief Financial Officer.
“If you can predict the future, you can profit from it,” mentioned Michael Lende, President and CEO of Predictive AI. “Predictiv AI is what you get when historical datasets meet current datasets to produce future trends. We provide the tools to look into the future and help our customers make the right decisions to operate safer, better, and smarter. We help myriad industries identify patterns so they can crack the code and be more efficient, effective, and precise at mining and managing data to avoid hidden risks and improve outcomes.”
Predictiv AI is already making use of its subsequent technology AI and machine studying analytics to form the long run within the public security sector with the introduction of ThermalPass, an AI-enabled, thermal sensor temperature screening system. ThermalPass was developed to mitigate the unfold of COVID-19 and different contagions in high-traffic places like supermarkets, drugstores, colleges, workplace complexes, film theaters, sports activities arenas and extra.
“We help our customers ask the right questions from their datasets to avoid the unexpected and better manage risk,” mentioned Daryl Smith, Chief Technology Officer of Predictiv AI. “We started out in one of the most notoriously difficult fields on the planet – forecasting weather and predicting global road conditions. Today, we are applying our powerful data analytics engine to answer even more difficult business questions and deliver game-changing results.”
Predictiv AI is bringing collectively the brightest minds within the subject of AI to use cutting-edge know-how and analysis to unravel complicated enterprise challenges. The Company is constant to evolve its Weather Telematics’ Alert Fleet product to assist drivers perceive and handle the potential danger of driving in adversarial climate. The Alert Fleet system is a cost-saving software program/sensor system that gives fleet homeowners with the instruments they should run considerably safer and extra environment friendly fleets.
Weather danger is a significant price issue affecting North America’s transportation business. According to the National Bureau of Economic Research, greater than 10 p.c of US GDP is straight affected by climate and local weather change, with the demand for hyper-local climate information changing into a life-and-death necessity.
Predictiv AI produces insights for firms to allow them to turn out to be extra operationally environment friendly, cut back prices, enhance outcomes, improve workflow, improve consciousness, establish hidden alternatives, and save lives. Over the previous 5 years the Company, previously often known as Internet of Things Inc., has offered transformative providers to the general public security and safety markets, a sector that’s projected to succeed in US$912 Billion by 2027.1
With the worldwide AI market anticipated to succeed in US$202.57 Billion by 2026,2 Predictiv AI’s capabilities place the Company to succeed and probably outpace the market because it continues to spur constructive innovation by offering a bridge to massive information to assist companies notice higher market insights.
For extra data on Predictiv AI go to: www.predictiv.ai and observe Predictive AI on:
1Verified Market Research.
2Fortune Business Insights™ Pvt. Ltd.,
About Predictiv AI: Predictiv AI Inc. is a know-how firm which helps companies and organizations make smarter selections utilizing superior synthetic intelligence, deep machine studying and information science methods. Its Weather Telematics Inc. subsidiary makes use of patented air high quality monitoring sensors to supply predictive climate danger data to the insurance coverage, logistics, fleet administration and public security sectors. The Company’s R&D division, AI Labs Inc., develops new merchandise that resolve real-world enterprise issues. The three way partnership with Commersive Solutions Corp. is growing modern applied sciences to be used in numerous public areas, beginning with the ThermalPass™ fever detection system.
Cautionary and Forward-Looking Statements:
Statements contained on this information launch, which aren’t historic details, are forward-looking statements that contain danger, uncertainties and different components that would trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. There could be no assurance that such statements will show to be correct and precise outcomes and future occasions might differ materially from these anticipated in such statements. All forward-looking statements included on this information launch are primarily based on data obtainable to the Company on the date hereof. Forward-looking statements are topic to recognized and unknown dangers, uncertainties and different components that would trigger precise outcomes of the Company to vary materially from the conclusion, forecast or projection acknowledged in such forward-looking statements. These dangers, uncertainties and different components embody, however aren’t restricted to, ThermalPass attaining the business outcomes anticipated by the Company, market demand for ThermalPass and different components referenced within the Company’s different steady disclosure filings, which can be found at sedar.com. Readers shouldn’t place undue reliance on these forward-looking statements. The Company assumes no obligation to replace any forward-looking statements, besides as required by relevant securities legal guidelines.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
SOURCE Predictiv AI Inc.
For additional data: Company Contact: Michael Lende, President & CEO, Mobile: 416-884-5911, Email: [email protected]; Media Contact: Dwain Schenck, Schenck Strategies, Mobile: 203-223-5230, Email: [email protected]