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Duos Technologies Group, Inc. (Nasdaq: DUOT) saw its stock rise 22.5% in pre-market trading following the announcement of a new five-year agreement with Canadian National Railway (CN) to offer Machine Vision/AI Wayside Detection Safety Data through a subscription service. This partnership marks a significant advancement in fleet maintenance and safety inspections in the railway sector.
The strategic collaboration between Duos and CN builds on more than five years of using Duos’ Machine Vision/AI technology to complement manual inspections across CN’s extensive network. The advanced solution has already proven effective in maintaining fleet efficiency and safety, benefiting rail operations across North America.
Duos, known for its Railcar Inspection Portal, holds ten active U.S. patents on the solution. The company continues to innovate, with plans to expand its offerings to shippers and car owners on the CN network, delivering predictive maintenance insights, trend analytics, and overall fleet health data. This development reinforces Duos’ position as a leader in AI-driven safety technology for the railway industry.
CEO Chuck Ferry expressed pride in the partnership and the ongoing enhancements to their Railcar Inspection Portal, focusing on key components such as wheels and brakes. CN’s Executive Vice-President, Patrick Whitehead, emphasized how the integration of Duos’ technology is revolutionizing CN’s inspection processes, helping maintain a healthier fleet with greater predictive capabilities.
As the partnership moves forward, investors are watching Duos’ progress and the continued expansion of its cutting-edge AI platforms, setting the stage for significant growth in the years ahead.