Datametrex AI (DM.V) hit the milestone set out by the Canadian Department of National Defence’s Innovation for Defence Excellence and Security (IDEaS) and launched Nexalogy’s social media automated reporting technologies (SMART) platform today, according to a press release.
The Nexalogy SMART is an advanced proprietary artificial intelligence technology built to expedite the time required for integration and interpretation of large data sets and report production. Most of it is automated, and therefore there’s little human interaction and involvement in data analysis and reporting, reducing the time it takes and the amount of errors it produces. Nexalogy’s IDEaS Component milestone came as a result, and SMART has now been tested internally with several existing clients and is expected to be available in Q4 of 2020.
“We are very happy to have successfully completed the IDEaS Component 1B Milestone 4 and the launch of SMART. Datametrex has put significant effort into the R&D behind SMART, which is a major goal of the IDEaS program. We are confident that our cutting edge technology will significantly benefit our clients. We look forward to deploying this technology in new verticals,” said Marshall Gunter, president and CEO of the Datametrex AI.
IDEaS was announced in Canada’s new national defence policy, Strong, Secure, Engaged, and involves a $1.6 billion investment into innovations involving defence and security over the next two decades. It throws open the doors to innovative and creative thinkers, offering them the structure and support required to tackle some of the Canada’s toughest defence and security issues.
In DM’s case, the issue is fake news, misinformation campaigns and social media.
Global developments regarding information technology and the increasing prevalence of telework due to the COVID-19 pandemic have added to the growing need for strategic data reporting from these platforms. SMART helps reduce the time spent in analysis and management of data while reducing human bias and error by minimizing the human interaction altogether. The company contends that this increases efficiency, adds more defence against terrorism, pandemics and other crises, while providing clients the advantages required to stay abreast of social trends and competitors.
The company will receive $218,000 for completing this milestone. Combined, the total for all milestones in Component 1b is approximately $945,000.00 CAD.