Business
Datametrex Successfully Completes First Phase of $40M AI Contract
Toronto, Ontario--(Newsfile Corp. - March 31, 2022) - Datametrex AI Limited ( TSXV: DM ) (...
About this update from Datametrex Ai Ltd.
[{"type":"text","content":"Datametrex Successfully Completes First Phase of $40M AI ContractToronto, Ontario--(Newsfile Corp. - March 31, 2022) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the \"Company\" or \"Datametrex\") is pleased to announce that the Company and its wholly owned subsidiary, Nexalogy, have successfully completed the first phase of its artificial intelligence (AI) contract with the Canadian government. This initial work is part of a multi-phase Canadian AI project that was previously announced on January 13, 2022. Over a few phases, the aggregated total value is approximately $40M CAD. Nexalogy's Social Media Automated Reporting Technologies (\"SMART\") is being used to enhance its speed by minimizing human involvement. SMART significantly speeds up time involved in the analysis of social media influencer activities, which would serve the Canadian Government as a powerful tool for both analysts and data scientists with the goal to stop the spread of misinformation and propaganda online. Due to confidentiality requirements, the Company is not permitted to provide further details about the contract and the scope of work. \"With our Nexalogy software being trusted in the global misinformation war by government agencies, this proves our technical advantage when it comes to social media intelligence and data analysis\", said Marshall Gunter, CEO of the Company.According to the analysts of Mordor Intelligence, the cyber security market* was valued at USD $156.24 billion in 2020, and it is expected to reach USD $352.25 billion by 2026, registering a Compound Annual Growth Rate (\"CAGR\") of 14.5% during 2021-2026. Rapidly increasing cybersecurity incidents and regulations requiring their reporting are driving the cybersecurity market. (Source: https://www.mordorintelligence.com/industry-reports/cyber-security-market)About SMARTSMART reduces the time needed to interpret and integrate large sets of data by offering powerful automated analyses. Rather than replacing the human analyst, he/she sets the parameters of the data collection via keywords and other social media information (e.g., usernames and links). This allows for the identification of data needing extraction and analysis. SMART extracts the relevant data and produces automated reports, thus allowing clients to work with a more manageable information set. SMART allows...