Innovative Tech Stocks Using AI to Protect Americans as States Move Forward With Reopening Efforts
FN Media Group Presents Microsmallcap.com Market Commentary
NEW YORK, July 9, 2020 /PRNewswire/ -- States across the US remain eager to get back to normal life, but a spike in COVID-19 cases after premature reopening reveals the need for advanced testing and tracking solutions. According to the National Institutes of Health Director Dr. Francis Collins, rapid coronavirus testing, which can produce results in under an hour, will allow Americans to attend sports events in time for the fall football season. Meanwhile, retail businesses are implementing temperature checks to aid them in reopening efforts. Luckily, there are innovative companies like Raytheon Technologies Corp. (NYSE:RTX), Intel Corporation (NASDAQ:INTC), Alibaba Group Holding Ltd (NYSE:BABA), Baidu, Inc. (NASDAQ:BIDU), and Patriot One Technologies (TSX:PAT) (OTCQX:PTOTF) creating technology to help make the transition to the new norm go smoothly.
Making Sporting Events and Public Venues Safer Post-COVID-19
Sports fans and athletes across the US and beyond have been frustrated by cancelled games after public health officials urged event-based businesses to temporarily close in March as COVID-19 spread rapidly across the globe. In an effort to keep sporting events safe once they reopen, US health officials are putting together a point-of-care COVID-19 test that gives results within an hour and can be administered at sporting events. At the same time, tech companies are stepping in to provide enhanced screening capabilities to add another layer of protection.
Patriot One Technologies (PAT.TO) (PTOTF.QX) is using its new Patscan VRS-T Thermal Elevated Body Temperature Identification Module to enhance security and arena safety at Banc of California Stadium. The company has joined forces with the Los Angeles Football Club (LAFC) and Banc of California Stadium to form "The Stadium & Event Safety Strategic Alliance," which will utilize the groundbreaking security technology to turn Banc of California Stadium into a global showcase venue to advance the safety and security for public gathering spaces.
Patriot One Technologies' (PAT.TO) (PTOTF.QX) PATSCAN VRS-T Thermal Elevated Body Temperature and PATSCAN VRS-HS Facial Mask Detection modules work with off-the-shelf thermal and digital cameras to detect elevated body temperatures and facial mask compliance. Both modules are being implemented at the Banc of California Stadium this summer and the company is also planning to launch a third and fourth module for social distancing and contact tracing, which will be available later this year.
Although the company's new health and safety modules are being rolled out at a sports stadium, the technology can also be used at movie theaters, hotels and resorts, casinos, retailers, and other venues both large and small.
Intel Corporation (NASDAQ:INTC) is also aiding in venue reopening across the US through a partnership with IntraEdge and Pyramid Computer. The trio has combined forces to develop turn-key contactless, market-ready self-check temperature kiosks to support business reopenings. The Janus kiosks can be installed freestanding, on a countertop or using a wall mount. All touchpoints on the contactless kiosks are ADA compliant and have an audio interface for visually impaired users.
Meanwhile, Chinese AI mogul Baidu, Inc. (NASDAQ:BIDU) has developed AI-powered temperature scanners to make public transit safer in China just days after the Beijing government began using infrared-imaging temperature scanners and handheld thermometers at all of its city subway stations. The system can detect the temperature of masked people on the move, with a margin of error within 0.05 degrees Celsius.
Using Innovative Tech to Boost COVID-19 Testing Capabilities
Another way technology companies are helping in the global fight against COVID-19 is by enhancing testing capabilities.
Chinese internet giant Alibaba Group's (NYSE:BABA) research and innovation institute DAMO Academy has developed an AI-enabled system that has the ability to diagnose the coronavirus in 20 seconds with 96% accuracy. The AI system identifies the virus through computed tomography scans of the chest and uses an algorithm that has been trained with data and CT scans from over 5,000 confirmed coronavirus cases.
As of March, Alibaba Group's system was already being used by 26 hospitals in China and has helped diagnose over 30,000 cases. The company has also presented its machine-learning software for chest scans to healthcare representatives in Italy and France.
US-based disruptive technology company Raytheon Technologies Corp. (NYSE:RTX) is also assisting with the ramp-up in speed and accuracy of COVID-19 testing using a proven cybersecurity tool. The unique approach, in which an inexpensive paper strip test uses saliva to provide a reliable diagnosis in 30-45 minutes without extraction procedures, labs, or equipment, is being developed under an agreement with Purdue University, PortaScience Inc., Cortex Design Inc, and LaDuca LLC. Raytheon BBN Technologies is contributing a tool originally developed to detect malware in network traffic.
"Raytheon is adapting cyber tools designed to sift through massive amounts of cyber data to detect COVID-19," explained President of Raytheon BBN Technologies, Brad Tousley. "Instead of detecting bad code on a network, we're looking for the virus' unique RNA sequences for Purdue to target in the test."
Although countries around the world may still be weeks or even months away from reopening sports arenas and public venues, the technology being developed by Raytheon Technologies Corp., Intel Corporation, Alibaba Group Holding Ltd, Baidu, Inc. and Patriot One Technologies (PAT.TO) (PTOTF.QX) are expected to make them safer once we return to the new norm.
For more information about Patriot One Technologies (TSX:PAT) (OTCQX:PTOTF), click here.
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