Wearable Devices Introduces AI-Based Gesture Recognition Algorithm that is Optimized for User-Inclusive Accuracy for Apple Devices

Mudra Band's Gesture Algorithm Focusing on Finger Movement Exceled in 1,000-User Test, Ready for Widespread Mobile OS Deployment

YOKNEAM ILLIT, ISRAEL, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a pioneering tech firm specializing in AI-powered touchless sensing wearables, today announced that its gesture recognition algorithm has passed accuracy performance testing on a carefully curated custom dataset for finger movement recognition based on first-time usage. The AI-based system is designed to produce models that address the three essential user experience requirements of accuracy, false positive recognition, and responsiveness.

The algorithm is universally compatible with the leading mobile operating systems. This includes support for TensorFlow Lite (tf-lite), a deep-learning framework for on-device inference, and Core ML, which facilitates the seamless integration of machine learning models into Apple devices. Versions based on TensorFlow Lite Micro are also available for embedded applications.

Leeor Langer, Chief Technology Officer and Co-Founder of Wearable Devices, commented, “We are pleased to surpass the 1,000-user test benchmark for our innovative gesture recognition algorithm, and are eagerly setting our sights on the next milestone of 10,000 users. Traditional input methods like the mouse and keyboard, while accurate and fast, lack mobility and hands-free operation, making them ill-suited for extended reality (XR) applications. Optical-based gesture recognition offers some mobility but has its limitations. Our AI-based algorithm circumvents these challenges, eliminating the need for cumbersome devices and field-of-view constraints. Combined with inertial measurement unit (IMU)-based air mouse solutions and biopotentials, we believe that we are building a superior system that optimizes the user experience for our products.”

About Wearable Devices Ltd.

Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovatve AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbol “WLDS” and “WLDSW”, respectively.

Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the potential for wider deployment of the Mudra Band and future user milestones, as well as optimization of the user experience. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2022, filed on March 22, 2023 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Relations Contact

Walter Frank
IMS Investor Relations
203.972.9200
[email protected]

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