Rekor's Waycare, Volvo Cars Bond Over AI Crash Prediction

Rekor Systems Inc's REKR Waycare subsidiary will conduct a strategic research initiative by Geely Automobile Holdings Ltd GELYF GELYY owned Volvo Cars to ascertain how they can use artificial intelligence to enable predictive awareness in a smart city context.
The six-month pilot test, beginning in October 2021, involves the Waycare technology for AI-based crash prediction in Volvo Cars' hometown of Gothenburg, Sweden.
Volvo Cars lead the research project for Drive Sweden's AI Aware program, which investigates and tests central traffic control that supports connected and automated vehicles.
Waycare will perform the test with the Swedish Transport Administration (STA) and the Gothenburg Traffic Management Center (TMC).
"Our crash prediction technology and traffic data has been shown to reduce crashes by up to 18% when paired with proactive police presence and other measures, and we are excited to help Gothenburg, and Sweden better understand how AI-enabled insights from connected vehicles can provide significant benefits including more efficient use of public funding and improved safety for drivers," Rekor CEO Robert A. Berman said.
Price Action: REKR shares traded lower by 0.08% at $11.96 in the market session on the last check Monday.