- The Louisiana Department of Transportation and Development (LaDOTD) had selected AI technology company Rekor Systems Inc's REKR Waycare Technologies subsidiary for a pilot program. The financial terms of the agreement were not disclosed.
- Waycare will help the LaDOTD reduce congestion and collisions in the Baton Rouge area and promote speed harmonization for a safer driving experience.
- The initial deployment, which kicked off July 15, focused on some of the region's most dangerous sections of highway, Interstate 10 ("I-10") and Interstate 12 ("I-12").
- Rekor has seen a sharp increase in demand from government agencies for real-time, AI-driven insights from roadways to build smarter and safer cities, CEO Robert Berman said.
- Price Action: REKR shares traded higher by 15.55% at $13.23 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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