Visionstate Partners with Global Leader to Drive AI Innovation for WANDA Platform

(via TheNewswire)

AI model will revolutionize facility management

 

Edmonton, Alberta – May 21, 2024 –TheNewswire –Visionstate Corp. (TSXV: VIS)(“Visionstate” or the “Company”),a leading provider of smart facility management solutions, is thrilled to announce a groundbreaking collaboration with the Alberta Machine Intelligence Institute (Amii). This strategic partnership will propel the WANDA platform into the forefront of machine learning (ML) innovation.

 

The science of ML is advancing at an unprecedented pace. Amii, a global leader in machine intelligence, brings unparalleled expertise to the table. The working relationship will embark on a involve a project validation and product development process which will solidify Visionstate’s on going leadership in providing cutting-edge software to the facility management sector.

 

Visionstate has identified key areas of its software platform to leverage artificial intelligence to significantly improve operational efficiencies such as schedule and resource optimization. In working with Amii, Visionstate will utilize the expertise of a world leader in ML to execute on the Company’s AI strategy.

 

“We are very excited about working with Amii,” explained Visionstate IoT President Shannon Moore. “The impact of artificial intelligence will continue to reverberate throughout our lives and the way we do business. For Visionstate, this is a pivotal development as we continue to explore and execute on opportunities to introduce ML in a practical manner.”

 

The project validation process will dive deeply into the specifics of the ML project. It will ensure Visionstate’s initiative is well-defined, validated and ready for model development.

 

“Project validation de-risks our journey and lays the groundwork for a successful implementation,” Moore explained.

 

Market Size and Wide Applicability of AI in Facility Management

 

The adoption of AI in facility management is not only a strategic move but also a necessity in today’s dynamic business landscape. The global market for AI-driven facility management solutions is poised for substantial growth. As businesses recognize the value of AI in optimizing schedules, resources, and operations, the market size continues to expand.

 

AI models for schedule and resource optimization enable businesses to deploy the right resources at the right time. Whether managing staff shifts, allocating machinery, or optimizing supply chains, AI brings speed, flexibility, and intelligence to bear on complex problems.

 

The impact of AI in facility management also spans many industries, including healthcare, transportation, finance, retail, manufacturing, education, entertainment, agriculture, and more. By optimizing schedules, resource allocation, and operations, AI unlocks new levels of efficiency. In termsof business value, AI adoption translates into cost savings, improved service delivery, and enhanced competitiveness. The global market potential for AI-driven facility management solutions is substantial, with estimates reaching billions of dollars. 

 

“Visionstate has a very clear path forward when it comes to AI and ML technology,” Moore explained. “This project meets all of our requirements, including, IP ownership, the fact we are working with one of the leading ML institutes in the world, and the significant revenue potential this product will provide for our WANDA platform.”

 

As part of the Pan-Canadian AI Strategy, Amii’s threefold mission aligns perfectly with Visionstate’s vision:

 

1. Advancing Research: Amii pushes the frontiers of machine-intelligence research, exploring novel algorithms, techniques, and applications. 

2. Applied Solutions: Their ability to translate scientific breakthroughs into practical business solutions is unmatched. 

3. Talent Incubation: Amii accelerates the development of skilled professionals, bridging the gap between academia and industry. 

 

The validation process is expected to take approximately six weeks and will be followed by development of the ML model to be integrated with Visionstate’s facility management software.

 

About Visionstate Corp.

 

Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability.Visionstate IoT Inc. is a wholly owned division of Visionstate Corp.Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.As an equity partner in Sol Spaces, Visionstate Corp. holds approximately 40% ownership in the company, reaffirming its commitment to driving social impact and sustainable development through its investment portfolio.

  

Issued on behalf of the Board of Directors,

“John A. Putters”

Visionstate Corp.    

    

To learn more, please contact:

 

Visionstate IoT Inc.

Shannon Moore, President

Email:[e-mail]

Tel:[phone]

 

CHF Capital Markets

Kathy Chapman

Email:[e-mail]

Tel:[phone] x 234

 

Twitter:@visionstate

Facebook:@visionstate

LinkedIn:Visionstate Corp.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

     

Forward-Looking Statements

 

Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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