Remark Holdings Collaborates with Google Public Sector to Accelerate Computer Vision AI Innovation in New York State
Rhea-AI Summary
Remark Holdings (OTC PINK:MARK) has announced a strategic collaboration with Google Public Sector to implement its computer vision AI technology across New York State's public sector projects. The partnership is part of a two-year Enterprise Cloud Services Agreement between Google Public Sector and the New York State Office of Information Technology Services (ITS).
The collaboration aims to modernize government operations by integrating Remark's AI technology into various state agencies, focusing on infrastructure monitoring, public safety, and healthcare delivery. The partnership will enhance visual data processing capabilities, streamline workflows, and improve decision-making processes while connecting disparate systems to increase efficiency and reduce costs.
Positive
- Strategic partnership with Google Public Sector enhances market presence and credibility
- Two-year Enterprise Cloud Services Agreement provides steady revenue stream
- Expansion into New York State public sector opens significant market opportunities
- Integration with government systems creates potential for long-term recurring revenue
Negative
- No specific financial terms or revenue projections disclosed
- Operating on OTC Pink market may limit institutional investment potential
News Market Reaction 1 Alert
On the day this news was published, MARK gained 8.81%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK CITY, NY / ACCESS Newswire / May 16, 2025 / Remark Holdings, Inc. (OTC PINK:MARK), a leading provider of AI-powered computer vision analytics, smart city, and smart agent solutions is proud to announce that Google Public Sector has selected our advanced computer-vision AI technology to power key public sector projects across New York. This collaboration is part of Google Public Sector's broader initiative to modernize government operations, enhance service delivery, and drive digital transformation across the state.
Through a landmark two-year Enterprise Cloud Services Agreement with the New York State Office of Information Technology Services (ITS), Google Public Sector is providing state agencies with secure access to cutting-edge cloud and AI tools-including Remark's computer vision AI-to support data analytics, disaster recovery, and operational efficiency. By integrating our technology, Google Public Sector is enabling state employees to automate information retrieval, streamline workflows, and improve decision-making in critical areas such as infrastructure monitoring, public safety, and healthcare delivery.
This partnership will:
Enhance the state's ability to process and analyze visual data from diverse sources, improving response times and service quality.
Support ongoing efforts to connect and integrate disparate systems, increasing efficiency and reducing costs.
Provide training and support to ensure agencies maximize the benefits of AI-driven solutions.
"By combining our computer vision AI with Google Public Sector's scale and reach, we are setting a new standard for how technology can transform public sector services - turning complex visual data into actionable insights for the people of New York State." said Kai-Shing Tao, Chairman and CEO of Remark Holdings, Inc.
About Remark Holdings, Inc.
Remark Holdings, Inc. (OTC: MARK) is a leading AI-powered analytics platform that brings valuable insights to the video feeds provided by current cameras and computer vision solutions through its integrated suite of AI tools that provide real-time alerts for fire, smoke, and weapons detection and smart city CCTV video security solutions while hosting AI-powered agents through smart chat 311 Services, as well as helping organizations understand their customer behavior and demographics through smart retail and traffic analytics. Remark's global team of sector-experienced professionals has created award-winning GDPR-compliant and CCPA-compliant video analytics solutions that service the aviation, government agencies, hospitality, public safety, retail, and transportation sectors. The company's headquarters are in Las Vegas, Nevada, USA, with operational offices in New York and international offices in London, England. For more information, please visit our home page at www.remarkholdings.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment, and regulations. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in the future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions, and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
Company Contact
Fay Tian
Vice President of Investor Relations
Remark Holdings
F.Tian@remarkholdings.com
(+1) 626-623-2000
SOURCE: Remark Holdings, Inc.
View the original press release on ACCESS Newswire
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