Minnesota DOT Selects Quarterhill';s iTHEIA™ AI Classification System for Traffic Monitoring
Rhea-AI Summary
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has been awarded a contract to supply 15 portable iTHEIA™ AI Video Automatic Traffic Recorders to the Minnesota Department of Transportation (MnDOT). iTHEIA is a self-contained, non-intrusive traffic classifier that uses advanced AI to accurately count and classify vehicles according to the FHWA 13-Class scheme. The system operates on edge computing, ensuring high accuracy without internet connectivity, and can be set up in under 30 minutes.
Key benefits of iTHEIA include:
- Improved road safety and traffic management
- Elimination of in-road sensors, reducing costs and enhancing safety
- Ability to monitor three lanes of traffic without risking staff safety
- Compliance with federal reporting requirements
This contract represents a significant milestone for Quarterhill, reinforcing its commitment to revolutionizing traffic data collection using AI technology.
Positive
- Contract awarded for supply of 15 iTHEIA™ AI Video Automatic Traffic Recorders to Minnesota DOT
- iTHEIA system offers improved safety, efficiency, and accuracy in traffic data collection
- Product eliminates need for in-road sensors, reducing costs and enhancing safety
- System complies with Federal Highway Administration's 13-Class scheme for vehicle classification
Negative
- None.
News Market Reaction
On the day this news was published, QTRHF declined 2.85%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Quarterhill will supply 15 portable iTHEIA™ video-based AI traffic count and classification systems for the Minnesota Department of Transportation.
- iTHEIA is a self-contained, non-intrusive traffic classifier that sets a new standard for safety, efficiency, and accuracy in traffic data collection.
Quarterhill's iTHEIA utilizes advanced AI to accurately count and classify all common vehicle types, including passenger cars, trucks, buses, RVs, and motorcycles. iTHEIA operates on a powerful edge computing platform, ensuring high accuracy and reliability without requiring internet connectivity. This provides a self-contained system that does not need cloud processing to classify but can be connected to a network for easy access to data if desired.
By using iTHEIA, transportation agencies like MnDOT can efficiently improve road safety and enhance traffic management. For these agencies, it is important that traffic data meets federal reporting requirements, and iTHEIA has been trained to classify vehicles according to the Federal Highway Administration's standard ("FHWA") 13-Class scheme.
The Portable iTHEIA system is intended for short-term deployments, providing a simple way to acquire data from multiple locations. iTHEIA eliminates the need for in-road sensors, reducing costs and enhancing safety as users never have to set foot on the road to set up and operate the system.
"iTHEIA is a game-changer for us," stated John Hackett from the Minnesota Department of Transportation. "Deploying this AI classifier device is fast and simple – setup in under 30 minutes – and it watches over three lanes of traffic without risk to our staff's safety on busy roads. The iTHEIA AI Classifier is the only way we can get FHWA 13 Class counts on some of our busy roadways."
"MnDOT's order for multiple portable iTHEIA units represents a significant milestone for Quarterhill," said Chuck Myers, CEO of Quarterhill. "It not only reinforces our commitment to revolutionizing traffic data using AI but also marks an exciting step forward in our partnership with the state. It signals to the industry and to our customers that we are setting the standard for safety, efficiency, and accuracy in traffic data collection."
About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.
Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of Quarterhill based on future economic conditions and courses of action. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", "plan", "goal", "expect" and similar expressions.
Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View original content:https://www.prnewswire.com/news-releases/minnesota-dot-selects-quarterhills-itheia-ai-classification-system-for-traffic-monitoring-302237621.html
SOURCE Quarterhill Inc.
FAQ
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