Rekor Systems Inc. (NASDAQ: REKR) stock gained by 3.76% at last close while the REKR stock price surges by 7.15% in the pre-market trading session. Rekor Systems, Inc. is a globally recognized specialist in intelligent infrastructure, offering solutions that make the world a safer, smarter, and more efficient place.
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REKR stock’ Significant Development
The Louisiana Department of Transportation and Development (LaDOTD) has chosen Rekor Systems, Inc.’s Waycare Technologies subsidiary for a pilot programme to help minimize traffic congestion and collisions in the Baton Rouge area, as well as encourage speed harmonization for a safer driving experience. The first deployment, which began on July 15, 2021, concentrates on some of the region’s most deadly highway sections: Interstate 10 (“I-10”) and Interstate 12 (“I-12”) (“I-12”).
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REKR will evaluate massive data sets from several Louisiana agency sources using its sophisticated AI algorithms and machine learning. The company’s easy traffic management system has been incorporated into LaDOTD’s Traffic Management Center and Motorist Assist Patrol to aid in this real-time, automated incident identification, crash prediction, and predicting, providing the agency with interactive technology for more effective responses and planning. This application serves as a model for Rekor’s expanding focus on offering intelligent infrastructure and data to government customers in order to develop smarter, safer cities.
LaDOTD will get access to vital insights into driver behavior and road events as a result of the company’s various linked car collaborations. The pilot programme will act as a useful test to assess how such systems can enhance travel demand management in the region, given the impending construction along the I-10 and I-12 corridors. The pilot programme is a common first step for states to apply what they’ve learned before expanding their deployment.
This deployment follows a strong partnership with the Regional Transportation Commission (RTC) of Southern Nevada, the Nevada Highway Patrol (NHP), and the Nevada Department of Transportation (NDOT), in which the Company’s predictive modeling and integrated platform resulted in an 18 percent reduction in crashes, resulting in a $3 million cost savings.