Vancouver, British Columbia–(Newsfile Corp. – July 23, 2024) – Railtown AI Technologies, Inc. (CSE: RAIL) (OTCQB: RLAIF) (“Rail Town AI'',”Rail Town” or “companyRailtown is pleased to announce that it has entered into a joint development agreement with the Alberta Machine Learning Institute (Amii). Under the terms of the agreement, Railtown and Amii will partner on certain projects and builds related to Railtown's core AI conductor technology.
Under the terms of the agreement, Amii will provide Railtown with additional machine learning engineers and PhDs to co-develop specific builds that will be designed and managed by Railtown. As part of the agreement, all co-developed IP will be owned by Railtown.
“Our partnership with Amii (Alberta Machine Intelligence Institute) and Mila (Quebec Artificial Intelligence Institute) marks an important milestone in our efforts towards AI-driven innovation. Both institutes form part of the backbone of Canada's strategy to remain a global leader in AI research and innovation, thanks to pioneers in the field such as Richard Sutton (Amii) and Yoshua Bengio (MILA). Our collaboration with Amii gives us access to their unparalleled expertise in reinforcement learning and natural language processing. At the same time, our partnership with Mila allows us to leverage their groundbreaking research in deep learning and generative models to drive the development of new product features. These collaborations give Railtown a comprehensive and multifaceted approach to AI research and development, increasing our ability to innovate and continue to attract top AI talent in this highly competitive field,” said Dr. Elliot Holtham, co-founder and AI leader at Railtown.
Railtown CEO Cory Brandolini commented, “As a Canadian AI technology company, we are excited to partner with two of Canada's most respected AI labs, Amii (Alberta Machine Intelligence Institute) and the previously announced Mila (Quebec AI Institute), on specific projects for Railtown related to our research and machine learning efforts. Canada is home to some of the best AI talent in the world. Railtown has built its own talented team of AI engineers, and partnering with Amii and Mila will significantly accelerate and enhance the development of our Conductor AI technology.”
About Amii
The Alberta Machine Intelligence Institute (Amii) is one of three Canadian AI research centres as part of a pan-Canadian AI strategy. Based in Alberta, Amii supports world-leading research in artificial intelligence and machine learning, translating scientific advances into industrial adoption.
About Railtown AI Technologies
Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ platform for software developers and teams who practice Agile project management. We purposefully built our Application General Intelligence™ platform to help software developers and Agile practitioners save time on redundant tasks, improve productivity, reduce costs, and accelerate development velocity. Railtown's proprietary AI technology, designed to increase client productivity and profitability, is accessible through Microsoft's Azure Marketplace.
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On behalf of the Board
“Corey Brandolini” Cory Brandolini, Chief Executive Officer
Investor Contacts
Rebecca Carswell
Investor Relations and Marketing
Email: investors@railtown.ai
Phone: (604)417-4440
This press release contains forward-looking statements regarding our future operations and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “intend,” “expect,” “anticipate,” and similar terms. All statements other than statements of historical facts included in this release, including, without limitation, statements regarding our future plans and objectives, are forward-looking statements that involve risks and uncertainties. There can be no assurance that these statements will prove to be accurate, and actual results and future events may differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are the risks detailed from time to time in the documents we file with securities regulatory authorities.
Readers are cautioned that assumptions used in preparing the forward-looking information may prove to be inaccurate. Events and circumstances could cause actual results to differ materially from expectations as a result of a number of known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control. As a result, the Company can give no assurance that the forward-looking statements will come to pass, and readers should not place undue reliance on forward-looking information. Such information, even if considered reasonable by management at the time it is made, may prove to be inaccurate and actual results may differ materially from expectations. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company will publicly update or revise any contained forward-looking statements only as expressly required by Canadian securities legislation.
To view the source version of this press release, please visit: https://www.newsfilecorp.com/release/217419
