LAS VEGAS, June 12, 2019 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (AI) solutions and digital media properties, today announced the installation of KanKan-AI-powered solutions which are now operational in more than 2,000 taxis in the Chinese city of Xi'an. The completed installation is expected to result in approximately $1.0 million of revenue when fully recognized. KanKan's taxi-safety-monitoring system, includes intelligent and digital upgrading of taxi-monitoring management systems that further improve the safety of taxi operations.
As a result of a new methanol-driven upgrading plan, today's taxi fleets in China are becoming more environmentally-friendly, and now the industry-leading terminal equipment powered by KanKan-AI solutions is being installed to begin to help fleet operations become safer.
The taxis are outfitted with an intuitive user experience featuring eight-inch display screens that provide navigation information, allow for internet order receiving and allow for QR-code-based payments, among other functionalities. The system requires qualified taxi drivers to login via facial recognition, thereby preventing unauthorized or illegal use of the taxi by unqualified persons. Once logged in, the driver can monitor video from the four-channel, high-definition cameras observing the front, back and trunk of the vehicle. Also, using video analysis technology, the system continually scans for driver violations such as smoking, operating a mobile device, or distracted driving. The monitoring terminal can transmit real-time video from inside of a vehicle directly to traffic and public security departments via 4G networks, resulting in improved safety, providing necessary information to law enforcement and evidence collection agencies and allowing management departments to more effectively handle disputes between drivers and passengers.
"The introduction of our AI solutions into taxi fleets is an exciting new application that successfully solves the problem of providing for driver, passenger, and vehicle exterior safety," said Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. "The positive feedback and adoption from our taxi operators in Xi'an leads us to new growth opportunities in Guiyang and Chongqing, with an addressable market of 25,000 vehicles and an additional revenue opportunity of more than $10 million."
About Remark Holdings, Inc. Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. The company's easy-to-install AI products are being rolled out in a wide range of applications within the retail, financial, public safety and workplace arenas. The company also owns and operates digital media properties that deliver relevant, dynamic content and ecommerce solutions. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.
Company Contact: Alison Davidson Remark Holdings, Inc. [email protected] 702-701-9514
Investor Relations Contact: Brad Edwards The Plunkett Group, Inc. [email protected] 914-582-4187