SPYR Inc, doing business as SPYR Technologies (OTCQB:SPYR), announced that its subsidiary Applied Magix Inc, is exploring artificial intelligence (AI) applications for inclusion into its products.
Woodlands, Texas-based SPYR (OTCQB:SPYR) Technologies, through its subsidiary Applied Magix, develops and resells Apple ecosystem compatible products in the multibillion-dollar smart home and connected car markets.
SPYR noted that while the popular view of AI, nurtured by Hollywood and mainstream media, portrays robots and supercomputers' ambitions to take over the world, the reality within the realm of Internet of things (IoT) space appears “far more banal on the surface.” It involves the use of AI decision-making systems to regulate and "decide" on actions within our environment, pointed out the company.
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"As part of our Secret Lab initiatives, AI frequently comes to the forefront of product development and how to make smart hardware even smarter," Applied Magix CEO Dr Harald Zink said in a statement. "For example, various sensors track a number of conditions around your house, but when processed by an AI system, analysis of those conditions can be used to trigger actions that increase security or save you money in the long run."
Meanwhile, SPYR Technologies CEO Tim Matula noted that AI is a “fascinating field” that is fast growing and shows “a tremendous amount of promise to make our lives easier in an enriching way.”
"It's exciting to get updates on what Applied Magix's Secret Lab is exploring and working on and will hopefully be finding its way into our homes at some point in the future," added Matula.
Applied Magix doesn't discuss future products, even really exciting ones, but keep checking SPYR and Applied Magix's websites for news on developments and products.
In addition, SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (AI) and smart technology products.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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