LONDON, UK / ACCESSWIRE / September 29, 2017 / Pro-Trader Daily looks at the latest corporate events and news making the headlines for Remark Holdings Inc. (NASDAQ: MARK), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MARK. The Company announced on September 27, 2017, that one of the largest state-owned enterprises in China has awarded a seven-figure contract to the Company for providing a facial and object recognition technology to a Shanghai municipal health agency. The technology is intended to ensure that restaurants comply with local food safety laws. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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How Technology Works?

  • The technology, utilizing artificial intelligence (AI), will be initially installed in 200 restaurants and later will be expanded to around 2,000 facilities.
  • It instantly analyzes the images obtained from an AI device designed by KanKan and attached to cameras installed in a restaurant kitchen.
  • In the next step, the software detects any violation of the specified food safety laws and extracts screen images, with violation details, that can be reviewed by the health agency.

The Same Safety-Enforcement System can be used in Many Other Situations

Kai-Shing Tao, Chairman and CEO of Remark Holdings, stated that this contract shows that the Company can monetize its AI technology, including facial and object recognition and it sets the foundation to potentially triple its business with the city of Shanghai in 2018 and expand to most of the eight million restaurants located in cities throughout China. He further added that this same safety-enforcement system, which is largely automated, scalable and which helps eliminate human error, can be used in many other situations, such as at construction sites to ensure the use of hard hats and goggles for workplace safety.

KanKan AI Platform

  • The KanKan AI Platform is designed as a one-stop shop providing small to large enterprises and developers the ability to customize and train their own AI models for their businesses.
  • Remark Holdings utilizes KanKan's extensive data sets to train its KanKan AI Platform with millions of supervised and unsupervised samples.
  • It helps the Company in developing models that extract facial features and recognize objects, such as branded logos, animals or license plates, with a high degree of precision.
  • Accuracy rate of more than 96% has been observed in KanKan's facial-recognition and object-recognition technology.

About Remark Holdings Inc.

Founded in 2006, Remark Holdings Inc. focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries. The Company operates KanKan, a social media application and data intelligence platform, which aggregates content and consumer-shopping data across social media platforms. Headquartered in Las Vegas, Nevada, Remark Holdings has additional offices in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China.

Last Close Stock Review

On Thursday, September 28, 2017, the stock closed the trading session at $3.78, slightly down 0.79% from its previous closing price of $3.81. A total volume of 1.31 million shares have exchanged hands, which was higher than the 3-month average volume of 163.38 thousand shares. Remark Holdings' stock price skyrocketed 68.00% in the last one month, 35.48% in the past three months, and 26.00% in the previous six months. The stock currently has a market cap of $87.77 million.

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