Today Rich profiles another company in the tech sector. This time it’s Patriot One Technologies (TSX:PAT) (OTCQX:PTOTF), an artificial intelligence and machine learning software company that creates solutions for the detection of threats such as guns, knives, bombs, and chemicals.
Watch the video to learn about this company that could be the future of an incredibly important and fruitful industry.
Patriot One’s First-of-its-Kind System
Patriot One’s motto—”Deter, Detect and Defend”—extends from the company’s belief that the deployment of its PATSCAN platform will serve to diminish the epidemic of active threats that the world has been experiencing.
Since the 1970s, instances of domestic terrorism and active shooters have been on a global rise, necessitating a response from both government law makers and technology firms. To do its part, Patriot One develops the basis for portable devices and software to assist security personnel in the detection of concealed weapons. This tech utilizes radio wave emissions to target, identify, and notify personnel of threat potential through its recognition of specific wavelength patterns.
That means that whether a weapon is brandished or hidden, in plain sight or concealed under a person of interest’s clothing, Patriot One’s PATSCAN Cognitive Microwave Radar (CMR) solution can detect that weapon before it can be used.
Early warning systems are critical for the effective deployment of countermeasures. This is why the PATSCAN CMR product is so necessary. Placed at key access points, it is capable of covertly screening individuals, stationary or moving, for hidden weapons.
All of the PATSCAN platform components are cognitive learning solutes, meaning that the more items the scan, the better they learn. In addition, data fusion between the solution’s sensors allows for an even more comprehensive understanding of the targeted items. Through these innovations, an internal catalog of weapons vs non-violent weapons to grow more expansive the longer and the more frequently the solutions are deployed.
Patriot One’s Growing Global Applications
According to an extensive report from Homeland Security, the worldwide market for weapons detection systems is worth approximately $5.3 billion, and will grow to $7.5 billion over the next six years.
To capitalize on this global market, Patriot One recently initiated international sales. The company’s initial overseas PATSCAN reseller commitments represent nearly $2 million CAD altogether, though this is likely to increase as additional purchases are currently under review. Combined with Patriot One’s previous reseller commitment with West Virginia-based Cramer Security & Investigations, Inc., the company has already generated sales of $8.1 million over a three-year lease period.
What do you think? Is Patriot One’s PATSCAN platform the leading edge of weapons detection technology? Has Rich profiled another major player in an emerging market? Let us know down below. If you liked this video, also check out Rich’s profile of Universal mCloud.