Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Railtown AI Technologies Inc. (CSE: RAIL) (OTCQB: RLAIF) ("Railtown AI'', "Railtown" or the "Company") is pleased to announce that it has entered into a co-development agreement with The Alberta Machine Learning Institute (Amii). Under the terms of the agreement, Railtown and Amii will partner together on a specific project and build that is related to Railtown's core AI Conductor Technology.
Under the terms of the agreement Amii will provide Railtown with additional machine learning engineers and PHD's to co-develop a specific build designed and managed by Railtown. As part of the agreement all co-developed IP will be owned by Railtown.
"Partnering with both Amii (Alberta Machine Intelligence Institute) and Mila (Quebec Artificial Intelligence Institute) marks a significant milestone in our commitment to AI-driven innovation. Both institutes form part of the backbone of Canada's strategy to continue to be a global leader in AI research and innovation thanks to pioneers in the field such as Richard Sutton (Amii) and Yoshua Bengio (MILA). By collaborating with Amii, we gain access to their unparalleled expertise in reinforcement learning and natural language processing. Simultaneously, our partnership with Mila allows us to tap into their groundbreaking work in deep learning and generative models, driving the development of new product features. These collaborations provide Railtown with a comprehensive and multifaceted approach to AI research and development, enhancing our ability to innovate and continue to attract top AI talent in such a competitive field," states Railtown co-founder and AI Lead Dr. Elliot Holtham.
Cory Brandolini, Railtown CEO, comments, "As a Canadian AI technology company, we are thrilled to be able to partner with two of Canada's most respected AI institutes - Amii - The Alberta Machine Intelligence Institute, and the previously announced Mila - Quebec AI Institute - on specific Railtown projects that are related to research and machine learning initiatives. Canada has some of the best AI talent anywhere in the world; Railtown has built its own talented team of AI engineers, and our partnerships with Amii and Mila will significantly accelerate and enhance the development of our Conductor AI Technologies."
About Amii
The Alberta Machine Intelligence Institute (Amii) is one of Canada's three centers of AI excellence as part of the Pan-Canadian AI Strategy. Based in Alberta, Amii supports world-leading research in artificial intelligence and machine learning and translates scientific advancement into industry adoption.
About Railtown AI Technologies
Railtown AI, a Microsoft Partner, is a cloud-based Application General Intelligence™ Platform for Software Developers and Teams that practice Agile Project Management. We purposely built our Application General Intelligence™ Platform to help Software Developers and Agile practitioners save time on redundant tasks, improve productivity, drive down costs, and accelerate developer velocity. Railtown's proprietary AI technology, designed to enable our clients to be more productive and profitable, is accessible on Microsoft's Azure Marketplace.
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ON BEHALF OF THE BOARD
"Cory Brandolini" Cory Brandolini, Chief Executive Officer
INVESTOR CONTACT
Rebecca Kerswell
Investor Relations and Marketing
Email: investors@railtown.ai
Phone: (604)417-4440
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may", "should", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.
Readers are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. 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 only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
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