MENLO PARK, Calif., May 03, 2023--(BUSINESS WIRE)--Cyngn, Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, has announced the release of its Enterprise Autonomy Suite (EAS) version 9.0.
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The newest version of EAS comes with a suite of intelligent fleet management tools, which customers can use to manage and monitor their fleets from any location. It helps customers manage data from the field, which can help Cyngn pinpoint opportunities to train and continually improve its AI models. The new update includes a variety of helpful mission planning capabilities, intuitive mission queuing, and insightful performance data.
"Autonomous vehicles that are equipped with Cyngn technology represent a massive opportunity for industrial organizations to address the significant problems they face with labor shortages, increased labor costs, and losses due to accidents," said Lior Tal, Cyngn’s CEO. "The release of EAS 9.0 is a key upgrade to our fleet management and analytics software. EAS integrates with our customers’ existing workflows and greatly improves operators’ abilities to deploy a fleet of autonomous vehicles to easily get work done. With 9.0, the user interface is easier to navigate, making it simple for our customers to tap into our advanced AI-powered capabilities."
New Features include:
Return to Home Automation. Enables DriveMod’s Artificial Intelligence to automatically route vehicles to a designated location if they lose network connectivity.
Intelligent Queueing. Allows operators to plan an entire autonomous vehicle shift before it begins.
Vehicle Insights. Enables viewing of important data from each vehicle to surface novel information from fleets of vehicles equipped with sensors.
Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.
Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.
Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. This press release also includes forward-looking statements with respect to Cyngn’s expectations of the efficiency of its solutions, the challenges it believes its solutions can address and the cost effectiveness of its solutions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the SEC. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results.
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