- Strategic Initiative in Food and Civil Services Sector
- Pioneering Solutions for the Global Food Security Challenge
TORONTO, ON / ACCESSWIRE / March 20, 2024 / Deepspatial (CSE:DSAI)(OTCQB:DSAIF) ("Deepspatial" or the "Company"), an outcome-based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI, is thrilled to announce a significant government contract valued at over $800,000. This end-to-end service agreement spans an initial period of three years, marking a significant milestone in Deepspatial's venture in addressing the global food crisis.
The global food crisis is affecting millions of people around the world. Global food insecurity and hunger are present everywhere around the world: from urban slums and isolated communities in the developing world, to cities in industrialized countries. the UN's Food and Agriculture Organization estimates the costs of food insecurity to the global economy to be as high as $3.5 trillion per year.1 In 2023, record levels of acute food insecurity persist due to protracted food crises and new shocks. In 48 countries, 238 million people are facing high levels of acute food insecurity - 10% more than in 2022.2 In 2023, the main drivers were conflict/insecurity, economic shocks, and weather extremes. The applicability of Deepspatial's AI platform in addressing food security presents promising growth prospects for the company across multiple nations while addressing a crisis which carries a significant economic and social toll to the global economy.
Over the next eight months, Deepspatial will deploy its cutting-edge AI platform across more than 4,500 locations within one state in India, starting in April 2024. This ambitious project aims to enhance public distribution, market enforcement, and consumer protection through advanced data analytics and AI technologies. Deepspatial's platform will ensure that essential goods and services reach those in need efficiently and effectively. This technology will play a pivotal role in enhancing market discipline and safeguarding consumer interests by providing real-time insights and analytics for decision-makers.
This strategic partnership was secured in collaboration with a leading system integrator, through a competitive bid and RFP process. The collaboration signifies Deepspatial's commitment to leveraging its proprietary technology to address complex challenges in the public sector, ensuring efficient service delivers and enhanced consumer satisfaction.
"We are excited to embark on this journey, expanding our footprint in the government sector," commented Dr. Rahul Kushwah, CEO of Deepspatial AI. "This contract not only signifies trust in our technology and team but also opens new avenues for us to make a substantial impact on global food crisis through AI." Deepspatial's expansion into the food and civil supplies domain underscores its versatility and the scalability of its geospatial AI solutions, promising to set new benchmarks in service excellence and innovation.
1https://www.citigroup.com/global/insights/citigps/food-security
2https://reliefweb.int/report/world/global-food-crisis-what-you-need-know-2023
About Deepspatial Inc.
Deepspatial is an outcome based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI. From finding the most efficient supply chain routes to knowing where to develop next, Deepspatial's AI-driven platform enables its clients to visualize what's going on, predict what's coming, analyze data, and optimize processes to make smarter decisions for a better future. For more information, visit www.Deepspatial.ai and follow us on Twitter, Instagram or LinkedIn.
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Contacts
For more information, please contact:
Investor Relations
Corey Matthews
[email protected]
Chief Exeuctive Officer
Dr. Rahul Kushwah
[email protected]
SOURCE: DeepSpatial Inc.