Remark Holdings, Inc. Releases Version 1.0 of its AI-powered Video Analytics System for Aircraft Engine Inspections And Safety
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LAS VEGAS, Nov. 30, 2023 ~ Remark Holdings, Inc. (Nasdaq: MARK), a diversified global technology company, has released version 1.0 of its Airline Engine Safety Inspection System (AESIS). The system is designed to detect in real-time critical defects or damage in all types of aircraft engine turbine blades that have the potential for ablation, cracks, or other forms of damage.

AESIS 1.0 is intended for use by airlines, airline maintenance teams, engine manufacturers, airplane manufacturers, aircraft leasing companies, insurance companies, and regulators. It gives warning prompts in real time to engineers when it detects damages or defects along with the size and depth of the damage or defects with suggested severity level for engineers to make a further determination on whether the engine is suitable for the next flight or needs to be sent to shop for repair.

Remark's AESIS 1.0 can reduce the engine turbine blades inspection time from an average of 40 hours down to 2 hours; it also lower the damage mis-detection rate from an average of 5% to less than 1%. This can help airlines save significant cost and time as they can repurpose their resources to provide more valuable services to their customers.

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The company intends to demonstrate its Aircraft Engine Inspection System at the MRO (i.e. Maintenance, Repair, and Overhaul) Americas Aviation Week at the McCormick Center in Chicago and the Farnborough International Airshow in Farnborough, UK in 2024. These airshows are attended by aerospace giants such as Boeing, Airbus, AirLease, GE Aviation, Pratt & Whitney, Rolls-Royce; representatives from top twenty airlines in the world including American Airlines, British Airways, Delta Airlines; Japan Airlines; Qatar Airways; and United Airlines; as well as major defense contractors generally attend these airshows.

Remark Holdings is an AI-powered analytics platform that brings valuable insights to video feeds provided by current cameras and computer vision solutions through its integrated suite of AI tools that help organizations understand their customer behavior and demographics while providing real-time alerts to predetermined inspection and security parameters. The company's headquarters are located in Las Vegas with operational offices in New York and international offices in London.

With this release of AESIS 1.0 Remark Holdings hopes that it will be able to provide a practical solution for airlines who are facing increasing maintenance costs each year due to complex engineering requirements for aircraft engines which must be manufactured maintained and regularly inspected according to rigorous specifications any deviations or defects from these specifications can lead not only performance efficiency but also safety issues if unattended ablation damage gets a certain severity not only affects engine safety but also increases maintenance cost as a new blade can cost five times more than a fixable blade
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