Factors that may affect our results, performance, circumstances or achievements include, but are not limited to the following: (i) market acceptance of our existing and new products, including those that utilize our micro Odysight.ai technology or offer Predictive Maintenance and Condition Based Monitoring applications, (ii) lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device and related industries from much larger, multinational companies, (v) product liability claims, product malfunctions and the functionality of Odysight.ai’s solutions under all environmental conditions, (vi) our limited manufacturing capabilities and reliance on third-parties for assistance, (vii) an inability to establish sales, marketing and distribution capabilities to commercialize our products, (viii) an inability to attract and retain qualified personnel, (ix) our efforts obtain and maintain intellectual property protection covering our products, which may not be successful, (x) our reliance on a single customer that accounts for a substantial portion of our revenues, (xi) our reliance on single suppliers for certain product components, including for miniature video sensors which are suitable for our Complementary Metal Oxide Semiconductor technology products, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain, (xiii) the impact of computer system failures, cyberattacks or deficiencies in our cybersecurity, (xiv) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical, global supply chain and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction and (xv) political, economic and military instability in Israel, including the impact of Israel’s war against Hamas and Hezbollah.
Expected Key Benefits of the Collaboration of Potential Nationwide Rollout: - Predictive Maintenance & Fault Prevention: Leveraging advanced sensors and AI algorithms, the system detects anomalies in real-time, expecting to identify potential faults before they escalate into costly malfunctions or safety hazards. - Enhanced Safety: By continuously monitoring the condition of railway switches, the system is expected to reduce the likelihood of mechanical or electronic failures, minimizing the risk of accidents and improving overall safety for passengers and staff.- Operational Efficiency: The system’s predictive capabilities streamline train operations which is expected to improve the accuracy of scheduling and reduce unexpected disruptions, leading to a more reliable and efficient service for passengers.
The new AI-driven system, developed in partnership with Israel Railways' Innovation Department, utilizes cutting-edge cameras and machine learning algorithms to monitor track switches in real-time, detect potential malfunctions, and predict issues before they lead to failures.Odysight.ai and Israel Railways plan to test the system in a pilot program across multiple railway lines in the coming months, with plans for a nationwide rollout once the system has been optimized.
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