Cyngn Highlights Its Proprietary Computer Vision Advancements with NVIDIA Accelerated Computing

Rhea-AI Summary

Cyngn (Nasdaq: CYN) has announced advancements in its proprietary computer vision technology for industrial autonomous machines, leveraging NVIDIA accelerated computing. The announcement highlights Cyngn's DriveMod solutions, which utilize NVIDIA hardware and CUDA acceleration libraries to develop advanced self-driving features. The DriveMod system is deployed on material handling vehicles from manufacturers like BYD and John Deere. Cyngn's collaboration with Arauco resulted in pre-orders of 100 DriveMod Forklifts, showcasing features such as pallet enumeration and detection of non-standard pallet pockets. Cyngn's progress reflects years of collaboration with NVIDIA, a testament to their cutting-edge technologies.

Positive

• Cyngn announced advancements in proprietary computer vision technology.
• Utilization of NVIDIA hardware and CUDA acceleration libraries for advanced self-driving features.
• Deployment of DriveMod system on material handling vehicles from major manufacturers.
• Collaboration with Arauco led to pre-orders of 100 DriveMod Forklifts.
• DriveMod Forklift features sophisticated CV capabilities like pallet enumeration and non-standard pallet pocket detection.
• Reflects successful long-term collaboration with NVIDIA and participation in NVIDIA Inception program.

Negative

• No specific financial data or revenue figures provided.
• Unclear if these advancements will lead to immediate financial gains or stock value increase.
• No details on costs or investments associated with these technological developments.
• Potentially high research and development expenses.
• The announcement lacks quantitative metrics on the performance improvements delivered by the new features.

MENLO PARK, Calif., June 12, 2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) has announced progress of its proprietary computer vision (CV) technology for industrial autonomous machines, built on NVIDIA accelerated computing. This announcement showcases the cutting-edge capabilities of Cyngn's DriveMod solutions, highlighting how NVIDIA hardware and CUDA acceleration libraries have enabled Cyngn to develop differentiated self-driving features with artificial intelligence (AI), CV, and localization and mapping.

The DriveMod system has been successfully deployed on material handling vehicles from established manufacturers like BYD, Motrec, and Columbia Vehicle Group, catering to a diverse range of clients from private manufacturing and distribution companies to Fortune 100s like John Deere.

In collaboration with Arauco, which pre-ordered 100 DriveMod Forklifts last summer, Cyngn leveraged NVIDIA technologies to introduce sophisticated features to advance the capabilities of autonomous machines in industrial settings. The DriveMod Forklift showcases exciting capabilities in computer vision, including enumeration of the number of pallets in a tall stack and detection of non-standard pallet pockets. For full details, see Cyngn's blog post.

"Cyngn has been a part of the NVIDIA Inception program since our early days working on AI technology," said Cyngn's Chairman and Chief Executive Officer, Lior Tal. "Seeing years of collaboration evolve from research and development to deploying unique product features for end customers is not only exciting, but it is also a testament to the power of NVIDIA's cutting-edge technologies."

About Cyngn

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 from 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).

Where to Find Cyngn

• Website: https://cyngn.com
• Twitter: http://twitter.com/cyngn
• LinkedIn: https://www.linkedin.com/company/cyngn
• YouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez
investors@cyngn.com 

Media Contact
Luke Renner
media@cyngn.com 

Forward-Looking Statements

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. 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, including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results 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.

 

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SOURCE Cyngn

FAQ

What advancements has Cyngn made in computer vision technology?

Cyngn has made advancements in its proprietary computer vision technology for industrial autonomous machines, using NVIDIA accelerated computing.

How is Cyngn using NVIDIA hardware in its DriveMod solutions?

Cyngn uses NVIDIA hardware and CUDA acceleration libraries to develop advanced self-driving features in its DriveMod solutions.

Which manufacturers' vehicles use Cyngn's DriveMod system?

Cyngn's DriveMod system is deployed on material handling vehicles from manufacturers such as BYD, Motrec, and Columbia Vehicle Group.

What collaboration has Cyngn had with Arauco?

Cyngn collaborated with Arauco, resulting in pre-orders for 100 DriveMod Forklifts to enhance autonomous machine capabilities.

What are some features of the DriveMod Forklift?

The DriveMod Forklift includes features such as enumeration of pallets in tall stacks and detection of non-standard pallet pockets.

What is the significance of Cyngn's long-term collaboration with NVIDIA?

Cyngn's long-term collaboration with NVIDIA has evolved from research and development to deploying unique product features, showcasing the power of NVIDIA's technologies.