Deepspatial Announces Government Contract for Its AI-driven Education Platform

Rhea-AI Summary

Deepspatial (CSE:DSAI)(OTCQB:DSAIF) announces a $200,000 contract win in India for its AI-driven education platform, potentially leading to a long-term collaboration. The company secured the contract through a collaborative bid with a reputable technology integrator, showcasing the platform's potential to reshape pedagogical approaches and improve learning outcomes. Dr. Rahul Kushwah, CEO of Deepspatial, expressed commitment to leveraging their expertise and technology to foster inclusive, data-driven educational models.

Positive

• Successful acquisition of a government contract in India
• Potential for a long-term collaboration
• Innovative AI-driven education platform with potential to reshape pedagogical approaches and improve learning outcomes
• CEO's commitment to leveraging expertise and technology for inclusive, data-driven educational models

Negative

• Issuing of 270,000 and 150,000 common shares to consultants for services provided

TORONTO, ON / ACCESSWIRE / December 7, 2023 / 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 pleased to announce its recent contract win in one of the states in India for its innovative AI-driven education platform.

The contract, initially valued at $200,000 for the first year, signifies the commencement of a potentially long-term collaboration. Upon successful platform deployment, this engagement is anticipated to extend into a multi-year commitment encompassing comprehensive support, service, and updates.

Deepspatial secured this significant contract following a thorough government selection process, where its collaborative bid with a reputable technology integrator was identified as the most technically and commercially viable solution. The platform's ground-breaking approach in integrating Item Response Theory (IRT) and pioneering multidisciplinary concepts in school education has garnered attention for its potential to reshape pedagogical approaches and improve learning outcomes. The company's AI-driven education platform introduces novel multidisciplinary concepts in school education, notably integrating practical applications of IRT. This innovative framework empowers educators to personalize learning experiences, enabling a more nuanced understanding of students' strengths and areas for improvement, fostering a more tailored educational environment.

The wide-ranging applicability of Deepspatial's AI platform in meeting universal educational requirements across diverse nations and all Indian states presents promising growth prospects for the company. Its adaptive nature and capacity to cater to varied educational contexts showcase the platform's scalability and potential to positively impact educational systems on a global scale.

Dr. Rahul Kushwah, CEO of Deepspatial, commented, "The successful acquisition of this government contract underscores the strength and relevance of our AI platform in transforming educational landscapes nationwide. We are committed to leveraging our expertise and technology to foster inclusive, data-driven educational models that empower educators and learners alike. We are actively pursuing similar opportunities, building on the proven effectiveness of our technology."

The company will be issuing 270,000 and 150,000 common shares to two consultants as consideration for the services provided by the consultants to the company. The shares will be subject to a hold period of 4 months from the date of issuance.

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.

Caution regarding Forward Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19;risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.

Contacts

For more information, please contact:

Investor Relations
Corey Matthews
Investors@deepspatial.ai

Chief Exeuctive Officer
Dr. Rahul Kushwah
Rahul@deepspatial.ai

SOURCE: DeepSpatial Inc.

View source version on accesswire.com:
https://www.accesswire.com/814199/deepspatial-announces-government-contract-for-its-ai-driven-education-platform

FAQ

What is the recent contract win announced by Deepspatial in India?

Deepspatial announced a $200,000 contract win for its AI-driven education platform in one of the states in India, potentially leading to a long-term collaboration.

How did Deepspatial secure the recent contract win in India?

Deepspatial secured the contract through a collaborative bid with a reputable technology integrator, showcasing the platform's potential to reshape pedagogical approaches and improve learning outcomes.

What is the innovative approach of Deepspatial's AI-driven education platform?

The platform introduces novel multidisciplinary concepts in school education, notably integrating practical applications of Item Response Theory (IRT), empowering educators to personalize learning experiences.

Who commented on the recent contract win and what was expressed?

Dr. Rahul Kushwah, CEO of Deepspatial, expressed commitment to leveraging their expertise and technology to foster inclusive, data-driven educational models.

What is the potential negative aspect mentioned in the PR?

The company will be issuing 270,000 and 150,000 common shares to two consultants for the services provided.