SPYR Technologies’ Applied Magix Exploring AI Applications for IoT Systems

Rhea-AI Summary

SPYR Inc. (OTCQB: SPYR) announces its subsidiary, Applied Magix, is exploring AI applications for smart home and connected car products. CEO Dr. Harald Zink emphasizes that integrating AI can enhance security and efficiency through smart sensors. Tim Matula, CEO of SPYR Technologies, expresses excitement about AI's potential to improve everyday life. While product details remain under wraps, the company aims to innovate within the rapidly growing multibillion-dollar IoT market. Investors are encouraged to monitor SPYR's updates for future product developments.

Positive

• Exploration of AI applications could enhance product offerings in the smart home and connected car markets.
• Focus on leveraging AI to improve security and efficiency through smart sensors.

Negative

• None.

THE WOODLANDS, Texas, April 12, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- SPYR Inc. (OTCQB: SPYR), dba SPYR Technologies, a technology company whose subsidiary, Applied Magix, Inc., develops and resells Apple^® ecosystem compatible products in the growing multibillion-dollar smart home and connected car markets, today announces that Applied Magix is exploring AI applications for inclusion into its products.

AI, also known as artificial intelligence, is the branch of computer science that aims to answer the question, “Can machines think?” – it is the endeavor to replicate or simulate human intelligence in machines. While the popular view of AI, nurtured by Hollywood and popular media, portrays robots and supercomputers’ ambitions to take over the world, the reality within the realm of IoT appears far more banal on the surface. It involves the use of AI decision-making systems to regulate and “decide” on actions within our environment.

“As part of our Secret Lab initiatives, AI frequently comes to the forefront of product development and how to make smart hardware even smarter,” said Applied Magix CEO Dr. Harald Zink. “For example, various sensors track a number of conditions around your house, but when processed by an AI system, analysis of those conditions can be used to trigger actions that increase security or save you money in the long run.”

“AI is a fascinating field that is fast growing and shows a tremendous amount of promise to make our lives easier in an enriching way,” states Tim Matula, chief executive officer of SPYR Technologies. “It’s exciting to get updates on what Applied Magix’s Secret Lab is exploring and working on and will hopefully be finding its way into our homes at some point in the future.”

Applied Magix doesn’t discuss future products, even really exciting ones, but keep checking SPYR and Applied Magix’s websites and press releases for news about developments and products.

Learn more about Applied Magix by visiting https://AppliedMagix.com.

Investors can learn more about SPYR at https://ir.spyr.com/.

About SPYR Technologies

SPYR Technologies (SPYR) is a technology company which, through its subsidiary Applied Magix Inc., develops and resells Apple^® ecosystem compatible products with an emphasis on the growing multibillion-dollar IoT smart home and connected car markets. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (AI) and smart technology products.

About Applied Magix

Applied Magix, Inc. develops and resells Apple ecosystem compatible products in the growing multibillion-dollar IoT smart home and connected car markets.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

Investor Contact:
(303) 991-8000
ir@spyr.com

Company Name: SPYR Inc, dba SPYR Technologies
Address: 6700 Woodlands Parkway, Ste 230 #331
The Woodlands, TX 77382
Email Address: ir@spyr.com
Public Relations Contact: ir@spyr.com
Email address: ir@spyr.com

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FAQ

What is the latest news from SPYR regarding AI applications?

SPYR's subsidiary, Applied Magix, is exploring AI applications to enhance smart home and connected car products.

How is SPYR planning to integrate AI into its products?

SPYR aims to integrate AI decision-making systems to improve security and efficiency through smart sensors.

What markets is SPYR focusing on with its AI development?

SPYR is focusing on the smart home and connected car markets as part of its AI development efforts.

Who is leading the AI initiatives at SPYR?

Dr. Harald Zink, CEO of Applied Magix, is leading the AI initiatives for product development.

What should investors watch for from SPYR in the future?

Investors should monitor SPYR's updates for announcements regarding future AI product developments.