- Minerva Intelligence (TSXV:MVAI) completes AI tech development
- Launches TERRA Mining AI and GAIA Natural Hazard Mapping suites
- CEO Scott Tillman said applications were “ready for market”
- No movement in MVAI shares, which traded at C$0.12 per share
Artificial Intelligence company Minerva Intelligence (TSXV:MVAI) has informed the market it has completed the development of its AI reasoning technology.
The company plans to launch two commercial products – which uses the technology – for use in the mining and risk-assessment industries.
TERRA Mining AI was developed to improve mining exploration and operations while the GAIA Natural Hazard Mapping suites will be used to gauge the susceptibility of natural hazards over large areas.
Company CEO Scott Tillman said the AI suites were ‘ready to go’ and expressed confidence in their application.
“2019 was focused on ensuring that our product suite was ready for market and that our team would be able to serve the needs of prospective clients,” he said.
“We have accomplished this and have launched into the commercialisation phase of our business (and) are looking forward to engaging with a number of customers and validate to the market the commercial applications of our unique technology.”
TERRA was unveiled last month at the Association for Mineral Exploration Roundup convention in Vancouver last month and is comprised of four products – SolACE, which prepares data for cognitive AI and machine learning applications; Target, a cognitive AI application for surface exploration data evaluation; DRIVER, a cognitive application for evaluating mine and exploration drilling data; and LEO, a document management system optimised for the interoperability with AI systems.
GAIA uses the company’s cognitive AI system to mimic human reasoning about natural hazards and provides a user-friendly assessment to non-experts to understand the results.
The company said this particular application is ‘market-ready’ and hopes to debut flood and wildfire-based applications later in the year, as well as providing risk-management applications to the insurance industry.
Minerva Intelligence also said it is in the process of filing three patents to protecting the company’s intellectual property, as well as the hiring of Virtus Advisory Group to market the company to prospective shareholders.
There was no movement in Minerva Intelligence shares, which were trading at C$0.12 per share.