10:56:40 EDT Fri 12 Jul 2024
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VPN Technologies Inc
Symbol VPN
Shares Issued 10,138,920
Close 2023-02-06 C$ 0.08
Market Cap C$ 811,114
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VPN Technologies rolls out AI, ML business division

2023-02-06 12:32 ET - News Release

Mr. Paul Dickson reports


VPN Technologies Inc. has introduced a new business division of cutting-edge artificial intelligence (AI) and machine learning capabilities, complementing its existing suite of software development activities. This new business division of VPN will focus on AI-enhanced software development services, intelligent networking solutions and will further the company's ability to participate in this groundbreaking technology.

AI technology has been rapidly advancing in recent years and it is expected to have a significant impact on the global economy. By 2025, the global AI market is projected to reach $190-billion, with a compound annual growth rate of 42.2 per cent from 2020 to 2025. This new division will allow VPN Technologies to take advantage of this growth by providing an array of software solutions and services to its users and business partners.

Businesses now have an unprecedented opportunity to stay ahead of the competition by utilizing AI-powered software solutions. These high-performance tools will help streamline operations, freeing up resources for core competencies that can bring success in a highly competitive digital age. "Leveraging the power of neural networks and other machine learning techniques have proven themselves to be an integral part of our ongoing and future development," mentions Curtis Ingleton, chief technology officer of VPN Technologies Corp. "These innovations are absolutely crucial in growing networks, industry, commerce and more, to the betterment of the global community."

The company achieved great progress in advancing its core IoT (Internet of things) technologies related to its wholly owned subsidiary Greentech Hydrogen Innovations Corp. by utilizing AI and machine learning to collect, analyze and refine hydrogen market data to generate new, yet to be known datasets. "This exercise in AI development has inspired us to utilize the technology in every other business segment of VPN, and we are committed to further growth and innovation as we begin 2023," added Mr. Ingleton.

"AI has become an undeniable reality -- one which promises to revolutionize commerce practices at an unprecedented rate," stated Paul Dickson, president and chief executive officer of VPN Technologies. "With our sights set on mastering machine learning and artificial intelligence technology, we are eager to explore new possibilities that will expand our portfolio and we're proud to announce the formation of a new AI division within the company."

The development of AI has been driven by rapid advances in machine learning, big data and cloud computing, which have enabled organizations to extract greater value from data and automate tasks that were previously performed by humans. As a result, AI has become a key enabler for innovation and growth in many industries, including health care, finance, transportation and manufacturing.

Governments around the world have also recognized the importance of AI and have invested heavily in its development. In the United States, for example, the government has committed to investing over $2-billion (U.S.) in AI research and development through various initiatives, including the National Artificial Intelligence Research and Development Strategic Plan.

Investment in AI is also coming from the private sector, with large technology companies such as Amazon, Google and Microsoft leading the way. These companies are investing heavily in AI research and development, as well as acquiring AI start-ups, in order to gain a competitive advantage in the market.

As AI continues to mature and become more widely adopted, it is likely to have a significant impact on the global economy, creating new opportunities for growth and innovation, as well as presenting new challenges and ethical considerations.

VPN Technologies is determined to be a force within the artificial intelligence revolution, providing its customers with leading-edge solutions and a glimpse into an exciting new world of possibilities for business and everyday life. From finance to health care, transportation technology to manufacturing -- AI truly has no limits when it comes to potential applications and a new future driven by endless innovative capabilities.

About VPN Technologies Inc.

VPN Technologies is a provider of virtual private network (VPN) services to the retail market and SMEs (small- and medium-sized enterprises).

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