Two-year contract with an option for an additional 3 years with City of Miraflores

Visium Technologies, Inc. (OTCBB:VISM)

FAIRFAX, VA, USA, March 8, 2024 /EINPresswire.com/ -- Visium Technologies, Inc, ("Visium" or the "Company") (OTCMKTS:VISM) a global cybersecurity, analytics, predictive technologies, and IT infrastructure professional services company, announced today that they were awarded a multi-million-dollar service contract with its technology partner IREX AI, for the 1st Smart City in the country of Peru to deliver Ethical Layered Intelligence (ELITM). Through a comprehensive 2-year contract, which includes an option for a 3-year extension, the government of the City of Miraflores, a district of the Lima Province, will integrate state-of-the-art SearchveillanceTM technology into its existing CCTV security camera network.

ELITM is the premier AI video-based solution that empowers city governments, public safety organizations, transportation authorities, and service providers with an Ethical AI and Big Data platform. Leveraging advanced artificial intelligence algorithms, this innovative proprietary technology developed by IREX and Visium will empower law enforcement agencies with unparalleled capabilities to monitor, analyze, and respond to incidents in real-time.

Public safety organizations worldwide use cameras to monitor activity and support first responders, and benefit from the artificial intelligence capabilities needed to monitor massive amounts of video data. The integration of contextual data in a layered approach adds an extra dimension to cybersecurity and public safety strategies, allowing for more informed decision-making and proactive threat detection. ELI is a cutting-edge technology platform that combines artificial intelligence capabilities with the layering of contextual data, applied to video feeds. This project is pivotal for the entire nation of Peru as Miraflores has become the framework for Smart City development. This framework was presented in recent town hall meetings to all of the mayors and community leaders across the nation, including all of the major cities, municipalities, schools, and local businesses.

Key features of the AI video searchveillance technology include:

• Seamless Integration: The platform seamlessly integrates with the city's existing CCTV camera infrastructure, optimizing operational efficiency and resource utilization.
• Enhanced Public Safety: By harnessing the power of AI, Visium’s proprietary technology enables automated monitoring of live video feeds, allowing law enforcement to swiftly detect and respond to potential threats or criminal activities.
• Smart Search Capabilities: Advanced search algorithms facilitate rapid retrieval of critical video footage, significantly reducing investigation times and enhancing overall situational awareness.
• Smart City Infrastructure: The implementation of this technology is a pivotal step towards establishing Miraflores as a “smart” city, fostering innovation and sustainable urban development.
• Missing Children Initiative: The AI video searchveillance technology will play a crucial role in the city's efforts to locate missing children by enabling efficient analysis of surveillance footage and identification of relevant individuals.

Calvin Yadav, CEO of IREX, said, “There is no denying that public safety is being driven by digital transformation and investment in smart cities. We are excited to integrate IREX’s SearchveillanceTM technology with Visium’s groundbreaking TruContextTM technology platform. Integrating TruContextTM with the powerful Ethical AI engine of IREX creates the world’s first Real-Time intelligence whiteboard with video & image validation technology, ELITM (Ethical Layered Intelligence).“

Yadav added, “ELITM will change the game by shaving months off of investigation(s) for Federal & local law enforcement or Military reconnaissance missions. Working with Visium and the enhancements that their TruContextTM technology provides to our Ethical Artificial Intelligence platform helps our customers to make critical security decisions in real-time. The implementation of the AI video searchveillance technology underscores Miraflores unwavering dedication to proactive crime prevention and public safety initiatives. With this innovative solution in place, the city is poised to set new benchmarks in law enforcement effectiveness and community security.”

Mark Lucky, CEO of Visium, commented, “We are excited for this project as it opens up a demonstrable validation of the many uses of our TruContextTM technology. With the rapid growth of CCTV installs in municipalities around the world, the need to rapidly identify public safety threats in real time can develop into a significant contributor to revenue and income growth.”

Lucky concluded, “We look forward to working with IREX AI on this project and yet to be announced future projects.”


About IREX AI, Inc.
IREX AI, Inc. is a provider of AI-powered video analytics operating in over 30 countries worldwide. IREX’s mission is to mold cities of the future: safe, comfortable, and sustainable. The IREX Ethical AI and Big Data platform focuses on public safety and connects cameras and sensors to a secure private cloud, analyzing data in real-time and providing vital, proactive opportunities to prevent security and safety incidents. IREX allows cities to adapt to ever-changing threats, using Ethical AI technology to combat 21st-century problems such as pandemics, overcrowding, missing children, mass shootings, rising crime rates, and much more.

For more information, please visit www.IREX.AI

About Visium Technologies, Inc.
Visium Technologies (OTC PINK:VISM) is a cyber security solutions provider that uses graph database technology to deliver an analytics-driven, risk-based approach to cybersecurity that provides context to data so that users can make intelligent decisions in real time. Built for the US Army Cyber Command by MITRE Corporation (CyGraph), and then further developed by Visium, our world class TruContextTM technology provides visualization, advanced cyber monitoring intelligence, data modeling, analytics, and automation to help reduce risk, simplify cyber security, and deliver better security outcomes. TruContextTM plugs the gaps left by other security tools.

For more information please visit www.visiumtechnologies.com

Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements that reflect management's current views with respect to future events and performance. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words "believe," "expect," "anticipate," "intend," "estimate," "project" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to, whether the reverse stock split will be beneficial to the Company and its shareholders, any inability to meet the NYSE American continued listing standards in the future for any reason, and those other factors described in our filings with the U.S. Securities and Exchange Commission. Any responsibility to update forward-looking statements is expressly disclaimed.

Mark Lucky
Visium Technologies, Inc.
+1 703-273-0383
info@visiumtechnologies.com

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