The Rise of Intelligent Infrastructure : Rekor to Acquire Waycare
The Rise of Intelligent Infrastructure : Rekor to Acquire Waycare Several years ago, a few friends and I proposed an intelligent infrastructure system—feedback-based tolls—to optimize traffic flow and reduce harmful emissions.
The system sought to monitor the traffic flow through various toll booths and dynamically alter the cost based on real-time data.
Of course, the product was simply the brainchild of a few students, but it is a sign of the budding field of intelligent infrastructure.
Moreover, intelligent infrastructure represents technology that optimizes social, logistical, and environmental systems. Intelligent infrastructure primarily relies on artificial intelligence and machine learning. It was recently announced that Rekor Systems, an established company in this field, will acquire Waycare Technologies in a deal totaling $61 million.
While Rekor provides solutions to optimize governmental and commercial processes related to public safety and transportation, Waycare utilizes artificial intelligence and real-time data in accordance with governmental and legal agencies to develop safer roads.
Through this acquisition, Rekor aims to bolster its roadway intelligence systems. As a result Rekor will greatly benefit from Waycare’s AI platforms and client network. Moreover, Waycare has relationships with many governmental and legal entities. And Rekor is able to collect traffic data that will prove incredibly versatile in developing Rekor’s trademark product, Rekor One.
Rekor One is an intelligent system that builds a safe roadway network by interfacing with databases and utilizing innovative AI technology.
As a result, integrating Waycare’s AI platform into Rekor One will yield great synergies. Rekor will be able to both use their preexisting platforms and develop new applications in order to effectively streamline safety and traffic.
Waycare’s established network on the ground will also open new client markets to Rekor.
Thus, the acquisition of Waycare will greatly expand Rekor’s influence and position in the roadway intelligence sector.
In conclusion, the deal more broadly reflects the growing prominence of artificial intelligence in day-to-day operations. Lastly, as evident in the aforementioned toll system, there is an increasing appetite for intelligent infrastructure systems. Moreover, this is especially true considering their tremendous environmental and economic upsides.
With this acquisition, we may soon see Rekor Systems leading the charge.