Benzinga | Sep 30, 2021 09:37AM EDT

Rekor's Waycare Partners With Toyota Mobility Foundation For AI Traffic Management In Bangkok

* AI technology company Rekor Systems Inc (NASDAQ:REKR) subsidiary Waycare Technologies collaborated with the Toyota Mobility Foundation (NYSE:TM) to reduce traffic congestion and incidents in Bangkok, Thailand.

* The program aims to ease traffic congestion, significantly reduce traffic fatalities, decrease vehicle emissions, provide economic savings and improve quality of life. Around 20,000 people lose their lives in traffic incidents each year in Thailand.

* Waycare deployed its AI technology to analyze and predict traffic conditions using existing digital traffic management databases.

* The deployment, which will likely run for a year, targets Thailand's oldest and busiest road-Rama IV Road, in Bangkok.

* Price Action: REKR shares traded higher by 1.09% at $11.09 in the market session on the last check Thursday.