There were a fair number of shares that had managed to clock notable gains yesterday and one of those was the GBT Technologies Inc (OTCMKTS:GTCH) stock. The stock had come into considerable focus yesterday following a key development and had ended up with gains of as much as 7% for the day.
Trading Data
On Thursday, GTCH stock moved up 6.67% to $0.0016 with more than 1.95 million shares, compared to its average volume of 13.83 million shares. The stock moved within a range of $0.0015 – 0.0017 after opening trade at $0.0017.
GBT is seeking to develop application-specific AI models for its Motion Detection Wireless technology
At this point, the company is working on the development of a motion detection patented technology, which has been code-named ‘Apollo’ internally. Yesterday, GBT Technologies announced that it was in the process of updating the Artificial Intelligence models in place with new data at each nanosecond so as to further improve it.
Due to the feeding of new data, the AI is going to have a better understanding of its surroundings, and hence, it will be able to respond quickly and reliably to changes. The company announced yesterday that it was conducting research work related to the particular AI models that are going to be relevant to the IoT or Internet of Things space.
The models are going to help in identifying any change that might take place in an IoT setting. It is quite understandable that such ambitious plans from GBT Technologies led to significant optimism among investors.
Key Quote
“We believe our Apollo technology can be an effective system for a wide range of applications. We believe one of the major domains that Apollo can be adapted into, is the IoT arena. An intelligent autonomous vehicle computer vision implementation would be able to understand a sudden scenery change from multiple perspectives at the same time. Apollo is designed to analyze the data using multidisciplinary methods to understand the problem, reason, and execute an appropriate response. We are now researching to develop AI models to work particularly designed within the IoT domain. Since Apollo’s AI is equipped with high resolution responsive practices, rapid scan updates, and integrated real-time analysis, it could be a great fit for IoT applications in many fields. We believe we are developing Apollo to serve as an accurate, quick response where computer vision is needed. ” stated Danny Rittman, the Company’s CTO.
Technical Data
GTCH stock is trading below the 20-Day and 50-Day Moving averages of $0.0018 and $0.0022 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1098. The company has a total market capitalization of $1.56 million.
