Gorilla Technology Group (GTG) has experienced a significant boost in its shares, with an increase of 13% to $2.58. This surge comes after GTG announced a strategic collaboration with British Telecom (BT) to develop advanced container identification and container damage detection technology.
Despite hitting a 52-week low of $1.65 on May 23, GTG has shown resilience in the face of challenges, maintaining an 80% decline over the past year.
The partnership between GTG and BT aims to leverage GTG’s expertise in video analytics and BT’s extensive network infrastructure. The collaboration is currently being deployed and tested at the Port of Tyne, located in northern England.
The joint effort focuses on creating an intelligent and automated solution that utilizes cutting-edge video analytics technologies, incorporating artificial intelligence and machine learning algorithms. These technologies will enable the analysis of video footage recorded at different stages of the container management process. The system aims to swiftly and accurately identify containers, monitor their movements, and quickly detect any signs of damage or tampering.
This collaboration showcases the commitment of both GTG and BT to innovation within the container management industry. By combining their complementary strengths, they are poised to revolutionize this sector with groundbreaking technological advancements.