Wrap Technologies, Inc Unveils Cutting-Edge AI Functionality for Wrap Intrensic Body-Worn Camera Solution

TEMPE, Ariz., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or the “Company”), a global leader in innovative public safety technologies and services, today announced the release of new groundbreaking Artificial Intelligence (AI) functionalities for their Wrap Intrensic Body-Worn Camera (BWC) Solution and Digital Evidence Management System (DEMS) platform. Additional features will launch throughout the first half of 2024. These significant advancements reinforce Wrap Technologies' commitment to providing state-of-the-art tools for law enforcement professionals that enhance transparency, efficiency, safety, and accountability.

The new features focus on leveraging AI to streamline and elevate the video and evidence management capabilities of the Wrap Intrensic BWC Solution. These key AI functionalities include AI Video Redaction, Automated Transcription of Voice-Captured Video, AI-Assisted Contextual Content Search, and AI Video Content Review.

Artificial Intelligence Video Redaction:

This feature is designed to enhance privacy and compliance. This functionality allows users to automatically identify and redact sensitive information within recorded video footage. With this advanced capability, law enforcement agencies can protect the privacy of individuals and adhere to regulatory requirements, ensuring a responsible and ethical use of video data.

Automated Transcription of Voice-Captured Video:

This powerful AI-driven transcription feature automatically converts voice-captured video content into accurate, searchable text. This capability saves valuable time for law enforcement personnel and enhances the accessibility and analysis of recorded interactions. By providing a detailed and searchable transcript of audio content, the Wrap Intrensic BWC Solution ensures that critical information is easily accessible.

Artificial Intelligence-Assisted Contextual Content Search:

The Wrap Intrensic BWC Solution's new AI-Assisted Contextual Content Search feature empowers users to pinpoint specific incidents and interactions. Through advanced AI algorithms, the solution identifies and tags relevant contextual information, enabling law enforcement agencies to locate specific events within vast video databases. This capability enhances investigative processes, accelerates information retrieval, and supports more effective decision-making.

Artificial Intelligence Video Content Review:

By leveraging artificial intelligence, Video Content Review is a cutting-edge feature that automates the analysis of recorded video footage. This functionality identifies patterns and critical events within the video content, providing valuable insights to law enforcement agencies, including sentiment analysis and scoring that is crucial to de-escalation while policing. The Wrap Intrensic Body-Worn Camera Solution optimizes resource allocation and allows law enforcement professionals to focus on strategic decision-making by automating the review process.

"These new AI functionalities represent a significant leap forward in the capabilities of our Wrap Intrensic BWC Solution and secures our position as a leading innovator in the DEMS industry," said Kevin Mullins, CEO at Wrap Technologies Inc. "We believe that harnessing the power of AI will not only streamline the workflows of law enforcement agencies and improve efficiency but also contribute to greater transparency and accountability in policing."

For more information about Wrap Technologies, please visit wrap.com.

About Wrap  

Wrap Technologies, Inc. (Nasdaq: WRAP) is a leading global provider of advanced public safety solutions, integrating ultramodern technology, cutting-edge tools, and comprehensive services to address the complex, modern day challenges facing public safety organizations around the world. Guided by a no-harm principle, Wrap is dedicated to developing groundbreaking solutions that empower public safety agencies to safeguard the communities they serve in a manner that fosters stronger relationships. Driving safer outcomes, empowering public safety and communities to move forward together. 

Wrap's BolaWrap^® solution encompasses an innovative and patented hand-held remote restraint device, strategically engineered with Wrap’s no-harm guiding principle to proactively deter escalation by deploying a Kevlar^® tether that safely restrains individuals from a distance. Combined with BolaWrap^® training, certified by the esteemed International Association of Directors of Law Enforcement Standards and Training (IADLEST), Wrap enables officers from over 900 agencies across the US and 60 countries around the world, with the expertise to effectively use BolaWrap^® as an early intervention measure, mitigating potential risks and injuries, averting tragic outcomes.  Saving lives with each wrap. 

Wrap Reality™, the Company’s advanced virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform equips first responders with the discipline and practice to prevent escalation, de-escalate conflicts, and apply appropriate tactical use-of-force measures to better perform in the field. By offering a growing range of real-life scenarios, Wrap Reality™ addresses the dynamic nature of modern law enforcement situations for positive public safety outcomes. Building safer communities one decision at a time. 

Wrap Intrensic is a comprehensive, secure and efficient body worn camera and evidence collection and management solution designed with innovative technology to quickly capture, safely handle, securely store, and seamlessly track evidence, all while maintaining full transparency throughout the process. With meticulous consolidation and professional management of evidence, confidence in law enforcement and the justice system soars, fostering trust and reliability in court outcomes. Intrensic’s efficient system streamlines the entire process seamlessly, empowering all public safety providers to focus on what matters. Expediting justice with integrity. 
 
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Trademark Information 
Wrap, the Wrap logo, BolaWrap^®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad.  All other trade names used herein are either trademarks or registered trademarks of the respective holders. 

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement 
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: statements regarding the Company’s overall business; total addressable market; and, expectations regarding future sales and expenses. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company’s ability to successful implement training programs for the use of its products; the Company’s ability to manufacture and produce product for its customers; the Company’s ability to develop sales for its new product solution; the acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solution; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the US; the ability to obtain patents and defend IP against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Wrap’s headquarters are in Tempe, Arizona.
For more information, please visit wrap.com.

Investor Relations Contact:
800.583.2652
ir@wrap.com

Media Relations Contact:
Leigh Anne Arnold
5W Public Relations
wrap@5wpr.com