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VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA), a technology company with a current market capitalization of $134.2 million and annual revenue of $1.74 million, announced Tuesday the formation of Zena AI, Inc., a new AI development center within its ZenaDrone US subsidiary that will focus on building artificial intelligence software solutions for the US Department of Defense and Homeland Security agencies.
The new division will develop autonomous drone systems and enhance ZenaDrone’s inspection, surveillance, and reconnaissance platforms while expanding its team of American AI software and engineering specialists.
According to the company’s press release statement, the initiative comes in response to the White House’s AI Action Plan and related Executive Orders released on July 23, which aim to accelerate American-made AI systems across federal and defense sectors.
"This AI initiative will fast-track ZenaDrone’s R&D development and path to revenue while supporting domestic AI infrastructure development," said Shaun Passley, ZenaTech CEO, in the announcement.
ZenaTech specializes in AI drones, Drone as a Service, enterprise SaaS, and quantum computing solutions. Its current drone products include the ZenaDrone 1000 used for crop management and defense cargo applications, the IQ Nano indoor drone for inventory management, and the IQ Square outdoor drone designed for land surveys and inspections.
The White House’s recent AI Action Plan outlines priorities in innovation, infrastructure, and international AI exports, while mandating ideologically neutral AI in federal use and promoting global deployment of US AI technologies.
ZenaTech operates through offices in North America, Europe, Taiwan, and UAE, and is listed on Nasdaq, Frankfurt Stock Exchange, and Mexican Stock Exchange. The stock has shown strong returns over the last three months, though InvestingPro analysis indicates the stock is currently trading above its Fair Value. Discover comprehensive valuation metrics and financial health scores with an InvestingPro subscription.
In other recent news, ZenaTech Inc. has been actively engaging in several strategic initiatives. The company announced that its subsidiary, ZenaDrone, has formed a strategic partnership with Eagle Point Funding to pursue U.S. defense contracts. This collaboration is expected to enhance ZenaDrone’s ability to identify and prepare competitive proposals for defense and government agencies. Additionally, ZenaDrone has submitted its IQ Square drone for Green UAS certification, a step toward inclusion on pre-approved procurement lists for the U.S. Department of Defense.
In a move to bolster its manufacturing capabilities, ZenaTech plans to triple the size of its Phoenix, Arizona facility, driven by favorable U.S. policy changes that facilitate domestic drone production. Furthermore, ZenaTech reported a breakthrough in its quantum computing prototype, which enhances the capabilities of its AI drones. This development involves a framework for rapid analysis and processing of large datasets, tested with weather forecasting algorithms. These recent developments underscore ZenaTech’s commitment to expanding its technological and manufacturing footprint.
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