YOKNEAM ILLIT, ISRAEL, June 09, 2023 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or the “Company”), a technology growth company specializing in AI-powered touchless sensing wearables, today announced a breakthrough in sensing technology, unveiling an innovative solution that incorporates adaptable artificial intelligence (AI), noise-resistant features, and precise gesture learning into the Company’s products. This efficient algorithm can decipher and respond to natural hand movements and gestures personally.
An effective wearable sensor-based AI system is one that can adapt to individual users and excel in low signal-to-noise ratio (SNR) environments. In line with this vision, Wearable Devices has developed custom recurrent neural networks capable of performing sensor fusion and fast adaptation through few-shot learning. The neural network's memory structure and parameter space have been meticulously tailored to align with the mechanics governing natural hand movements. This cutting-edge technology empowers users to effortlessly perform both short gestures, such as tapping, and long movements, such as drag and drop, with remarkable precision and efficiency.
“This remarkable achievement solidifies our position as a frontrunner in wearable technology innovation,” said Asher Dahan, Chief Executive Officer of Wearable Devices, “By combining adaptable AI, functionality in low SNR scenarios, and precise gesture learning, Wearable Devices is revolutionizing the way individuals interact with digital environments. With an unwavering commitment to enhancing user experiences, our Company is shaping the future of wearable technology and paving the way for groundbreaking advancements across various industries.”
With this breakthrough development, Wearable Devices’ AI solutions revolve around low-resource and highly efficient memory structures. These structures effectively classify and regress natural movements, based on wearable sensors. While the technology excels in low-power wearable control systems, the datasets generated by these wearable sensors hold immense value and potential for designing advanced systems. The applications extend far beyond the realm of wearable technology, encompassing possible implementations in healthcare and advanced augmented reality (AR) control.
About Wearable Devices Ltd.
Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, the Mudra Inspire, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s common stock trades on the Nasdaq market under the symbol “WLDS”. For more information, please visit https://www.wearabledevices.co.il/.
Contact Wearable Devices: https://www.wearabledevices.co.il/contact
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss our position as a frontrunner in wearable technology innovation, revolutionizing the way individuals interact with digital environments, shaping the future of wearable technology and paving the way for groundbreaking advancements across various industries, and that our application encompasses possible implementations in healthcare and advanced AR control. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our use of proceeds from the offering; the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2022, filed on March 22, 2023 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor Relations Contact
John Nesbett/Jennifer Belodeau
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com
