Printer Friendly

NESTOR SIGNS WITH ARPA FOR NEW Ni1000 APPLICATIONS

 PROVIDENCE, R.I., Sept. 27 /PRNewswire/ -- NESTOR, INC. (NASDAQ: NEST) today announced that a new agreement has been signed with the Advanced Research Projects Agency (ARPA) to construct applications based on the Ni1000 neural-network chip, recently developed by NESTOR and Intel Corporation under a similar Agency arrangement. The project is expected to create commercial products that will greatly accelerate PC processing of data and will be a major step toward achieving the goal of massively parallel processing. Commercial applications of this project could have significant impact in:
 -- superior character recognition in processing medical and insurance claims, faxed documents, and high-speed postal sorting.
 -- identifying credit-card fraud, making mortgage assessments, analysis of stock market data, and other forms of financial-risk assessment.
 -- inspection for product quality and machine vision.
 -- real time monitoring and diagnosing faults in mechanical tools and systems, automobile engines, and industrial machinery.
 Dr. David Fox, president and chief executive officer of NESTOR, commented, "This new contract with ARPA is yet another validation of the superiority of our technology. With it, this company takes a giant step forward in transferring our technology into products that will bring new capabilities to computers and revolutionize the way people interact with them. Our currently available commercial products are now an integral part of other manufacturer's applications, and are being used in the workplace to dramatically reduce the costs of data entry and substantially improve the quality of decision-making.
 "With Nestor's technology embedded in the Ni1000 from Intel, your computer will be able to read your handwriting and faxed documents, learn your preferences and intelligently extract meaning from the vast quantities of data that we all have to sort through every day. The 500-times faster speed provided by the special architecture of the Ni1000 enables these tasks to be done in real time and with far greater accuracy than has ever been possible before. In the future, using NESTOR technology, you will instruct your computers -- not program them -- and they will learn."
 All NESTOR products are based on the company's proprietary neural- network technology which operates as adaptive information-processing systems that "learn" from experience. All NESTOR products can be taught to recognize complex configurations of data, and to interpret input patterns.
 -0- 9/27/93
 /CONTACT: Dr. David Fox, 401-331-9640, Michael Glier, 401-331-9640, both of NESTOR, or Burton Arkin of Arkin Associates, 212-599-2369/
 (NEST)


CO: NESTOR, INC. ST: Rhode Island IN: CPR SU:

TS -- NY021 -- 5802 09/27/93 09:03 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 27, 1993
Words:407
Previous Article:MARIGA EXPANDS OPERATIONS; TO CARRY DATA AND FAX TRAFFIC BETWEEN RUSSIA AND UNITED STATES
Next Article:CODA ENERGY UNDERWRITERS EXERCISE OPTION
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters