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PALO ALTO, Calif., April 26, 2021 (GLOBE NEWSWIRE) -- Gatik, the market leader in automating on-road transportation networks for B2B middle-mile logistics, announced today that it has been named to the Forbes AI 50 list which highlights private companies using artificial intelligence in meaningful, business-oriented ways to create innovative services and solve complex technology problems.

Operating on fixed, repeatable routes is the most effective way to deploy autonomous vehicles safely and at scale, said Gautam Narang, Co-Founder, and CEO of Gatik. At Gatik, we take a radically divergent hybrid approach towards the system architecture, implementation & validation of our Autonomous Box Trucks. We decompose the massive, monolithic Deep Neural Networks into micro-models whose intended functionality is restricted to a very specific explainable task, and build rule-based fallback & validation systems around them. Forbes recognition of our solution validates the strength of this approach - were honored to be included on this prestigious list and be recognized as a technology innovator.

Forbes, in partnership with Sequoia Capital, evaluated hundreds of companies serving a range of industries to recognize 50 private, U.S.-based companies for their innovative use of artificial intelligence. Gatik was selected for its leadership in using AI and machine learning to establish the first autonomous Middle Mile logistics network in North America, based on factors including technology, business model, growth, customers, revenue history, and valuation.

Gatiks technology focuses on 3 technical pillars to maximize safety and efficiency for short-haul logistics: using exponentially less data for training and validation by overfitting the modular stack for known routes; using a learning-first but deterministic approach, through hyper-optimization of micro-models using rich priors from known routes; and ensuring redundancies at system and component level. Combined with the companys operational expertise, this commercial grade autonomous solution enables Gatiks customers to reduce costs, maintain capacity and keep delivery times short.

About Gatik

Gatik was founded in 2017 by veterans of the autonomous technology industry and has established offices in Palo Alto and Toronto. The company focuses on short-haul, B2B logistics for Fortune 500 retailers such as Walmart and Loblaw, and has established the first autonomous Middle Mile logistics network in North America. Gatik enables its customers to optimize their hub-and-spoke supply chain operations, enhance inventory pooling across multiple locations, reduce labor costs and meet an unprecedented demand for contactless delivery.

Media Contact

Richard SteinerT: 416-836-9185E: richard@gatik.ai

Allison MatthewsT: 952-836-9626E: allison@skyya.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b96fe7fe-dfb6-47f6-9864-0ef923320f7e

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Gatik Named to Forbes AI 50 List of Most Promising Artificial Intelligence Companies of 2021 - GlobeNewswire