Artificial Intelligence continues to find itself at the forefront of conversations regarding technology, and rightfully so as the powerful tech has the potential to drastically alter daily life and rapidly expand the future of technology. Whether it be applied to our personal lives at home or through cost saving applications at work, the opportunities are endless when machines are given the ability to simulate human thinking. Enterprise AI appear to have a more meaningful impact in the near term, as poor software quality and coding error continues to plague efficiencies and profits across numerous sectors using technology to support daily functions.
The Problem
Although the tech behind AI seems futuristic and cutting-edge, some of the largest companies in the world have begun exploring ideologies of embracing a simpler AI approach to eradicate costly coding errors which ultimately lead to worldwide outages of their applications.
Facebook previously announced that the root cause of a six-hour outage across all platforms at the beginning of October 2021 was associated to a bug within its auditing tool. This tool was designed to audit commands to prevent mistakes, however the bug prevented the command from being stopped, knocking out tools that engineers would typically use to review and repair outages, making the task increasingly difficult and costly.
Fastly suffered a similar experience in June 2021 when a bug left unidentified during testing, was included in a software update that had been rolled out the month prior and was eventually triggered by a valid customer configuration change. Although the outage was resolved in just under an hour, internet users found themselves stranded when attempting to access popular websites such as The New York Times, the Guardian, Twitch and Reddit.
Simple coding errors such as these result in billions of lost revenues for companies across the globe, and with this issue in mind, one company’s mission is to improve developer velocity by using AI to monitor application health and individual performance, make root cause analysis easier and faster, and help developers achieve elevated levels of productivity before costly errors become mainstream news.
The Solution
Railtown AI Technologies Inc. (RAIL.CSE) | CAD $0.33 | $25.38 M | has developed a software-as-a-service artificial intelligence solution that helps software development teams detect, analyze and fix errors quickly in their development projects (the “Platform”). The platform allows for real-time exception monitoring and alerting which permits developers, team managers and executives to quickly locate, understand and correct errors in their software development projects and their root causes, thereby preventing system and application downtimes. *
The benefit of Railtown’s AI technology lies in the elimination of costly downtime, where critical coding errors can take multiple developers upwards of 8+ hours to correct. Bad code and technical debt account for a roughly 42% productivity loss, which can be summarized as roughly 17.3 hours spent on bad code and debugging out of a 41.1 average hours per developer work week. This translates into an astonishing $85 billion GDP loss from lost developer time spent repairing code rather than creating it.
As of 2020, there was an estimated $2.1 trillion valuation associated to poor software quality in the US, as well as $1.3 trillion in technical debt caused by poor software reported by CISQ. By instilling Railtown AI platform, users can catch and categorize errors in every aspect of its development pipeline and eliminate costly downtime, poor software creation and potential technical debt. Not only does the Railtown dashboard track the health of the application, but it also tracks individual developer performance and efficiency gains across the entire development team.
Railtown currently offers three tiers of access to its platform. The first “Individual Developer” tier is intended for use by solo developers, students, and teachers who can access the platform for free. In speaking with the company, the intent is to leave the single user access as a free to use service forever. When more than one user requires access under the same license, the “Teams” tier offers access for multiple users across multiple teams and projects in one place, and special offers are currently available for early adopters. Finally, the “Enterprise” tier is intended to offer customized solutions that offer better pricing and dedicated support specific to a large corporation’s individual needs.
Railtown’s strategy is to drive user database first and grow a following through its free individual and discounted team memberships to showcase the strength of its AI tech. As the use case grows with these individuals and corporations, Railtown will pursue larger contracts through OEM partners that already have contracts with major corporations, which of course is when the lucrative contracts become the discussion.
One can speculate that the massive amounts of potential savings made available to its corporate clients through its advanced AI platform makes Railtown irresistible to retail and institutional investors alike, with unfathomable upside potential from current levels as it marches towards billion-dollar status. This may seem unachievable at first glance, but when scanning the market for similar competitors, it becomes evidently clear that this notion might not be so farfetched.
Comparable Titans in the Market
Datadog, Inc. (DDOG.NASDAQ) | USD $178.11 | $55.57 B | provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of customers technology stack. Its platform also provides user experience and network performance monitoring, incident management, and various shared features, such as sophisticated dashboards, advanced analytics, collaboration tools, and alerting capabilities. **
New Relic (NEWR.NYSE) | USD $109.96 | $7.19 B | New Relic, Inc., a software-as-a-service company, provides platform for engineers to plan, build, deploy, and operate software worldwide. It offers a suite of products on its open and extensible cloud-based platform, New Relic One Platform, which enables users to collect, store, and analyze telemetry data flowing through and about their software. The company also provides prebuilt dashboards and visualizations, as well as the ability to search across data types, create customized dashboards, and build applications that can be shared and customized by other users. ***
Sumo Logic (SUMO.NASDAQ) | USD $13.56 | $1.52 B | Sumo Logic, Inc. provides cloud-native software-as-a-service platform that enables organizations to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing worldwide. Its platform enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights. The company offers a suite of solutions to address areas, such as operational intelligence, security intelligence, business intelligence, and global intelligence. ****
Investing in the Future of AI
Harnessing the power of AI to make humans better at what they do, specifically regarding the creation and maintenance of meaningful technology that governs day-to-day operations appears to play a large part of future tech, and investors are beginning to take notice. AI startups received roughly $17.9 billion in initial investment globally in the third quarter of 2021 and has increased every quarter since the beginning of 2020. This appears largely in part due to increased enterprise demand for better data infrastructure to extract significant value from its technologies and eliminate costly downtime. As mentioned before, the simplest coding error can bring industry titans to its knees and send its reliant consumers into a frenzy, a solution that Railtown has evidently resolved.
Having been recently approved for listing on the CSE, Railtown raised gross proceeds of $2,227,480.00 through its prospectus offering of 5,568,700 common shares at a price of $0.40 per share and commenced trading on November 30th, 2021. Shortly afterwards, the company announced its acceptance into both the Microsoft Partner Network and The Microsoft for Startups Program. Through this acceptance, Railtown has gained exposure for its exceptional AI problem solving and productivity boosting application to over 90,000 Microsoft Partners that also happen to partake in a curated mentorship community that engages companies with a mix of diverse business and technical experts, helping companies reach new and exciting milestones.
Although the company has only just begun to venture into capital markets, the partnership with Microsoft presents shareholders with prodigious portfolio growth opportunity as the exposure begins to return dividends. As the calendar year rolls over, Railtown and its team of experienced, tech savvy entrepreneurs appear relentlessly determined to create generational wealth for both its shareholders and its clients as the value within its unrivaled AI technology is adopted by enterprises looking to spend billions to save trillions.
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