SHANGHAI - Xiao-I Corporation (NASDAQ: AIXI), a prominent AI firm, has secured a significant contract to provide its Smart Outbound Call product to an international engineering consulting firm within a leading energy conglomerate. The consulting firm, which manages the group's bidding, cost estimation, and engineering consulting services, will utilize Xiao-I's technology to streamline the invitation process of tens of thousands of experts for various meetings annually.
The AI dialing platform, powered by the Hua Zang Large Language Model ("Hua Zang LLM"), is designed to enhance efficiency and reduce the cost and time associated with expert engagement. Xiao-I's solution includes advanced features such as Natural Language Understanding, Speech Recognition and Synthesis, Dialogue Management, and Machine Learning technology, allowing the replacement of human agents with chatbots for outbound call tasks.
This partnership is set to transform the operational processes within the energy sector, highlighting Xiao-I's commitment to innovation and the delivery of effective AI solutions. The Smart Outbound Call solution has already seen application in various sectors, including government, finance, and enterprises, indicating its adaptability and effectiveness.
Xiao-I Corporation, established in 2001, is recognized as a leader in cognitive intelligence in China, offering a range of AI-based business solutions and services. Its proprietary technologies have been widely applied to numerous business cases, supporting the digital and intelligent transformation of industries.
This press release contains forward-looking statements regarding the company's strategies and future performance, which involve risks and uncertainties. Investors are advised not to place undue reliance on these forward-looking statements, which are not guarantees of future performance. The company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F and other reports, provide more detailed information on the risks involved.
This news article is based on a press release statement from Xiao-I Corporation.
In other recent news, Xiao-I Corporation has been making strategic moves to expand its AI capabilities. The company's recent partnership with a leading Middle East AI firm aims to enhance enterprise solutions in the UAE, marking a significant step in Xiao-I's global expansion strategy. This collaboration will merge both companies' strengths to meet the rising demand for AI solutions.
Xiao-I has also initiated several projects leveraging its AI technology. A notable one is the deployment of an AI-driven Live Chat system to enhance after-sales service for a major automobile industry client. Simultaneously, the company has formed strategic partnerships with a leading Chinese bank to improve its knowledge management systems and implement an Intelligent Customer Service Training System.
Furthermore, Xiao-I has established an alliance with a Special Administrative Region entity to advance smart city initiatives using AI and chatbot technologies. This partnership is set to enhance urban living by integrating AI services into customer service operations. These are among the recent developments in Xiao-I's ongoing commitment to leveraging its AI technologies to support the digital transformation and intelligent upgrading of industries.
InvestingPro Insights
As Xiao-I Corporation (NASDAQ: AIXI) continues to expand its AI technology offerings with its latest partnership in the energy sector, financial metrics and market performance provide additional context for investors. With a market capitalization of 63.49 million USD, Xiao-I's commitment to innovation is reflected in its impressive gross profit margins of 66.63% for the last twelve months as of Q1 2023. Nevertheless, the company faces significant financial challenges, including a substantial debt burden and a negative P/E ratio of -2.4, indicating it was not profitable during this period.
InvestingPro Tips suggest that Xiao-I's financial position may be precarious, as the company is quickly burning through cash with short-term obligations exceeding its liquid assets. Moreover, the stock price has experienced a substantial decline over various timeframes, with a 1-year price total return of -84.46% as of mid-2023. On the brighter side, analysts are predicting that the company will become profitable this year, which could potentially mark a turning point for its financial health.
For investors looking for a more in-depth analysis, there are 13 additional InvestingPro Tips available for Xiao-I Corporation at https://www.investing.com/pro/AIXI. To access these valuable insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.