SHANGHAI, Sept. 19,
2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ:
AIXI) ("Xiao-I" or the "Company"), a leading artificial
intelligence company, today announced the renewal of its contract
with Inner Mongolia Yili Industrial Group Co., Ltd. ("Yili") (A
Share:600887). This renewal continues a long-standing partnership
and marks an important shift, as Yili transitions its AI-driven
customer service platform to a subscription-based model, optimizing
service delivery and increasing operational efficiency. This
transition to a subscription model, known as Maas (Model as a
Service), represents a new business model that Xiao-I has been
actively promoting. It reflects a broader trend in the software and
AI industries, offering greater flexibility and scalability for
clients like Yili. The shift is also expected to contribute to
Xiao-I's long-term financial stability by creating stronger
customer retention and improving cash flow predictability.
Since 2021, Xiao-I has provided Yili with cutting-edge AI
solutions, including an intelligent voice customer service platform
tailored to the needs of the fast-moving consumer goods (FMCG)
industry. The upgraded platform, built on Xiao-I's Hua Zang large
language model (LLM), enhances Yili's ability to respond to the
vast number of customer inquiries efficiently across its diverse
product lines, which include dairy products, beverages, and
packaged water.
Hui Yuan, CEO of Xiao-I
Corporation, commented:
"We are proud to continue our collaboration with Yili, a leader in
the global dairy industry. Yili is the largest dairy company in
China with the most comprehensive
range of products, ranked among the top five dairy companies
globally. This partnership has grown stronger over the years,
driven by mutual trust and innovation. With Yili's business model
shift from its AI-driven customer service platform to a
subscription-based model, we are able to further expand our
offerings to Yili and continue delivering AI-driven solutions that
support Yili's mission of providing world-class products."
About Xiao-I Corporation
Xiao-I Corporation is a leading cognitive intelligence
enterprise in China that offers a
diverse range of business solutions and services in artificial
intelligence, covering natural language processing, voice and image
recognition, machine learning, and affective computing. Since its
inception in 2001, the Company has developed an extensive portfolio
of cognitive intelligence technologies that are highly
suitable and have been applied to a wide variety of business cases.
Xiao-I powers its cognitive intelligence products and services
with its cutting-edge, proprietary AI technologies to enable
and promote industrial digitization, intelligent upgrading, and
transformation. For more information, please visit:
www.xiaoi.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's ability to achieve its goals and
strategies, the Company's future business development and plans for
future business development, including its financial conditions and
results of operations, product and service demand and acceptance,
reputation and brand, the impact of competition and pricing,
changes in technology, government regulations, fluctuations in
general economic and business conditions in China, and assumptions underlying or related
to any of the foregoing and other risks contained in reports filed
by the Company with the U.S. Securities and Exchange Commission
("SEC"). For these reasons, among others, investors are cautioned
not to place undue reliance upon any forward-looking statements in
this press release. Additional factors are discussed in the
Company's filings with the SEC, including under the section
entitled "Risk Factors" in its annual report on Form 20-F filed
with the SEC on April 30, 2024, as
well as its current reports on Form 6-K and other filings, all of
which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
For investor and media inquiries, please contact:
Ms.
Berry Xia
Email: ir@xiaoi.com
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SOURCE Xiao-I Corporation