SHANGHAI, Nov. 11,
2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ:
AIXI), a leading AI enterprise, today announced a strategic
agreement with an undisclosed Hong
Kong public sector client. This engagement further
solidifies Xiao-I's reputation and expands its footprint in the
Hong Kong public sector, and is
projected to generate initial revenue of approximately 8 million Hong Kong dollars. Through this
collaboration, Xiao-I will leverage its proprietary HuaZang Large
Language Model (LLM) as the foundational model, with Chatbot
application, to enhance the client's existing HR operations,
enabling an AI-driven transformation of their internal
workflows.
HuaZang LLM powered Chatbot has been specifically tailored to
meet the unique HR needs of the client, delivering a suite of
AI-powered functionalities to enhance operational efficiency. The
Chatbot supports a range of HR tasks, handling personnel inquiries,
providing guidance to users, and automating notifications for
essential HR processes such as onboarding and offboarding, housing
benefits, provident fund management, medical benefits, and
compensation inquiries. HuaZang's continuous data categorization
and learning capabilities ensure it becomes progressively more
effective and aligned with the client's evolving requirements.
The agreement follows a recurring revenue structure under
Xiao-I's "Model-as-a-Service" (MaaS) framework, enabling a
predictable and scalable revenue stream for Xiao-I. As HuaZang
adapts to new data over time, it enhances the "stickiness" of the
service, positioning Xiao-I as a long-term strategic partner for
the client.
"This collaboration underscores our capacity to drive impactful
digital transformation in public sector settings, and we see it as
a foundation for expanding our presence among Hong Kong public sector," said Hui Yuan, CEO of Xiao-I Corporation. "Our
solution not only brings immediate value with an 8 million HKD initial revenue impact but also
provides a dynamic tool that adapts to our clients' needs over
time."
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