VCI Global Wins Its First AI Contract Worth US$16 Million
29 Oktober 2024 - 1:33PM
VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global” or
the “Company”) is pleased to announce that its subsidiary, V
Gallant Sdn Bhd (“V-Gallant”), has been awarded a groundbreaking
US$16 million contract to develop an advanced AI digital
human-enabled live streaming platform for a Malaysian e-commerce
player.
This innovative live-streaming platform
integrates a comprehensive development strategy that leverages AI
servers powered by NVIDIA H200 Tensor Core GPUs and V-Gallant’s AI
software. Engineered to deliver high-quality live streaming
enhanced by AI digital human solutions, it provides interactive
experiences aligned with industry standards and optimized UX. These
solutions are designed for seamless integration within its own
ecosystem and compatibility with major platforms like Tencent
Holdings Ltd., Meta Platforms, Inc., TikTok, and Instagram.
Additionally, they automate critical functions such as content
moderation, personalization, audience engagement, and production
processes, significantly enhancing the user experience and
fostering deeper connections between content creators and
audiences.
The Malaysian e-commerce player offers a robust
platform designed to facilitate a wide range of e-commerce
activities, providing both consumers and merchants with instant
rebates and affiliate cashback programs. This innovative platform
features a seamless e-payment solution that caters to both online
and physical retail environments, enhancing the shopping experience
for all users. As of September 25, 2024, the platform boasts a
solid network of nearly 3 million registered users and over 2,000
registered merchants, reflecting its expanding reach and influence
in the e-commerce market.
According to Statista, the Southeast Asia
e-commerce market is projected to reach approximately US$120
billion in revenue by 2029, with a robust annual growth rate (CAGR)
of 10.42% from 2024 to 2029. The number of users is expected to
exceed 260 million by 2029, resulting in a user penetration rate of
39.8%. Additionally, the average revenue per user (ARPU) is
forecasted to be around US$680, underscoring the significant growth
potential in this dynamic market.
“This contract represents a tremendous boost for
our AI division,” said Dato’ Victor Hoo, Group Executive Chairman
and Chief Executive Officer of VCI Global. “As competition in the
AI space intensifies, we are well-positioned to secure additional
projects within the e-commerce industry, particularly as we
approach 2025. Our commitment to innovation aligns with the growing
demand for sophisticated digital marketing tools in one of the
largest digital markets globally.”
About VCI Global Limited
VCI Global is a diversified holding company
headquartered in Kuala Lumpur, Malaysia. The Company operates
through five core businesses: Capital Market Consultancy, Fintech,
Real Estate, AI & Robotics, and Cybersecurity. In Capital
Market Consultancy, we provide IPO solutions, investor relations
(IR) and public relations (PR) consultancy, and M&A
consultancy. Our Fintech arm offers a proprietary financing
platform. In Real Estate, we offer specialized real estate
consultancy services. The AI business delivers GPU servers, GPU
cloud computing services, AI and large language model (LLM)
solutions, while the Robotics segment focuses on post-harvest
robotics systems. Our Cybersecurity segment provides comprehensive
cybersecurity consultancy services and solutions. Committed to
fostering innovation and delivering exceptional value, VCI Global
has established a strong presence across the Asia-Pacific region,
the United States, Europe, and the Middle East, driving growth and
transformation on a global scale.
For more information on the Company, please log on to
https://v-capital.co/.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements that are subject to various risks and uncertainties.
Such statements include statements regarding the Company’s ability
to grow its business and other statements that are not historical
facts, including statements which may be accompanied by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. These forward-looking statements are
based only on our current beliefs, expectations, and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks, and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Therefore, you should not rely on
any of these forward-looking statements. Actual results could
differ materially from those described in these forward-looking
statements due to certain factors, including without limitation,
the Company’s ability to achieve profitable operations, customer
acceptance of new products, the effects of the spread of
coronavirus (COVID-19) and future measures taken by authorities in
the countries wherein the Company has supply chain partners, the
demand for the Company’s products and the Company’s customers’
economic condition, the impact of competitive products and pricing,
successfully managing and, general economic conditions and other
risk factors detailed in the Company’s filings with the United
States Securities and Exchange Commission (“SEC”). The
forward-looking statements contained in this press release are made
as of the date of this press release, and the Company does not
undertake any responsibility to update the forward-looking
statements in this release, except in accordance with applicable
law.
CONTACT INFORMATION:
For media queries, please contact:
VCI Global Limitedenquiries@v-capital.co
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