Xiao-I Corporation Announces Strategic Partnership with Top Hong Kong Insurance Company to Enhance AI-Driven Customer Service

Rhea-AI Summary

Xiao-I (NASDAQ: AIXI) announced a strategic partnership with a top Hong Kong insurance company to integrate advanced AI products into customer service operations, revolutionizing the insurance industry. The collaboration aims to enhance efficiency, personalization, and customer interactions, addressing challenges of slow response times, long waiting periods, and data retrieval inefficiencies.

Positive

• The partnership with the Hong Kong insurance company aims to revolutionize the insurance industry by enhancing customer service operations through the integration of Xiao-I's advanced AI solutions.

• The collaboration focuses on improving customer interactions, efficiency, and safety by utilizing iRobot and iVoice products, providing 24/7 online consultation services and advanced voice recognition features.

• The partnership highlights a commitment to innovation and customer satisfaction by setting new standards in service efficiency and safety through the incorporation of AI solutions.

Negative

• The insurance industry's reliance on human call agents and slow response times during peak periods poses challenges that could potentially impact the effectiveness of the AI integration.

• Data retrieval inefficiencies due to extensive internal knowledge bases dispersed across various storage systems may hinder the seamless operation of AI solutions, leading to errors and inefficiencies.

SHANGHAI, May 8, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading artificial intelligence company, is proud to announce a strategic partnership in April with a prominent Hong Kong insurance company. This collaboration aims to integrate Xiao-I's advanced AI products, including iRobot and iVoice, into the insurance company's customer service operations. This collaboration is set to revolutionize the insurance industry by integrating Xiao-I's advanced AI solution of "Hua Zang+Customer Service Center", including iRobot and iVoice, into the insurance company's customer service operations. The initiative aims to enhance the efficiency and personalization of customer interactions, leveraging Xiao-I's extensive experience and powerful capabilities.

The insurance industry has faced significant challenges due to the high volume of business during peak periods, leading to slow response times from human customer service agents and long customer waiting periods. As the business scale continues to expand, the demand for outbound calls has grown, placing enormous pressure on human call agents. Additionally, the company struggles with an extensive internal knowledge base dispersed across various storage systems, making data retrieval time-consuming, inefficient, and prone to errors, which makes the company keen to find a solution.

A service robot powered by Xiao-I's AI will provide 24/7 online consultation services, facilitating faster and superior customer experiences. Utilizing sophisticated natural language processing, the service robot can handle a variety of customer inquiries through multiple channels, including the insurance company's official WeChat, public accounts, and apps, whether through phone calls or texting. This service robot is designed to understand and respond to questions regarding policy inquiries, premium renewals, and more, with an intelligent Q&A functionality that ensures high precision and efficiency.

The key features of the partnership focus on advancing interaction, efficiency, and safety. The iRobot includes a responsive touchscreen and Voice User Interface (VUI) that efficiently manages queries and complex interactions, well-suited for customer environments. iVoice features advanced voice recognition and a real-time response system, ensuring dynamic communication and seamless integration to boost responsiveness. Additionally, the iVoice & iWarning system offers proactive services, handling multiple tasks simultaneously and providing timely alerts to enhance safety and efficiency, transforming how customer interactions are managed.

This partnership underscores the dedication of both Xiao-I and the Hong Kong insurance company to harness technology for transforming customer service. By incorporating these advanced AI solutions, the collaboration aims to set new standards in service efficiency, safety, and user interaction, affirming both companies' commitment to innovation and customer satisfaction.

About Xiao-I Corporation

Xiao-I Corporation is a leading cognitive intelligence company 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, as amended, filed with the SEC on August 10, 2023, 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.

 

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SOURCE Xiao-I Corporation

FAQ

<p>What is the strategic partnership announced by Xiao-I ?</p>

Xiao-I announced a strategic partnership with a top Hong Kong insurance company to integrate advanced AI products into customer service operations.

<p>What are the key features of the partnership between Xiao-I and the Hong Kong insurance company?</p>

The partnership focuses on improving customer interactions, efficiency, and safety through the utilization of iRobot and iVoice products, providing 24/7 online consultation services and advanced voice recognition features.

<p>How will the AI solutions benefit the insurance industry?</p>

The AI solutions aim to enhance service efficiency, safety, and user interaction, setting new standards in customer service operations.