Welcome to our dedicated page for Xiao-I Corporation news (Ticker: AIXI), a resource for investors and traders seeking the latest updates and insights on Xiao-I Corporation stock.
About Xiao-I Corporation (NASDAQ: AIXI)
Xiao-I Corporation is a leading cognitive intelligence enterprise specializing in the industrialization of artificial intelligence (AI). The company’s proprietary AI Cognitive Intelligence platform integrates six core technologies: Natural Language Processing (NLP), Speech Processing, Computer Vision, Machine Learning, Affective Computing, and Data Intelligence. This platform underpins a diverse range of AI-powered products and solutions tailored to industries such as finance, healthcare, manufacturing, public services, and more.
Business Model and Revenue Streams
Xiao-I generates revenue through three primary channels: the sale of software products and services, maintenance and support (M&S) services, and cloud platform products. Recently, the company has embraced a subscription-based Model-as-a-Service (MaaS) framework, offering scalable and predictable revenue streams while enhancing customer retention. This approach aligns with broader industry trends favoring flexibility and long-term partnerships.
Innovative Applications Across Industries
The company’s AI solutions have been deployed across multiple sectors, addressing critical challenges and driving digital transformation:
- AI+ Contact Centers: Enhancing customer service efficiency with advanced chatbot solutions tailored for enterprise needs.
- AI+ Healthcare: Developing assistive technologies such as AI-powered smart glasses for individuals with hearing impairments.
- AI+ Finance: Streamlining financial operations with intelligent automation tools.
- AI+ Manufacturing: Optimizing production processes through data intelligence and hyper-automation.
- AI+ Public Services: Facilitating smart city initiatives with AI-driven citizen services.
Global Expansion and Strategic Partnerships
Headquartered in China, Xiao-I has strategically expanded its presence in international markets, including the United States. The company’s partnerships with organizations such as the National Association of the Deaf (NAD) and Deafopia underscore its commitment to leveraging AI for social good. These collaborations focus on accessibility and inclusivity, particularly for underserved communities.
Technological Leadership
At the heart of Xiao-I's innovation is its Hua Zang Large Language Model (LLM), a cutting-edge AI engine that powers its solutions. The model’s adaptability and efficiency have been demonstrated in applications ranging from HR automation in public sectors to customer service enhancements. Xiao-I’s focus on ethical AI development and environmental, social, and governance (ESG) principles further cements its role as a responsible technology leader.
Market Position and Competitive Landscape
Xiao-I operates in a highly competitive AI landscape, contending with global players while leveraging its localized expertise and proprietary technologies. Its emphasis on cognitive intelligence and industrial digitization sets it apart as a key enabler of intelligent transformation across industries.
Commitment to Innovation and Accessibility
Driven by its mission to harness AI for societal benefit, Xiao-I continues to develop technologies that address real-world challenges. Its AI-powered devices, such as the Hearview Smart Glasses and tAIkbox 1, exemplify its dedication to improving lives and fostering inclusivity. By aligning innovation with accessibility, Xiao-I is shaping a future where AI empowers individuals and organizations alike.
With a robust portfolio of technologies and a strategic focus on global markets, Xiao-I Corporation is well-positioned to drive the next wave of AI industrialization and digital transformation.
Xiao-I (NASDAQ: AIXI) has partnered with the National Association of the Deaf (NAD) to enhance accessible communication for deaf individuals using AI technology. The collaboration aims to develop innovative tools and platforms tailored to the deaf community's needs, fostering greater inclusivity and social integration.
Key highlights:
- Xiao-I launched Hearview Smart Glasses in the US market in August 2024, offering real-time subtitles for conversations.
- Approximately 46 million adults in the U.S. report some form of hearing loss, according to CDC data.
- The partnership aligns with Xiao-I's ESG principles and 'AI for Good' initiative, aiming to set a benchmark for using technology to address social challenges and promote equality.
Xiao-I (NASDAQ: AIXI), a leading AI company, has issued revenue guidance of $73 million for fiscal year 2024, projecting a 25% increase from the $59 million reported in FY 2023. The company attributes this growth to successful refinement and market deployment of its AI technologies. Xiao-I also anticipates a decline in R&D expenses as it focuses on achieving profitability. CEO Hui Yuan stated that their AI systems have reached a high level of maturity, allowing for decreased R&D spending. This strategy aims to improve margins and enhance overall financial performance, contributing to improved profit margins and continued reduction in losses.
Xiao-I (NASDAQ: AIXI) has provided an update on its VIE's ongoing patent infringement lawsuit against Apple. The case, filed by Shanghai Xiao-i Robot Technology Co., in the Shanghai High People's Court, alleges that Apple's Siri infringes on Shanghai Xiao-i's intelligent assistant patent (ZL200410053749.9). The trial, which began on August 3, 2020, has officially concluded on July 31, 2024, with a verdict pending.
Key developments include:
- Shanghai Xiao-i filed for an injunction against Apple in September 2021
- Apple filed a countersuit in February 2023
- The Beijing Intellectual Property Court upheld the validity of Shanghai Xiao-i's patent on June 28, 2024
This lawsuit is significant for Xiao-I, as it conducts most of its operations through Shanghai Xiao-i, its variable interest entity in China.
Xiao-I (NASDAQ: AIXI), a leading AI company, announces a change in its American Depositary Shares (ADS) ratio effective August 23, 2024. The new ratio will be 1 ADS to 3 ordinary shares, equivalent to a 1-for-9 reverse ADS split. This change affects ADS holders but not underlying ordinary shares. Uncertificated ADS holders in The Depository Trust Company will have their ADSs automatically exchanged. Citibank, N.A., the depositary bank, will manage the exchange process. Fractional new ADSs will be sold, with net proceeds distributed to applicable ADS holders. The ADS trading price is expected to increase proportionally, though this is not guaranteed.
Xiao-I (NASDAQ: AIXI) has successfully launched its Hearview Smart Glasses in the U.S. market. The event, streamed live on YouTube on August 8th, 2024, showcased this innovative product designed to assist individuals with hearing impairments. The smart glasses combine advanced auditory technology with AI to offer users a more connected and accessible experience.
CEO Hui Yuan emphasized the company's commitment to enhancing the quality of life for those with hearing challenges. The launch event replay is available on the official Hearview YouTube channel, along with a comprehensive review by a respected tech Key Opinion Leader, providing insights into the product's features and benefits.
Xiao-I (NASDAQ: AIXI), a leading AI company, has announced plans to change its American Depositary Shares (ADS) ratio from 1 ADS to one-third of an ordinary share to 1 ADS to 3 ordinary shares. This change, effective around August 23, 2024, will have the same effect as a one-for-nine reverse ADS split. The ADS ratio change will be automatic for uncertificated ADS holders in The Depository Trust Company (DTC).
No fractional new ADSs will be issued; instead, fractional entitlements will be sold, and net proceeds distributed to ADS holders. The company's ADSs will continue trading on Nasdaq under the symbol 'AIXI'. While the ADS trading price is expected to increase proportionally, Xiao-I cannot guarantee it will be equal to or greater than 9 times the pre-change price.
Xiao-I (NASDAQ: AIXI) has partnered with a leading telecommunications provider to deploy its advanced AI Chatbot solution in Q2 2024. This strategic collaboration aims to enhance customer service operations by improving service efficiency, reducing costs, and providing round-the-clock personalized support. Tailored for enterprise-level Maas (Model as a Service), Xiao-I's chatbot offers controlled responses, customization based on business needs, and rapid deployment. By automating repetitive tasks, the chatbot allows human agents to handle more complex issues, thus increasing overall service efficiency and customer satisfaction. The deployment on WhatsApp marks a significant advancement in customer service, setting a new industry standard.
Xiao-I (NASDAQ: AIXI) has entered a strategic partnership with a major government agency in Hong Kong to implement an advanced AI Chatbot solution. This collaboration aims to enhance the agency's customer service by addressing challenges such as complex policy explanations, high service demand, and multilingual communication needs. The AI chatbot will streamline processes, improve efficiency, and provide personalized responses. This integration is expected to reduce operational costs, improve response times, and offer 24/7 support, ultimately boosting overall customer satisfaction and service quality.
On June 20, 2024, Xiao-I (NASDAQ: AIXI) announced a significant contract with an international insurance provider based in China. This deal focuses on utilizing Xiao-I's advanced AI solutions to enhance operational efficiencies in the insurance sector. The contract includes three key AI products: Smart Outbound Call, AI Chatbot, and Intelligent Knowledge Management. These solutions aim to handle multilingual support, high inquiry volumes, data privacy, and 24/7 personalized support, thereby improving customer satisfaction and operational efficiency. Xiao-I's AI products are designed to streamline processes, reduce costs, and enhance the overall customer experience.
Xiao-I (NASDAQ: AIXI) announced the closing of a $3,260,870 Senior Convertible Notes Offering. The Notes, with an 8% Original Issue Discount, are convertible into the Company's ordinary shares as American Depositary Shares (ADS). Additionally, 1,000,002 ADS were offered at par, representing 333,334 ordinary shares, for gross proceeds of $2,994,945. After expenses, net proceeds were approximately $2,496,945. The funds will be used for working capital and general corporate purposes. FT Global Capital Inc. acted as the exclusive placement agent.
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