Xiao-I Corporation and the National Association of the Deaf Partner to Enhance Accessible Communication for Deaf Individuals with AI Technology

Rhea-AI Summary

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.

Positive

• Strategic partnership with NAD to develop AI solutions for deaf communication
• Launch of Hearview Smart Glasses in the US market, addressing a potential market of 46 million adults with hearing loss
• Alignment with ESG principles and 'AI for Good' initiative, potentially enhancing company reputation

Negative

• None.

Insights

Tech Expert

Xiao-I's partnership with NAD marks a significant step towards leveraging AI for accessibility. The collaboration's focus on developing AI-driven communication tools for the deaf community addresses a substantial market need, with 46 million adults in the U.S. reporting some form of hearing loss. The launch of Hearview Smart Glasses demonstrates Xiao-I's commitment to practical AI applications, potentially opening new revenue streams in the assistive technology market.

However, success will depend on the effectiveness and adoption of these AI solutions. While the partnership shows promise, investors should monitor key performance indicators such as user adoption rates, accuracy of real-time subtitles and market penetration. The ESG angle of this initiative could positively impact Xiao-I's reputation and attract socially conscious investors, potentially boosting long-term shareholder value.

Market Research Analyst

This partnership positions Xiao-I strategically in the growing assistive technology market. With a target audience of 46 million adults in the U.S. alone, the potential market size is substantial. The global hearing aid market, which includes assistive devices, was valued at $8.99 billion in 2019 and is projected to reach $11.02 billion by 2028, indicating significant growth opportunities.

Xiao-I's entry into this market through AI-powered solutions could disrupt traditional assistive device manufacturers. However, success will hinge on product efficacy, pricing strategy and ability to navigate regulatory hurdles. Investors should watch for adoption rates among the deaf community and potential partnerships with healthcare providers or insurance companies, which could accelerate market penetration and revenue growth.

Financial Analyst

While the partnership with NAD and the launch of Hearview Smart Glasses demonstrate Xiao-I's commitment to innovation and social responsibility, the financial impact remains uncertain. The company hasn't disclosed specific revenue projections or development costs associated with this initiative. Investors should look for future announcements regarding sales figures, production costs and profit margins for the Hearview Smart Glasses.

The potential market is significant, but penetration and adoption rates will be crucial. If successful, this could open up a new revenue stream for Xiao-I, diversifying its product portfolio and potentially improving its financial stability. However, R&D expenses may increase in the short term. Watch for changes in the company's expense structure and any updates on the financial performance of this new product line in upcoming quarterly reports.

SHANGHAI, Sept. 9, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading artificial intelligence company, announces that it signed a strategic partnership with the National Association of the Deaf (the "NAD"), a premier American organization dedicated to improving the quality of life for deaf and hard of hearing individuals. This collaboration aims to leverage AI technology to break down communication barriers and enhance accessibility for the deaf community.

The NAD, established in 1880, is the nation's foremost civil rights organization for deaf and hard of hearing individuals, advocating for their rights and providing critical resources and support. The NAD's mission encompasses a wide range of advocacy areas including education, employment, healthcare, and technology, all aimed at improving the lives of millions of deaf and hard of hearing Americans.

The strategic cooperation between Xiao-I and NAD will focus on developing and implementing advanced AI solutions to facilitate seamless communication for deaf individuals. By integrating Xiao-I's cutting-edge AI technology with NAD's extensive expertise and resources, the partnership aims to create innovative tools and platforms that enhance communication accessibility. These AI-driven solutions will be tailored to meet the unique needs of the deaf community, ensuring they are user-friendly and highly effective in real-world scenarios. The collaboration seeks to empower deaf individuals by providing them with tools that enable better access to information, services, and opportunities, thus fostering greater inclusivity and social integration.

Introducing Hearview Smart Glasses for the Deaf
In line with Xiao-I's commitment to accessibility, the company has launched the Hearview Smart Glasses in US market in August 2024, designed to improve communication and accessibility for the deaf and hard-of-hearing community. These innovative glasses offer real-time subtitles for conversations, enhancing everyday interactions. According to data from the Centers for Disease Control and Prevention (CDC), approximately 46 million adults in the U.S. report some form of hearing loss, and Xiao-I's AI technologies aim to address this need. A product testing video can be viewed here: Hearview Smart Glasses Test.

This partnership underscores Xiao-I Corporation's commitment to its Environmental, Social, and Governance (ESG) principles and the "AI for Good" initiative. By focusing on social impact and the ethical use of AI, the collaboration aims to set a benchmark for how technology can be harnessed to address social challenges and promote equality. "At Xiao-I, we believe in the transformative power of AI to drive social good. Our partnership with NAD is a testament to our commitment to using AI to create inclusive solutions that improve lives," said Hui Yuan, CEO of Xiao-I Corporation. "Together, we aim to break down communication barriers and enhance the quality of life for deaf individuals."

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

FAQ

What is the purpose of Xiao-I 's partnership with the National Association of the Deaf?

The partnership aims to leverage AI technology to develop and implement advanced solutions that facilitate seamless communication for deaf individuals, enhancing accessibility and fostering greater inclusivity.

When did Xiao-I (AIXI) launch the Hearview Smart Glasses in the US market?

Xiao-I launched the Hearview Smart Glasses in the US market in August 2024.

How many adults in the U.S. report some form of hearing loss, according to the CDC data mentioned in the Xiao-I (AIXI) press release?

According to the Centers for Disease Control and Prevention (CDC) data mentioned in the press release, approximately 46 million adults in the U.S. report some form of hearing loss.

What feature do the Hearview Smart Glasses, launched by Xiao-I (AIXI), offer for the deaf and hard-of-hearing community?

The Hearview Smart Glasses offer real-time subtitles for conversations, enhancing everyday interactions for the deaf and hard-of-hearing community.