Xiao-I Corporation Secures Major Contract for AI-Powered Solutions in Energy Sector

Rhea-AI Summary

Xiao-I (NASDAQ: AIXI) has secured a key contract with an international engineering consulting firm within a major energy conglomerate. This agreement aims to leverage Xiao-I's AI-powered Smart Outbound Call solution to automate the expert invitation process, which currently involves manually notifying tens of thousands of experts annually. The solution uses the Hua Zang Large Language Model (LLM), integrating Natural Language Understanding, Speech Recognition and Synthesis, Dialogue Management, and Machine Learning technologies for enhanced performance and reduced delivery costs. This collaboration highlights Xiao-I's commitment to operational efficiency and quality service in the energy sector.

Positive

• Secured a significant contract with an international engineering consulting firm.
• AI solution aims to automate labor-intensive processes, potentially increasing efficiency.
• Utilizes advanced technologies like Hua Zang LLM, Natural Language Understanding, and Machine Learning.
• Promise of lower delivery costs and better performance in AI product deployment.
• Application of AI solution in hundreds of use cases across various sectors, including governments and finance.
• Potential to set new standards for operational efficiency and service quality in the energy industry.

Negative

• Heavy reliance on AI technology might face resistance or skepticism from traditional sectors.
• Initial deployment and integration of the AI system may involve significant upfront costs.
• Any technical failures or inefficiencies in the AI solution could lead to client dissatisfaction.

Insights

Financial Analyst

Xiao-I Corporation's new contract in the energy sector indicates a potentially significant revenue stream. Given the scale of the project and the need to engage tens of thousands of experts annually, this contract could significantly enhance Xiao-I's revenue stability and market penetration. For investors, this contract serves as a positive sign of Xiao-I's ability to secure high-value collaborations in critical sectors.

However, there are potential risks. The successful deployment and integration of AI solutions are crucial. Any technical glitches, delays, or customer dissatisfaction could negatively impact the project's financial returns. Additionally, while this contract showcases growth, long-term profitability will depend on the continuous evolution and performance of their technology and customer satisfaction.

For the short-term, investors might see an uptick in stock value fueled by the positive news. In the long-term, it is essential to monitor the execution and performance of this project to gauge its overall impact on Xiao-I's financial health and market position.

Tech Expert

The deployment of Xiao-I's Smart Outbound Call platform, powered by the Hua Zang Large Language Model (LLM), represents a significant technological leap. The integration of advanced Natural Language Understanding, Speech Recognition and Dialogue Management capabilities can substantially boost operational efficiency in the energy sector.

The AI's ability to replace human agents in outbound call tasks dramatically reduces labor costs and mitigates human error. The performance metrics suggested by Xiao-I, such as faster access and lower delivery costs, are promising. However, the true measure of success will be the AI's performance in real-world scenarios, including its accuracy, reliability and user satisfaction.

The energy sector's adoption of such advanced AI solutions indicates a growing trust in AI technologies, which bodes well for future AI engagements across various industries. Investors should remain attentive to updates on the performance and satisfaction metrics to gauge long-term technological viability.

SHANGHAI, June 14, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading AI company, is excited to announce a significant contract with an international engineering consulting firm, a specialized service unit within a prominent energy conglomerate. This collaboration marks a pivotal step in leveraging AI to optimize operational efficiencies within the energy sector.

The engineering consulting firm, responsible for the group's bidding, cost estimation, and engineering consulting services, recognized the need to enhance the efficiency and quality of its expert services. To address this, the firm sought to automate the expert invitation process through the procurement of Xiao-I's product: Smart Outbound Call.

The firm has the need to invite tens of thousands of experts annually for various meetings, the current manual notification process has proven to be labor-intensive and inefficient. The primary goal of this project is to increase work efficiency.

Xiao-I Corporation offers a customized solution tailored to the client's expert engagement scenarios. The AI dialing platform, based on the controllable, customizable, and deliverable Hua Zang Large Language Model（"Hua Zang LLM"）, promises faster access, better performance, and lower delivery costs for AI product deployment. The Hua Zang LLM, combined with the Outbound Call solution, leverages Xiao-I's industry-leading Natural Language Understanding, Speech Recognition and Synthesis, Dialogue Management, and Machine Learning technology. This Smart Outbound Call solution replaces human agents with chatbots to help enterprises complete outbound call tasks, and apply to customer business scenarios. This solution has been applied in hundreds of use cases for governments, finance, and enterprises.

This collaboration signifies a major advancement in automating and enhancing expert services within the energy sector. It underscores Xiao-I Corporation's commitment to delivering innovative and effective AI solutions, setting a new standard for operational efficiency and service quality in the industry.

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.

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SOURCE Xiao-I Corporation

FAQ

What is the recent major contract secured by Xiao-I ?

On June 14, 2024, Xiao-I secured a major contract with an international engineering consulting firm within a leading energy conglomerate to automate the expert invitation process using its AI-powered Smart Outbound Call solution.

What is the primary goal of Xiao-I's new contract in the energy sector?

The primary goal is to increase work efficiency by automating the labor-intensive expert invitation process using Xiao-I's AI-powered Smart Outbound Call solution.

What technology does Xiao-I's Smart Outbound Call solution use?

The solution uses the Hua Zang Large Language Model (LLM) and integrates Natural Language Understanding, Speech Recognition and Synthesis, Dialogue Management, and Machine Learning technologies.

How does Xiao-I's AI solution improve performance and reduce costs?

The Hua Zang LLM promises faster access, better performance, and lower delivery costs for AI product deployment, enhancing operational efficiency.

What sectors have applied Xiao-I's AI solutions?

Xiao-I's AI solutions have been applied in hundreds of use cases across sectors including governments, finance, and enterprises.

How does the new contract impact Xiao-I's standing in the energy sector?

The contract signifies a major advancement in automating and enhancing expert services, setting a new standard for operational efficiency and service quality in the energy sector.