Xiao-I Signs Strategic Partnership with Leading AI Company in Middle East

Rhea-AI Summary

Xiao-I (NASDAQ: AIXI), a leading AI company, has entered a strategic partnership with a prominent AI company in the Middle East to develop AI enterprise solutions in the UAE. Xiao-I has recently established a subsidiary in Abu Dhabi, which will act as a hub for AI innovation and collaboration in the region. This partnership aims to combine the strengths of both companies to meet the rising demand for AI solutions in the UAE. Xiao-I's expertise in AI, coupled with its strategy of international expansion, highlights its commitment to delivering transformative AI solutions globally. The collaboration underscores Xiao-I's proactive approach to global AI opportunities and its dedication to responsible AI deployment, aiming to contribute significantly to the technological development of the Middle East and drive positive societal impact.

Positive

• Xiao-I has established a new subsidiary in Abu Dhabi, enhancing its international presence.
• The strategic partnership aims to address the growing demand for AI solutions in the UAE.
• Xiao-I brings robust AI capabilities and industry leadership to the partnership.
• The collaboration underscores Xiao-I's strategic planning and proactive approach to global opportunities.
• The partnership is expected to contribute significantly to the technological evolution of the Middle East.
• Xiao-I continues its mission to bring transformative AI solutions to a global audience.

Negative

• No specific financial data or revenue projections were provided in the press release.
• Potential risks related to integrating operations with the Middle Eastern partner are not addressed.
• There is no mention of immediate financial benefits or expected economic impact from the partnership.
• Challenges related to regulatory and cultural differences in the Middle East are not discussed.

SHANGHAI, June 12, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading AI company, announces that it entered a strategic partnership with a leading AI company in Middle East region to jointly explore and develop AI enterprise solutions in the UAE.

Xiao-I established its Middle East subsidiary in Abu Dhabi in the first quarter of this year to continue expanding its overseas market. Xiao-I's new subsidiary will serve as a crucial hub for AI innovation and collaboration in the Middle East. The additional strategic partnership aims to leverage the complementary strengths of both companies in the field of artificial intelligence, integrating resources to address the growing demand for AI solutions in the UAE.

Xiao-I brings to the table its robust capabilities in AI, having demonstrated its industry leadership through the development of innovative solutions that drive efficiency, enhance decision-making, and enrich product and service offerings. The company's AI prowess, combined with its strategic international expansion, underscores its mission to bring transformative AI solutions to a global audience.

This partnership underscores Xiao-I's strategic planning for its overseas endeavors, showcasing the company's proactive approach to identifying and capitalizing on emerging opportunities in the global AI landscape. By joining forces with the Middle Eastern AI leader, Xiao-I is well-positioned to make significant contributions to the region's technological evolution, all while staying true to its core mission of improving everyone's life with innovative Al technology.

The partnership is a testament to Xiao-I's continued dedication to pushing the boundaries of AI innovation and its unwavering commitment to the responsible and beneficial deployment of AI technologies across borders. Through this collaboration, Xiao-I is excited to contribute to the enrichment of the Middle Eastern AI ecosystem and to the broader goal of using AI to drive positive societal impact.

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 partnership involving Xiao-I?

Xiao-I has entered a strategic partnership with a leading AI company in the Middle East to develop AI enterprise solutions in the UAE.

What is the significance of Xiao-I's new subsidiary in Abu Dhabi?

Xiao-I's new subsidiary in Abu Dhabi will serve as a hub for AI innovation and collaboration in the Middle East.

How does Xiao-I plan to address the demand for AI solutions in the UAE?

Through the strategic partnership, Xiao-I aims to leverage its AI capabilities and the strengths of its Middle Eastern partner to meet the increasing demand for AI solutions in the UAE.

What are the benefits of Xiao-I's strategic partnership in the Middle East?

The partnership is expected to enhance Xiao-I's international presence, contribute to the technological evolution of the Middle East, and support its mission to deliver transformative AI solutions globally.

What are Xiao-I's strengths in the AI industry?

Xiao-I has demonstrated industry leadership by developing innovative AI solutions that drive efficiency, enhance decision-making, and enrich product and service offerings.

What is Xiao-I's mission in terms of AI technology?

Xiao-I's mission is to bring transformative AI solutions to a global audience, improving lives with innovative AI technology.