Digerati Technologies’ Operating Subsidiary, Verve Cloud, Inks Partnership with AI Technology Company, Vida Global, Inc.

Rhea-AI Summary

Digerati Technologies (OTCQB: DTGI) announced that its subsidiary, Verve Cloud, has entered into a favored-nations agreement with Vida Global, a conversational AI technology company. This collaboration aims to integrate Vida’s advanced AI technology into Verve’s UCaaS product suite, enhancing its value proposition for small to medium-sized businesses (SMBs). Vida’s AI digital agents can manage key business functions such as customer interactions, appointment scheduling, and lead qualification. The product, targeting Verve's existing and prospective customers, is designed for easy setup and operation, potentially increasing business efficiency and cost savings. This partnership underscores Digerati's commitment to delivering reliable and high-quality communication solutions.

Positive

• Partnership with Vida Global to enhance Verve's UCaaS product suite with conversational AI technology.
• Integration of AI technology to manage key business functions such as customer interactions and appointment scheduling.
• Product designed for easy setup and operation, aimed at increasing business efficiency and cost savings.
• Targeting existing and prospective customers, potentially expanding Verve's market reach.

Negative

• None.

Favored Nations Agreement is Expected to Enhance Verve’s UCaaS Product Suite with Conversational AI Technology

SAN ANTONIO, July 09, 2024 (GLOBE NEWSWIRE) -- Digerati Technologies, Inc. (OTCQB: DTGI) ("Digerati" or the "Company"), a provider of cloud services specializing in Unified Communications as a Service (“UCaas") solutions for the small to medium-sized business (“SMB”) market, announced today that its operating subsidiary, Verve Cloud, Inc. (“Verve”) entered into a favored-nations agreement and partnership with Vida Global, Inc. (“Vida”), a conversational AI technology company based in Austin, Texas.

In the coming months, Verve and Vida will collaborate on development efforts to integrate Vida’s AI technology with Verve’s voice platform to incorporate the latest in conversational AI capabilities that can serve a variety of industries. Verve’s planned product launch will target its existing base of business users and prospective customers with a technology solution that it believes will enhance the value proposition of its UCaaS offering.

Designed for the SMB market, Vida’s AI technology requires minimal technical expertise for setup and operation by end users. Vida’s AI digital agents can manage many key business functions, including conversing with customers, scheduling appointments, qualifying leads, automating workflows and more. The flexibility of the technology enables businesses to easily incorporate conversational AI into existing processes and adapt it to suit various scenarios or needs with the goal of growing their business while saving money. The conversation experience, that is lifelike and realistic, is built on the most advanced AI technology with digital agents that will work 24/7, 365 days per year. Vida’s AI technology incorporates powerful machine learning that enables real-time conversations with low latency that even allows for customization using a user’s own voice. For more information on Vida, please visit vida.io.

Craig K. Clement, Executive Chairman and interim CEO of Digerati, commented, “We have worked with the CEO of Vida, Lyle Pratt, on past ventures and entered into this agreement with confidence, knowing that we picked the right partner for our move towards delivering a reliable and high-quality conversational AI solution.   We look forward to the product launch that will introduce our AI solution to Verve’s existing business users, prospective customers and partner network.”

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS solutions for the SMB market. Through its operating subsidiary Verve Cloud, Inc. (vervecloud.com), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including, cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market, as it delivers business solutions on its carrier-grade network and Only in the Cloud™. For more information, please visit www.digerati-inc.com and follow DTGI on LinkedIn, X, and Facebook.

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company such as ‘Verve’s planned product launch will target its existing base of business users and prospective customers with a technology solution that it believes will enhance the value proposition of its UCaaS offering’. Although the Company believes the expectations reflected in the forward-looking statements, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, our inability to source suitable acquisition targets, failure to execute growth strategies, lack of product development and related market acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company’s periodic filings with the Securities and Exchange Commission.

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FAQ

What is the new partnership announced by Digerati Technologies?

Digerati Technologies announced a partnership between its subsidiary Verve Cloud and Vida Global, aiming to integrate conversational AI technology into its UCaaS product suite.

What are the benefits of Verve Cloud's new AI technology?

Verve Cloud's new AI technology can manage customer interactions, schedule appointments, and qualify leads, enhancing business efficiency and reducing costs.

When was the partnership between Verve Cloud and Vida Global announced?

The partnership between Verve Cloud and Vida Global was announced on July 9, 2024.

How will the new AI technology affect Verve Cloud's product offering?

The new AI technology will enhance Verve Cloud's UCaaS product suite by incorporating advanced conversational AI capabilities, improving its value proposition for SMBs.

Who are the target customers for Verve Cloud's enhanced UCaaS product suite?

The target customers for Verve Cloud's enhanced UCaaS product suite are small to medium-sized businesses, including both existing and prospective customers.