Legible Launches LibrarianAI Beta With Integrated ChatGPT

Rhea-AI Summary

Legible Inc. (CSE: READ, OTCQB: LEBGF) announced the integration of OpenAI's ChatGPT into its eBookstore's search engine, LibrarianAI. This innovative AI tool is designed to enhance book discovery, offering personalized recommendations to users among two million eBooks. The Open Beta launches in Q1, with a full release in Q2 as part of the premium membership service, Legible Unbound. With an estimated global eBook market size projected to grow from USD 20 billion in 2022 to USD 32 billion by 2032, Legible aims to leverage AI to boost sales and customer engagement.

Positive

• Integration of OpenAI's ChatGPT into LibrarianAI enhances user engagement and book discovery.
• Legible's eBookstore features an extensive catalog of two million titles.
• Projected growth in the global eBook market presents revenue opportunities for Legible.

Negative

• None.

 Innovative AI search embedded in Legible’s browser-based eBookstore offering two million eBooks will drive engagement, reading and sales

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) ("Legible” or the “Company”) is pleased to announce the world-first integration of Open AI’s ChatGPT (Chat Generative Pre-Trained Transformer) into its proprietary eBookstore search engine, LibrarianAI™. Embedding this innovative AI tool into Legible’s browser-based eReading system transforms book discovery, integrating ChatGPT’s legacy knowledge and capabilities and providing a whole new way to access the two million eBooks in Legible’s catalogue.

Preview of Legible LibrarianAI interface (Photo: Business Wire)

Legible’s LibrarianAI can converse fluently in any language and is being fine-tuned to provide swift, friendly, comprehensive responses and recommendations as well as information on any aspect of book content. Customers can ask questions about books, authors, and other topics related to literature, and receive personalized results based on cumulative learning about their interests and choices as well as links to Legible’s eBooks.

The Open Beta of Legible’s LibrarianAI launches in Q1 and Legible invites the public to sign up now at www.legible.ai. The LibrarianAI will be released in early Q2 as a membership service called Legible Unbound with several tiers and a free version with ads.

“At Legible, we anticipated the importance and transformative power of AI early in our development and began building our own AI product, originally called “The Librarian.” OpenAI’s ChatGPT has allowed us to accelerate this process,” stated Angela Doll, Legible’s Chief Publishing Officer. “As the world’s only browser-based eBookstore, Legible.com is ideally suited to use AI, combining worldwide web search with content from millions of eBooks.”

Legible’s LibrarianAI has the potential to turbocharge conversion rates, driving sales and engagement by helping customers find the perfect book to read and much more. Global eBook sales were an estimated USD$20 billion in 2022 and are projected to reach USD$32 billion by 2032 with a compound annual growth rate (CAGR) of 4.9% from 2022 to 2032.

"AI is quickly being adopted worldwide and will soon be integrated into many aspects of our personal lives and business transactions. Legible is extremely well positioned to be part of that future thanks to our fully vectorized content and proprietary machine learning algorithms," said Kaleeg Hainsworth, CEO of Legible. “This is an exciting time for AI and the entire publishing industry, and we can’t wait to launch the LibrarianAI and Legible Unbound. Our goal is nothing less than to provide the most advanced eBook discovery and reading experience in the world.”

About Legible Inc.

Legible Inc. is a next generation, transformational, global, AI-enriched eBook company on a mission to deliver millions of books to billions of readers, globally.

Legible provides innovative eReading experiences to anyone anywhere with an internet-enabled device via two high-value verticals with global growth potential: legible.com, a browser-based, mobile-first AI-driven B2C eBook entertainment/education platform delivering a global online bookstore and eReading system for the emerging web; and Legible Publishing, a global B2B eBook conversion and production service with specializing in multimedia digital publishing and eBook remediation for print-disabled and other accessibility-related audiences. Legible currently has approximately two million eBooks for sale from publishers, distributors and authors, including three of the Big Five Publishers and Ingram CoreSource, the world’s largest book distributor.

Founded and led by a team of technologists, authors, eBook publishers, designers, and publishing industry insiders, Legible is transforming the digital publishing industry and gaining market share through innovative, global 21^st century publishing and reading experiences. Its mobile-first, browser-based platform, a key differentiator, enables integration of video, music and interactive animation that bring formerly static eBooks to life as Living Books. Legible has partnered with Metrolinx, one of Canada’s largest transit authorities, to deliver eBooks to 7.5 million annual GO Transit riders in the Greater Toronto and Hamilton, Ontario area, and has contracted with King Features, a unit of Hearst, to distribute eComics featuring iconic comic book characters Popeye, Olive Oyl, Flash Gordon, Archie, Dennis The Menace, and more.

Legible is being positioned to become the go-to place to read eBooks and listen to audiobooks online. With core values of sustainability, accessibility, and global literacy, Legible is on the cusp of revolutionizing the publishing world and influencing the way the next billion people will read!

Visit Legible.com and discover the place where eBooks come to life.

Cautionary Note Regarding Forward Looking Information

This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005312/en/

Legible Inc.

Deborah Harford

EVP, Global Strategic Partnerships

1 (672) 514-2665

(CSE: READ) (OTCQB: LEBGF) (FSE: D0T)

invest@legible.com

Website: invest.legible.com

Source: Legible Inc.

FAQ

What is the significance of Legible's integration with OpenAI ChatGPT on February 9, 2023?

Legible's integration with ChatGPT enhances its eBookstore's search capabilities, improving user engagement and book discovery.

How will Legible's LibrarianAI benefit customers?

LibrarianAI offers personalized recommendations and comprehensive information, enhancing the reading experience for customers.

When is the Open Beta for LibrarianAI launching?

The Open Beta for LibrarianAI is set to launch in Q1 2023.

What are the projected sales figures for the global eBook market?

The global eBook market is projected to grow from USD 20 billion in 2022 to USD 32 billion by 2032.

What revenue opportunities does Legible see with its AI integration?

Legible anticipates that the integration of AI will boost sales and customer engagement, tapping into a growing market.