Starbox Launches AI-Driven Digital Human System for Merchants on WeChat Channels, Supporting Its Over 800 Merchants and Over Two Million Existing Users via Live Streaming and Short Videos

Rhea-AI Summary

Starbox Group Holdings (Nasdaq: STBX) has announced the launch of an AI-Driven Digital Human System for merchants on WeChat Channels through its subsidiary, Starbox Technologies Sdn. Bhd. This system supports over 800 merchants and two million existing users via live streaming and short videos.

The new system enables merchants to create and publish video content on WeChat Channels, enhancing the reach of Starbox Technologies' cash rebate platform. AI-powered virtual hosts can engage consumers 24/7, while an intelligent engine analyzes user behavior to deliver personalized recommendations. The platform offers instant cash rebates for cross-border shopping, aiming to boost sales conversion rates and strengthen the cash rebate platform.

This strategic expansion aligns with global market trends and supports Starbox Technologies' mission to innovate in e-commerce, particularly in Southeast Asia. CEO Lee Choon Wooi stated that this approach aims to expand their market reach and strengthen their global presence by tapping into WeChat Channels' extensive user base.

Positive

• Launch of AI-Driven Digital Human System for merchants on WeChat Channels
• Support for over 800 merchants and two million existing users
• 24/7 consumer engagement through AI-powered virtual hosts
• Personalized video and product recommendations based on user behavior analysis
• Instant cash rebates offered for cross-border shopping
• Expansion of market reach in Southeast Asia

Negative

• None.

Insights

Tech Expert

The launch of Starbox's AI-Driven Digital Human System marks a significant leap in e-commerce technology. This system integrates AI-powered virtual hosts with WeChat Channels, enabling 24/7 live streaming and personalized content delivery. The technology's ability to analyze user behavior and offer tailored recommendations could substantially boost conversion rates.

However, the success of this system hinges on several factors:

• User acceptance of AI-driven interactions
• Quality and relevance of AI-generated content
• Integration efficiency with WeChat's ecosystem
• Scalability to handle increased user engagement

While innovative, the long-term impact on Starbox's revenue and market position remains to be seen, as competition in AI-driven e-commerce solutions is intensifying rapidly.

Market Research Analyst

Starbox's strategic move to leverage WeChat Channels is astute, given WeChat's massive user base in Asia. This expansion could significantly increase Starbox's market reach, potentially tapping into millions of new users. The integration of cash rebates with AI-driven content creation addresses two key e-commerce trends: personalized shopping experiences and instant gratification through rewards.

Key market implications include:

• Potential for rapid user acquisition in Southeast Asia
• Enhanced competitiveness in the cross-border e-commerce sector
• Increased merchant adoption due to 24/7 sales capability

However, success will depend on effective localization strategies and the system's ability to adapt to diverse Southeast Asian markets. The impact on Starbox's market cap ($46.7 million) could be substantial if execution is successful.

KUALA LUMPUR, Malaysia, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Starbox Group Holdings Ltd. (Nasdaq: STBX) (“Starbox” or the “Company”), a service provider of cash rebates, advertising, and payment solutions, is excited to announce that its wholly owned subsidiary, Starbox Technologies Sdn. Bhd. ("Starbox Technologies”), has launched its AI-Driven Digital Human System for merchants on WeChat Channels, supporting over 800 Starbox Technologies' merchants and over two million existing users via live streaming and short videos.

Marking a significant advancement in e-commerce, Starbox Technologies has launched its AI-Driven Digital Human System, enabling merchants to create and publish live streams and short videos on WeChat Channels. This initiative enhances the reach of Starbox Technologies’ existing cash rebate platform by allowing merchants to promote and sell their products through video content.

Merchants can now create content and host live streams using the AI-Driven Digital Human System. Virtual hosts powered by AI can continuously engage consumers with 24/7 availability, forging connections between consumers and brands. Further, the cash rebate platform’s intelligent engine analyzes consumers’ user behavior and delivers personalized video and product recommendations to consumers, which may boost the sales conversion rate and strengthen the cash rebate platform.

Leveraging the reach and engagement of WeChat Channels, the cash rebates platform and the AI-Driven Human System offer users instant cash rebates, which are designed to make cross-border shopping more rewarding and efficient. This strategic expansion supports Starbox Technologies’ mission to innovate in the evolving world of e-commerce, particularly through video content, with a focus on the Southeast Asia region.

“This innovative approach aligns with global market trends and supports our expansion efforts, especially in Southeast Asia, significantly expanding Starbox Technologies' cash rebates market reach,” said Lee Choon Wooi, Chief Executive Officer and Chairman of the Board of Directors at Starbox. “By tapping into WeChat Channels’ extensive monthly active user base, we aim to strengthen our global presence and our presence in Southeast Asia, and deliver our cutting-edge solutions to a wider audience.”

About Starbox Group Holdings Ltd.

Headquartered in Malaysia, Starbox is a technology-driven, rapidly growing company with innovation as its focus. Starbox is aiming to be a comprehensive technology solutions provider within Southeast Asia and also engages in building a cash rebate, advertising, and payment solution business ecosystem targeting micro, small, and medium enterprises that lack the bandwidth to develop an in-house data management system for effective marketing. The Company connects retail merchants with retail shoppers to facilitate transactions through cash rebates offered by retail merchants on its GETBATS website and mobile app. The Company provides digital advertising services to advertisers through its SEEBATS website and mobile app, GETBATS website and mobile app and social media. The Company also provides payment solution services to merchants. For more information, please visit the Company’s website: https://ir.starboxholdings.com and WeChat Channels: StarboxTechnologies.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

For more information, please contact: 

Starbox Group Holdings Ltd.
Investor Relations Department
Email: ir@starboxholdings.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7ae660e2-a464-4066-b7ba-043fa9fd385f

FAQ

What is Starbox Group Holdings 's new AI-Driven Digital Human System?

Starbox Group Holdings has launched an AI-Driven Digital Human System for merchants on WeChat Channels, enabling them to create and publish live streams and short videos to promote and sell their products.

How many merchants and users does Starbox Technologies' new system support?

The AI-Driven Digital Human System supports over 800 Starbox Technologies' merchants and over two million existing users via live streaming and short videos on WeChat Channels.

What are the key features of Starbox's AI-Driven Digital Human System?

Key features include AI-powered virtual hosts for 24/7 consumer engagement, personalized video and product recommendations based on user behavior analysis, and instant cash rebates for cross-border shopping.

How does Starbox's new system aim to improve e-commerce?

The system aims to boost sales conversion rates, strengthen the cash rebate platform, and make cross-border shopping more rewarding and efficient through personalized recommendations and instant cash rebates.

What is Starbox's strategy for expansion with this new system?

Starbox is focusing on expanding its market reach in Southeast Asia by leveraging WeChat Channels' extensive monthly active user base to strengthen its global presence and deliver its solutions to a wider audience.