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On September 20, 2024
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Xiao-I Corporation Renews and Expands Partnership with Inner Mongolia Yili, Transitioning to Subscription-Based Model for AI Services
SHANGHAI, Sept. 19, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading artificial intelligence company, today announced the renewal of its contract with Inner Mongolia Yili Industrial Group Co., Ltd. ("Yili") (A Share:600887). This renewal continues a long-standing partnership and marks an important shift, as Yili transitions its AI-driven customer service platform to a subscription-based model, optimizing service delivery and increasing operational efficiency. This transition to a subscription model, known as Maas (Model as a Service), represents a new business model that Xiao-I has been actively promoting. It reflects a broader trend in the software and AI industries, offering greater flexibility and scalability for clients like Yili. The shift is also expected to contribute to Xiao-I's long-term financial stability by creating stronger customer retention and improving cash flow predictability. Since 2021, Xiao-I has provided Yili with cutting-edge AI solutions, including an intelligent voice customer service platform tailored to the needs of the fast-moving consumer goods (FMCG) industry. The upgraded platform, built on Xiao-I's Hua Zang large language model (LLM), enhances Yili's ability to respond to the vast number of customer inquiries efficiently across its diverse product lines, which include dairy products, beverages, and packaged water. Hui Yuan, CEO of Xiao-I Corporation, commented: "We are proud to continue our collaboration with Yili, a leader in the global dairy industry. Yili is the largest dairy company in China with the most comprehensive range of products, ranked among the top five dairy companies globally. This partnership has grown stronger over the years, driven by mutual trust and innovation. With Yili's business model shift from its AI-driven customer service platform to a subscription-based model, we are able to further expand our offerings to Yili and continue delivering AI-driven solutions that support Yili's mission of providing world-class products." 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. For investor and media inquiries, please contact: Ms. Berry Xia Email: ir@xiaoi.com View original content:https://www.prnewswire.com/news-releases/xiao-i-corporation-renews-and-expands-partnership-with-inner-mongolia-yili-transitioning-to-subscription-based-model-for-ai-services-302253212.html
[2]
Xiao-I Corporation Renews and Expands Partnership with Inner Mongolia Yili, Transitioning to Subscription-Based Model for AI Services - XIAO-I (NASDAQ:AIXI)
SHANGHAI, Sept. 19, 2024 /PRNewswire/ -- Xiao-I Corporation AIXI ("Xiao-I" or the "Company"), a leading artificial intelligence company, today announced the renewal of its contract with Inner Mongolia Yili Industrial Group Co., Ltd. ("Yili") (A Share:600887). This renewal continues a long-standing partnership and marks an important shift, as Yili transitions its AI-driven customer service platform to a subscription-based model, optimizing service delivery and increasing operational efficiency. This transition to a subscription model, known as Maas (Model as a Service), represents a new business model that Xiao-I has been actively promoting. It reflects a broader trend in the software and AI industries, offering greater flexibility and scalability for clients like Yili. The shift is also expected to contribute to Xiao-I's long-term financial stability by creating stronger customer retention and improving cash flow predictability. Since 2021, Xiao-I has provided Yili with cutting-edge AI solutions, including an intelligent voice customer service platform tailored to the needs of the fast-moving consumer goods (FMCG) industry. The upgraded platform, built on Xiao-I's Hua Zang large language model (LLM), enhances Yili's ability to respond to the vast number of customer inquiries efficiently across its diverse product lines, which include dairy products, beverages, and packaged water. Hui Yuan, CEO of Xiao-I Corporation, commented: "We are proud to continue our collaboration with Yili, a leader in the global dairy industry. Yili is the largest dairy company in China with the most comprehensive range of products, ranked among the top five dairy companies globally. This partnership has grown stronger over the years, driven by mutual trust and innovation. With Yili's business model shift from its AI-driven customer service platform to a subscription-based model, we are able to further expand our offerings to Yili and continue delivering AI-driven solutions that support Yili's mission of providing world-class products." 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. 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. For investor and media inquiries, please contact: Ms. Berry Xia Email: ir@xiaoi.com View original content:https://www.prnewswire.com/news-releases/xiao-i-corporation-renews-and-expands-partnership-with-inner-mongolia-yili-transitioning-to-subscription-based-model-for-ai-services-302253212.html SOURCE Xiao-I Corporation Market News and Data brought to you by Benzinga APIs
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Xiao-I Corporation, a leading cognitive intelligence company, has renewed and expanded its partnership with Inner Mongolia Yili Industrial Group Co., Ltd. The collaboration now includes a transition to a subscription-based model, marking a significant shift in their business relationship.
Xiao-I Corporation, a prominent player in the cognitive intelligence sector, has announced the renewal and expansion of its strategic partnership with Inner Mongolia Yili Industrial Group Co., Ltd. (Yili Group), one of China's largest dairy producers 1. This development marks a significant milestone in the ongoing collaboration between the two companies, which began in 2021.
A key aspect of this renewed partnership is the transition from a project-based model to a subscription-based service model 2. This shift is expected to provide Yili Group with more flexible and scalable AI solutions, while also offering Xiao-I a more predictable and recurring revenue stream.
Under the new agreement, Xiao-I will continue to provide its advanced AI-powered customer service solutions to Yili Group. These solutions include intelligent outbound calls, AI training, and knowledge base construction [1]. The expanded partnership will see these services implemented across more of Yili's product lines and business units, potentially improving customer engagement and operational efficiency.
This partnership renewal represents a strategic move for Xiao-I Corporation. By transitioning to a subscription-based model, the company is aligning itself with modern SaaS (Software as a Service) practices. This approach could lead to more stable and predictable revenue, as well as deeper, long-term client relationships [2].
The expanded collaboration between Xiao-I and Yili Group showcases the growing adoption of AI technologies in traditional industries. It highlights how cognitive intelligence solutions are becoming increasingly integral to customer service and operational strategies in sectors such as food and beverage manufacturing [1].
Both companies express optimism about the future of their partnership. Xiao-I sees this as an opportunity to further showcase its AI capabilities and potentially expand its client base in the consumer goods sector. For Yili Group, the continued integration of AI solutions could lead to improved customer satisfaction and operational efficiencies [2].
While specific financial details of the agreement have not been disclosed, the market has responded positively to this news. The renewal and expansion of this partnership could be seen as a vote of confidence in Xiao-I's AI technologies and their practical applications in large-scale business operations [1][2].
Reference
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