SHANGHAI, CHINA / ACCESSWIRE / May 22, 2023 / Xiao-I Corporation (NASDAQ:AIXI) ("Xiao-I" or the "Company"), the pioneering Chinese artificial intelligence ("AI") company listed on the U.S. stock exchange, announced during their listing ceremony its ambitions to build China's first ChatGPT-style AI tool as the Company's next step in its 20-year pursuit of advancing Cognitive Intelligence.
Xiao-I recognizes the enormous potential of creating a Chinese version of ChatGPT as the global demand for AI-powered technology continues to surge. According to a report by IDC, the global revenue for artificial intelligence was projected to grow 19.6% to reach a total of $432.8 billion in 2022. This forecast encompasses AI software, hardware, and services. For 2023, the anticipated revenue is expected to surpass the $500 billion threshold. Broadly speaking, IDC forecasts a compound annual growth rate of 22% for AI and expects the pace to maintain for the next five years.
With over 20 years of experience, Xiao-I has been pioneering Virtual Chatbot Technology at the forefront of developing cutting-edge Natural Language Processing ("NLP") and cognitive intelligence technologies. As of April 18, 2023, with 290 patents in China and overseas and 131 software registrations, Xiao-I boasts an expansive domain corpora of information in public services, finance, and other commercial enterprise domains in Mandarin, traditional Chinese, and English, making it well-equipped to undertake this exciting new project.
"Xiao-I 's objective is to develop a 'Chinese version of ChatGPT'," stated Yuan Hui, the Chairman and CEO of Xiao-I. He added, "At present, Xiao-I has a self-developed cognitive intelligence platform that has achieved large-scale commercial success with proprietary and unique intellectual property rights in China."
As a leader in cognitive intelligence, Xiao-I possesses six core technologies with NLP at the forefront. These also include computer vision, machine learning, affective computing, speech processing, data intelligence, and hyper-automation. Simultaneously, the company has emerged as a forerunner in the commercialization of these technologies.
Xiao-I established its Asia-Pacific headquarters in Hong Kong in 2018, and dozens of projects have been successfully launched and deployed across the international market. Xiao-I's smart technologies have also expanded their business reach to Southeast Asia and empowered global customers with its smart technology. At present, the company can provide global enterprise customers with multilingual versions including English, traditional/simplified Chinese as well as other AI products and solutions for nearly a thousand of enterprise customers with capability to quickly customize multilingual projects. Xiao-I's primary customers' span banks, large international, and local enterprises.
Notably, Xiao-I recently formed a strategic partnership with Guizhou Chinadatapay Network Technology Co., Ltd. ("Chinadatapay") to bolster its growth in cognitive intelligence by leveraging Chinadatapay's expertise in big data. This collaboration underscores the power of integrating vast data sets with cutting-edge algorithms, expected to further propel Xiao-I's research and development capabilities. This partnership indicates additional strength for Xiao-I's technological expansion that will simultaneously broaden its potential application market.
Looking ahead, Xiao-I remains committed to driving innovation in the AI industry and providing the best AI-powered solutions to their customers. Developing the Chinese version of ChatGPT is critical in showcasing their capability and leadership in the industry.
About Xiao-I Corporation
Xiao-I is leading the development of the global AI industry with cognitive intelligence as its core. Since its establishment in 2001, the company has focused on natural language processing-based cognitive intelligence patents and their industrial applications. Upholding a customer-oriented core value, Xiao-I offers a range of solutions and comprehensive services from technology to products for global enterprise customers.
After over 20 years of dedicated efforts, Xiao-I's technologies have been deployed in thousands of application scenarios across various sectors such as customer service center, intelligent finance, smart enterprises, smart energy and transportation, smart education, smart healthcare, smart manufacturing, intelligent parks, and intelligent construction and communication. For more information, please visit: www.xiaoi.com.
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 SEC.
Ms. Grace Hsu
SOURCE: Xiao-I Corporation
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