Piscataway, NJ – December 17, 2024 – Xiao-I Corporation (NASDAQ: AIXI), a leading artificial intelligence company (“Xiao-I”), today announced significant milestones in expanding its U.S. presence and delivering impactful technology solutions.
Breakthrough in U.S. State Procurement Programs – Xiao-I has been invited to register for centralized procurement programs by four U.S. state governments, marking a critical step in its strategy to provide AI-driven solutions to public-sector organizations. The inclusion in these procurement lists underscores the company’s commitment to advancing accessibility and innovation in government services.
“We are honored to be considered for these procurement programs, which will allow us to bring our AI technology to more communities in need,” said Hui Yuan, CEO of Xiao-I. “This milestone not only reflects our growth in the U.S. market but also supports our mission to make life easier for Deaf and hard-of-hearing individuals through accessible solutions.”
AI Glasses Driving Inclusion and Accessibility – Xiao-I’s AI-powered glasses, launched in August, have been widely embraced by the Deaf and hard-of-hearing community. These glasses leverage advanced AI to bridge communication gaps, providing life-changing support for underserved individuals and families.
The company estimates delivering at least 10,000 units in 2025, generating $12-15 million in new revenue for the year. These figures represent the company’s best current estimates based on market conditions and anticipated demand.
Commitment to AI for Good – As part of its mission to harness AI for societal benefit, Xiao-I focuses on developing technologies that address real-world challenges. By aligning innovation with accessibility, the company continues to expand its reach and impact globally.
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
SOURCE: Xiao-I Corporation
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