Xiao-I (US:AIXI) Prnewswire·2024-09-05 13:45Core Viewpoint - Xiao-I Corporation projects a 25% increase in revenue for the fiscal year ending December 31, 2024, expecting approximately $73 million compared to $59 million in 2023, driven by successful AI technology deployment and a strategic focus on profitability [1][2]. Financial Performance - The company anticipates a revenue increase from $59 million in fiscal year 2023 to approximately $73 million in fiscal year 2024, representing a 25% growth [1]. - A reduction in research and development (R&D) expenses is expected, contributing to improved profit margins and a continued reduction in losses [1]. Strategic Focus - The CEO emphasized the maturity and optimization of AI systems, allowing for decreased R&D spending, which aligns with the company's strategy to enhance financial performance [1]. - The company aims to leverage refined AI technologies to drive sustainable growth and create long-term value for shareholders [2]. Company Overview - Xiao-I Corporation is a leading cognitive intelligence enterprise in China, offering a range of AI solutions including natural language processing, voice and image recognition, and machine learning [3]. - Since its inception in 2001, the company has developed a diverse portfolio of cognitive intelligence technologies applicable to various business cases, promoting industrial digitization and intelligent transformation [3].