SHANGHAI, Dec 23, 2019 - (ACN Newswire) - Shanghai Xiao-i Robot Technology Co. Ltd, a leading developer of artificial intelligence (AI) and industry application platforms, is delighted to announce its breakthrough in providing cognitive intelligence-powered enterprise service by entering a strategic partnership with CaoCao Mobility. CaoCao is the first ride-hailing service provider with its entire fleet consisting of electric cars backed by China's automaker Geely. Under the partnership, both parties will work together in optimizing the "AI+ Mobility Brain", building a next-generation ride-hailing experience.

Mr. Max Yuan, the Founder, Chairman and CEO of Xiao-i (Right) and Mr. Kainan Dong, the GM of Caocao Mobility sing the strategic partnership agreement; both parties see the partnership with contribute to rooting AI capabilities in every business workflow of Caocao Mobility.

With the convergence of 5G and artificial intelligence, AI machines will lead the way the third wave of technological transformation in various industries. Xiao-i has remained the leader in enabling traditional enterprises to upgrade conventional business processes and practices through its proprietary artificial intelligence technology. Through this partnership, Xiao-i will leverage its Natural Language Understanding (NLU), cognitive intelligence, and big data analytics capabilities to enable CaoCao to implement more AI-driven applications. This partnership allows more opportunities in AI initiatives/applications by implementing a unified platform to coordinate operations and enhance business process workflow.

The central role of Xiao-i's "AI+ Mobility Brain" allows CaoCao to upgrade across ride-hailing services by improving ride service quality, streamlining operation management, protecting privacy and security, and enabling precision marketing. Xiao-i is poised to assist CaoCao in creating a new industry standard, constructing a more automated, efficient, and intelligent experience for drivers, operators, and more importantly, to deliver a new benchmark throughout the ride-hailing industry.

As the industry leader promoting China's digital transformation, Xiao-i plays an active role in cooperating with industry partners to explore new potentials of AI implementation. Leveraging on its years of experience in driving data transformation and strategic enhancement for enterprise applications, Xiao-i has gradually established itself as the leading AI+ Enterprise Service Platform in China. Xiao-i's proprietary platform allows operator customization on AI initiatives and applications. The construction of this platform sets the focus on unleashing the potential of refining human-machine collaboration, managing data intelligence, reinventing business workflow, and nurturing AI talents. Xiao-i's service platform commits to supporting the smart upgrade and agile innovation of traditional business by providing full-stack value-added service.

According to China's National Internet Development Report 2019, the size of China's digital economy grew to 31.3 trillion RMB in 2018. China's digital economy accounts for 34.8% of the national GDP. The total market output from the disruption of AI and data technologies of the current economy is expected to surpass 40 trillion RMB by 2020. Looking ahead, automation at scale remains insufficient for enterprise sustainability, staying competitive in the digital age leaves a large margin to fulfill. Critical differentiators for corporate entering the next wave of industry shift lies in AI integration. Applications in the work process, dataset, and staff operations need to be smoothly integrated with AI capabilities. Unlocking new digital value with strengthening human-machine collaboration would be the key to success.

Mr. Max Yuan, the Founder, Chairman, and CEO of Xiao-i, said, "The strategic deployment of AI+ Enterprise Service Platform would become a new engine in promoting AI adoption and implementation in scale. We see the new platform as an asset in facilitating technology transfer and industry cooperation with huge potential in promoting the application of cutting-edge cognitive intelligence technologies to new business scenarios, hence empowering the smart upgrade of the industry. By sustaining our first-mover advantage in developing and applying cognitive intelligence, we expect to achieve monetization of this enterprise service business in short term, grasping the business opportunities from digital economy. Looking ahead to 2020, Xiao-i will continuously pursue to reach our visions by unlocking new digital value with the help of cognitive intelligence, unveiling more business scenarios and teaming with the industry in unleashing new market output."

About Xiao-iShanghai Xiaoi Robot Technology Co. Ltd (Xiao-i) is a leading AI company that specializes in multilingual natural language processing, deep semantic interaction, speech recognition, machine learning and other cognitive intelligence technologies. A pioneer in industrial AI applications, Xiao-i was established in Shanghai in 2001 and has developed into a market leader. The company currently serves over 1,000 large enterprises and government organizations and provides its open platform to more than 100,000 small and medium-sized enterprises and developers. Xiao-i has established R&D centers in Shanghai, Guiyang, Nanjing and Hong Kong. The company also launched its Asia-Pacific Headquarters in Hong Kong in 2018 to grow its international presence. Xiao-i's major investors include Alibaba Group, China Everbright and Haiyin Capital. Official website: www.xiaoi.com/en/ LinkedIn page: www.linkedin.com/company/xiaoi/

Business Collaboration and Media EnquiriesMs. Rika Li rika.li@xiaoi.com Ms. Tracy Law tracy.law@xiaoi.com

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