Visionstate Corp. Signs MOU with Fluido.ai to Explore AI Business Opportunities
EDMONTON, Alberta - March 9, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) a leading provider of smart facility-management technology, today announced that it has signed a Memorandum of Understanding (MOU) with Fluido.ai, a prominent provider of artificial-intelligence solutions. The MOU outlines the intention of both companies to explore mutually-beneficial business opportunities related to artificial intelligence (AI).
Through this partnership, Visionstate and Fluido.ai plan to collaborate on research and development projects aimed at exploiting the power of AI to enhance the capabilities of Visionstate's existing product offerings. This may include developing new AI-powered features such as machine learning for Visionstate's flagship WANDA™ platform, which leverages Internet of Things (IoT) technology to monitor and analyze restroom-usage data in real time.
"We are thrilled to be partnering with Fluido.ai to delve into the exciting possibilities of AI technology," said Shannon Moore, President of Visionstate IoT Inc. "As we continue to innovate and expand our smart facility-management solutions, we believe that AI has the potential to greatly enhance our proficiencies and provide even more value to our customers."
"We are excited to be working with Visionstate to explore the ways in which AI can help to improve efficiencies and reduce costs," said Wessam Gad El-Rab, CEO of Fluido.ai. "We believe that this partnership has the potential to bring AI applications to a broad range of industry sectors."
Along with enhancing the capabilities of WANDA™, the two companies are collaborating on bringing to market conversational AI for physical locations such as retail, hospitality, and building services. In this respect, AI is poised to dramatically change the way in which on-site customer service is delivered.
According to industry estimates, applications involving artificial intelligence will reach $407 billion by 2027 and is already a $200 billion-a-year sector.
About Fluido.ai
Fluido.ai is an Edmonton, Alberta-based AI company that has created a Conversational AI-technology "chatbot" for the restaurant industry and for the retail industry. The chatbot can work by text (where the customer types their questions and answers using a keyboard) or with a voice interface. The Fluido.ai chatbot also takes payments. In addition, Fluido.ai has developed a recommendation engine that is currently being used by a US coffee chain. Visit our website at www.fluido.ai
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Kathy Chapman
Tel: 416-868-1079 x 234
Email: kc@chfir.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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