Xiao-i (小i机器人, Nasdaq: AIXI), an AI chatbot developer, will release a general-purpose large language model (LLM) at the end of June, in a bid to intensify its focus on AI-driven growth, people with knowledge of the matter said yesterday.
The AI company, founded in 2001, specializes in developing cognitive intelligence solutions based on natural language processing (NLP).
According to Xiao-i, its technologies can be found in “hundreds of” application scenarios, such as governance, finance, customer center service, healthcare, manufacturing, education and more.
It listed in March this year on Nasdaq. The first annual report released by the company following the IPO shows that in 2022, Xiao-i saw a leap in its revenue to US$48.20 million, up 48% year on year.
The rocketing revenue is attributable largely to the surging sales of its SaaS and cloud platform products, as well as technology development services.
Among them, sales of cloud platform products totaled US$25.80 million in 2022, almost five times as much as the US$5.55 million a year earlier and making up 53.4% of the overall revenue.
Meanwhile, technology development services generated US$16.40 million, representing 34.1% of the firm’s total earnings.
A number of Chinese established tech champions and startups have joined the race to roll out their own LLM, with Baidu, Alibaba, SenseTime (商汤科技, HK:00020) and iFlytek (科大讯飞, 002230.SZ) leading the pack.