Business
Visionstate Corp. Signs Memorandum of Understanding with Fluido.ai to Explore AI Business Opportunities
Edmonton, Alberta – News Direct – Visionstate Corp.
Edmonton, AB – TheNewswire – March 9, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), a leading provider of smart facility management technology, announced today that it has signed a Memorandum of Understanding (LOU) with Fluido.ai, a leading provider of Artificial Intelligence solutions. The MOU outlines the intentions 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 harnessing the power of AI to enhance the capabilities of Visionstate’s existing product offerings. This may include the development of new AI-powered capabilities such as machine learning for Visionstate’s flagship WANDA™ platform, which leverages Internet of Things (IoT) technology to monitor and analyze toilet usage data in real-time.
“We are very excited to partner with Fluido.ai to delve into the exciting possibilities of AI technology,” said Shannon Moore, President of Visionstate IoT Inc. “We believe in our intelligent facility management solutions continue to innovate and expand AI has the potential to greatly enhance our capabilities and bring even more value to our customers.”
“We’re excited to partner with Visionstate to explore how AI can help improve efficiencies and reduce costs,” said Wessam Gad El-Rab, CEO of Fluido.ai. “We believe this partnership has the potential to bring AI applications to a wide range of industries.”
In addition to enhancing the capabilities of WANDA™, the two companies are collaborating to bring conversational AI to market for physical locations such as retail, hospitality and building services. In this regard, AI is poised to dramatically change the way on-site customer service is delivered.
According to industry estimates, artificial intelligence applications 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 developed a “chatbot” using conversational AI technology for the restaurant and retail industries. The chatbot can work via text (where the customer enters their questions and answers using a keyboard) or with a voice interface. The Fluido.ai chatbot also accepts 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 investing in the research and development of promising emerging technologies in the areas of 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 increase customer satisfaction with its state-of-the-art devices that track and monitor guest activity and inquiries. Its intelligent WANDA™ device footprint now extends to hospitals, airports, shopping malls and other public facilities across North America and beyond. By building a collection of synergistic technologies, Visionstate Corp. continue to innovate, reduce environmental impact and transform the consumer experience.
Issued on behalf of the Board of Directors,
“John A Putters”
Visionstate Corp.
To find out more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF capital markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079×234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
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.
Forward-Looking Statements
Certain information in this material may contain forward-looking statements that involve significant known and unknown risks and uncertainties. All statements, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding future financial condition, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint ventures and strategic alliances and collaborations, budgets, Costs and plans and goals of the company or involving the company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements are identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “planned”, “estimates”, “forecasts”, “predicts”, “intended”. “, “aims”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and expressions, or may be identified by statements stating that certain actions “may”, “could” , “should”, “would”, “could” or “will” be taken, occur or be achieved A number of known and unknown risks, uncertainties and other factors could cause actual results or performance to differ materially from future results or performance performance expressed or implied by the forward-looking information These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company’s control including, but not limited to, the effects of general economic conditions, industry conditions and dependence on regulatory approvals. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be inaccurate and undue reliance should not be placed on any forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities laws.
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