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Visionstate Corp. Signs MOU with Fluido.ai to Explore AI Business Opportunities



Visionstate Corp.
   

Edmonton, AB - TheNewswire - 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

Email: shannon@visionstate.com

Tel: 780-425-9460

 

CHF Capital Markets

Kathy Chapman

Email: kc@chfir.com

Tel: 416-868-1079 x 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) accept responsibility for the adequacy or accuracy of this release.

     

Forward-Looking Statements

 

Certain information set forth in this material may contain forward-looking statements that involve substantial 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 position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of 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 can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.