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Visionstate Taps Conversational AI Technology to Launch New ViCCi 2.0 Customer Service Product

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EDMONTON, Alberta, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce the soft launch of its new ViCCi 2.0 customer service kiosk powered by state-of-the-art conversational chatbot artificial intelligence (AI). The Company is targeting spring of 2022 for the official launch of the new product at a large Canadian-based shopping centre.

Artificial intelligence is already a multibillion-dollar industry and is now growing substantially in the area of conversational AI. Visionstate is incorporating this technology into its ViCCi 2.0 platform to provide on-site customer service using artificial intelligence. The ViCCi 2.0 platform will have the capability to support a wide range of consumers through its ability to be modified to support various languages.

“The potential application for this new technology is enormous,” explained Visionstate CEO John Putters. “Already, most online retailers providing products or services use AI to address the vast majority of questions a consumer may have. We are now taking this technology to physical locations, using conversational AI as a tool to communicate with consumers and collect important analytics that will help shape retailing strategies.”

The ViCCi 2.0 product originated from a new partnership Visionstate formed in November 2021 with Fluido.ai, a company that specializes in conversational AI using chatbots. ViCCi 2.0 is an evolution of Visionstate’s legacy interactive directories that first hit the market in 2005. At the time Visionstate incorporated rudimentary AI to guide the customer journey and it now leverages new technology to set the standard once again for on-site customer service.

“Although in its early stages, conversational AI is already starting to penetrate conventional brick –and- mortar retailers by leveraging the technology to answer customer-service-related questions, directions to specific locations, and even up-selling consumers on products and services, similar to the online experience,” Putters explained.

"Together Fluido.ai AI and the Visionstate customer-service kiosk enable conversational voice commerce in the retail industry," explained Fluido.ai CEO Wessam Gad El-Rab. “Fluido.ai eliminates physical interaction with digital kiosks and personalises interactions with customers early in their customer journey.”

For Visionstate and its partner Fluido.ai, the opportunity to deploy the technology across the retail sector is significant. Worldwide artificial intelligence (AI) software revenue is forecast to total $62.5 billion in 2022, an increase of 21.3% from 2021, according to a new forecast from Gartner, Inc.

“With the COVID-19 virus in swells and lulls, brick-and-mortar stores were required to reduce their on-ground workforce and limit customer interactions. With the advent of conversational AI-powered chatbots, physical retail stores are now able to deliver the same level of service that customers were accustomed to before,” said IT World Canada Magazine in a recent blog post, describing how conversational AI is disrupting traditional retail.

Visionstate has an extensive customer base in the facility management sector because of its WANDA™ IoT (Internet of Things) product and will be introducing the technology to legacy customers as well as new verticals once ready for launch, anticipated to be in the spring of 2022.

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. Through Visionstate 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.

About Fluido.ai Chatbot

Fluido.ai is a code-free conversational AI (Artificial Intelligence) platform powered by an advanced machine learning and NLP (Natural Language Processing) model which allows businesses to benefit from technology that has been built and “trained” to the unique operational and brand nuances of the business. The chatbot guides the customer’s journey in a safe and engaging way while the AI technology continuously improves the chatbot response as more customers interact with it. The ability of the Fluido.ai chatbot to seamlessly handoff and support the human-to-human interactions is its point of difference.

Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.

To learn more, please contact:

Visionstate Corp.

CHF Capital Markets

Website: www.visionstate.com

John Putters, CEO

Perry Rapagna

Twitter: @visionstate

(780) 425-9460

(416) 868-1079 x 230

Facebook: @visionstate

jputters@visionstate.com

perry@chfir.com

LinkedIn:@VisionstateCorp.

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 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.


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