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Visionstate Corp (2)
Symbol VIS
Shares Issued 106,490,935
Close 2022-01-25 C$ 0.04
Market Cap C$ 4,259,637
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Visionstate rolls out ViCCi 2.0 customer service kiosk

2022-01-27 11:58 ET - News Release

Mr. John Putters reports

VISIONSTATE TAPS CONVERSATIONAL AI TECHNOLOGY TO LAUNCH NEW VICCI 2.0 CUSTOMER SERVICE PRODUCT

Visionstate Corp. has confirmed the soft launch of its new ViCCi 2.0 customer service kiosk powered by state-of-the-art conversational chat bot artificial intelligence (AI). The company is targeting the 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 chief executive officer John Putters. "Already, most on-line 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 chat bots. 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 upselling consumers on products and services, similar to the on-line experience," Mr. Putters explained.

"Together, Fluido.ai AI and the Visionstate customer service kiosk enable conversational voice commerce in the retail industry," explained Fluido.ai chief executive officer Wessam Gad El-Rab. "Fluido.ai eliminates physical interaction with digital kiosks and personalizes 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 per cent 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 work force and limit customer interactions. With the advent of conversational AI-powered chat bots, physical retail stores are now able to deliver the same level of service that customers were accustomed to before," stated 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 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 will continue to innovate, reduce environmental impact and transform consumer experiences.

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