Official Press Release
VAIOT unveils its first purpose-built virtual assistant, combining AI with blockchain, in effort to digitize business processes across industries
Valletta, Malta – October 2020 – VAIOT, the developer of AI-powered digital services for businesses and consumers, announces that the company secured 5 million euros through seed funding and a private sale of its VAI Tokens. The funds mark a milestone in VAIOT’s efforts to digitize business processes by combining blockchain technology with Artificial Intelligence (AI).
By now almost everyone has tried smart assistants such as Siri and Alexa, usually to help with fairly prosaic tasks. These assistants have not yet, however, made the leap toward being truly useful in business. VAIOT develops purpose-built Intelligent Virtual Assistants (IVA) that allow companies to move processes to AI-powered channels, as well as VAIOT-labeled intelligent virtual assistants delivered directly to consumers. The result is a virtual service channel that enables businesses to utilize smart technologies for business services and an assistant for consumers that transcends the mundane.
VAIOT’s first assistant will service the car insurance industry and is projected to be presented by Q3 2020, but the company aims to expand its technology into the broader market. The solution is built to be easily customized and adjusted to suit almost any industry and a wide set of business processes. Any product or service that is sold or delivered digitally can use VAIOT’s tech to be handled by a dedicated AI virtual assistant that can be accessed by the customers via simple mobile application. The solution will offer a unique digital communication channel between businesses and consumers, and in turn may allow for increased sales, reduced costs, increased customer satisfaction, and more depending on the process the business chooses to digitize. VAIOT’s solution offers a seamless experience, empowering users to communicate with the VAIOT platform in a natural way, and obtain goods and services more efficiently and affordably than before.
VAIOT ultimately plans to take the concept of a smart personal assistant and combine it with the unique skillset and knowledge possessed by lawyers. It aims to build an AI legal assistant for consumers and enterprises, providing legal services, including digital, blockchain-based contracts.
VAIOT’s seed and private sale have allocated close to 30 percent of the VAI Tokens to investors who support the project long-term. This indicates trust in both the project and the team standing behind it, as well as reflecting the viability of VAIOT’s business model, ensuring long term growth. VAI Tokens will initially use the Ethereum token standard and eventually be mirrored on a proprietary blockchain based on Cosmos, with an inter-blockchain bridge solution.
“We are elated to have completed the private sale,” says Christoph Surgowt, CEO of VAIOT. “Armed with this funding, we are equipped to deliver a product that can transform how businesses conduct their processes, and be of tremendous value to consumers. Putting the competency of AI into the hands of businesses and consumers will boost digital transformation across the board.”
“These technologies have massive potential,” says Jacob Kobeldys Lead Developer of VAIOT. “Working with such a talented team on combining AI with blockchain for creating a futuristic product that can transform how we interact with tech, is really a thrilling experience. We are eager to see where this journey will take us.”
VAIOT combines artificial intelligence and blockchain to create new ways of digitally accessing services and securely concluding legal agreements using a natural user interface. VAIOT enables both businesses and consumers to utilize a set of technologies called Intelligent Contracts. It serves as a personal assistant, available on mobile devices via a simple natural user interface providing AI-based legal services. The company also offers a novel, intelligent service-distribution channel that empowers businesses to adapt to modern customers by providing a new way of accessing services. For more information go to www.VAIOT.ai
Christoph Surgowt, CEO
Pawel Andruszkiewicz, COO
Olivier Hance, Ph.D., CLO
Pawel Stopczynski, R&D Director