On 28 January 2019, Artificial Solutions Holding ASH AB, the leading specialist in enterprise-strength conversational AI, announced that it entered into a reverse takeover agreement with Indentive AB (Nasdaq First North: INDEN B) with the intention of a new entity, Artificial Solutions International AB, being listed on the Nasdaq First North stock exchange.
The agreement was approved at Indentive's Annual General Meeting held on 28 February 2019, enabling Artificial Solutions to achieve its aim of listing as Artificial Solutions International AB (Nasdaq First North: ASAI).
First day of trading in the new entity on Nasdaq First North was 12 March, 2019.
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Conversational AI, a form of artificial intelligence (“AI”), allows people to communicate with applications, websites and devices in everyday, humanlike natural language via voice, text, touch or gesture input. It offers an engaging and intuitive way of interacting with technology and is set to revolutionize how humans relate to machines.
Artificial Solutions believes that conversational AI benefits both the user and the enterprise. Users value conversational interfaces because they are fast, intuitive and convenient. For enterprises, conversational AI is effective and offers a way to build a more personalized and engaging customer experience, that in return delivers a wealth of customer information which is highly valuable in growing their business.
As a result, enterprises are increasingly turning to conversational AI solutions to help in all areas where there is communication between humans today. Often referred to as chatbots, bots, intelligent virtual assistants or digital employees, conversational AI is transforming human-computer interaction. For example, in customer service, intelligent chatbots are automating customer queries to free up the workforce for more nonstandard work. Conversational interfaces are transforming the dynamics from “user having to learn the interface” to “the chatbot is learning what the user wants” and are already having significant implications for onboarding, training, productivity and efficiency inside the workplace. In smart-homes, voice-assistants are starting to control household devices and services, and, in the auto-sector, info-assistants are becoming more capable and intelligent, allowing drivers to control features and applications by voice.
Indeed, the diversity and growth in the use of conversational AI means that “conversation” is set to be the next human-computer frontier.
About Artificial Solutions
Artificial Solutions is a specialist in enterprise-strength conversational AI, a form of AI that allows people to communicate with applications, websites and devices in everyday, humanlike natural language via voice, text, touch or gesture input.
Artificial Solutions Holding was founded in Stockholm in 2001. In 2010, Artificial Solutions Holding embarked on a journey to build a conversational AI platform that can be used by non-specialists to quickly build the world’s most intelligent, humanlike and capable conversational AI applications.
The resulting platform, Teneo, is a multi-award-winning technology that is unique in the market through its enterprise features and positioning. Designed for the global enterprise, Teneo, allows business users and developers to collaborate on creating sophisticated, highly intelligent conversational applications that can run across 35 languages, multiple platforms and channels in record time. Further, the ability to analyse and make use of the enormous quantities of conversational data is fully integrated within Teneo, delivering unprecedented levels of insight that reveal what customers are truly thinking.
Conversational systems built using Teneo cover a wide variety of use-cases, ranging from intelligent customer service chatbots that improve customer experience, driving online sales revenue using humanlike virtual sales assistants and automating fast food ordering through voice-enabled digital employees. They also include new ways of differentiation via intelligent voice interfaces, simplifying technology interfaces using automated conversation and humanlike conversational interfaces for characterization and interactive gaming. Additionally, Teneo is increasingly being deployed in virtual reality and augmented reality scenarios where an artificially intelligent conversational component delivers a more immersive experience.
Headquartered in Stockholm, Sweden, the Artificial Solutions employees comprise of approximately 110 staff from offices in Europe and the USA. The Company delivers solutions to clients across multiple verticals, focusing particularly on blue-chip clients; customers include Shell, AT&T, TIAA, VW, Volvo, Kindred, Medtronic, Vodafone, Telenor and more.
Our Company's History
Artificial Solutions International AB’s (previously Artificial Solutions Holding ASH AB) operating business was founded in 2001, originally as a consultancy focused on customer service optimization and natural language solutions. Starting in Sweden, the company expanded its reach across the Nordic region and then into other parts of Europe, opening an office in Barcelona the following year to cope with the growing demand for natural language-based customer service and marketing projects. Continued business expansion over the following years led to more offices and a wider product capability.
In 2006, Artificial Solutions acquired the Hamburg based German software company Kiwilogic, which had been a supplier of an important part of the software used in Artificial Solutions’ solutions since the start of the Company in year 2001. The acquisition created a business with a full software offering, less dependent on the consultancy related services.
In 2008, Scope invested in Artificial Solutions to fund further expansion and the company built a strong market presence with natural language projects in finance & banking, leisure & transport, retail, utilities, telco and the public sector across 30 countries. Throughout this expansion, the company was able to build a huge data-lake of human-machine language data that was to be later added to and used as an unparalleled source of quality training data to help develop the Teneo Language Resources.
Lawrence Flynn was appointed as CEO in 2010 to drive the next stage of growth, developing the Teneo platform to specifically address increasing demand from blue-chip enterprises and to provide omnichannel, multi-modal, conversational AI solutions in 35 languages. The company pivoted to become a product led software business built around its Teneo conversational AI platform and focused clearly on major global enterprises where the multi-lingual approach, enterprise-strength features and close integration of conversational data throughout the platform helped clearly differentiate the business. During this period, the company developed Lyra, a mobile personal assistant for iOS and Android as a showcase for the Teneo technology.
Over the subsequent years, Artificial Solutions first migrated legacy customers to the Teneo platform and focused on early-adopters in the global enterprise sector to build a strong reference community of Teneo-based conversational AI solutions. It now counts major global brands as its clients in both Europe and the US including Shell, AT&T, VW Group, Vodafone, NTT, TIAA, Volvo and more.
In 2017, Artificial Solutions started to accelerate its partner strategy, targeting major systems integrators and digital agencies, enabling the business to leverage the established C-level relationships of its partners and start to scale both its professional services and sales footprint. Artificial Solutions now counts many of the world’s leading integrators as partners including Accenture, Deloitte, KPMG, Cap Gemini, Wipro, Cognizant, Teleperformance and Sapient Razorfish.
Today, Artificial Solutions is the only vendor focusing exclusively on conversational AI platforms for enterprise. With a mature, proven and patented platform solution for enterprise conversational AI, it has a global network of offices and strategic partners deploying artificially intelligent conversational applications for some of the world’s best-known brands.
Artificial Solutions believes that it is therefore strongly positioned to address the explosive demand from enterprises for “2nd generation” conversational AI solutions.
In 2018, Artificial Solutions Holding successfully completed an issue of 554,268 Preference Share D raising a total of EUR 13.7 million as well as an issue of new bonds to the value of SEK 52 million.
In 2019, Artificial Solutions Holding successfully completed the Reverse Takeover of Indentive, enabling the business of Artificial Solutions International AB to be traded on Nasdaq First North.