XNODE INKS MOU WITH IFLYTEK FOR LATTER'S SOUTH-EAST ASIA ENTRY, EXPANSION

MOU Signing between XNode and iFLYTEK representatives. Left: Ms Clara Chen, GM of XNode Singapore; Right: Ms Zhen Zhen from iFLYTEK. (Photo: Business Wire)

KUALA LUMPUR, Nov 5 (Bernama) -- With a market capitalisation of US$19 billion, the publicly listed iFLYTEK Co Ltd, recently signed a Memorandum of Understanding (MOU) with XNode at Pan Pacific Singapore during the iFLYTEK 1024 Global Developer Festival, organised by XNode Singapore and supported by the Singapore Deep-Tech Alliance. (US$1 = RM4.158)

The MOU details XNode’s support to facilitate iFLYTEK’s entry and expansion into South-East Asia markets, according to a statement.

According to XNode Singapore General Manager, Clara Chen, having built global companies from the city state for the last 17 years has taught her a few things, including trying to conquer ASEAN alone is harder than trying to expand into large homogenous economies like China or the US.

“On the other hand, China's tech giants have a huge domestic market and the drive to put themselves on an international stage. In this regard, Singapore’s Internationalisation know-how could hugely benefit innovative Chinese companies and open new frontiers together with them.”

iFLYTEK creates value by easing the burden on teachers and students in schools through teaching students according to their aptitudes. And in healthcare, by providing better, faster responses to medical emergencies.

The simulcast festival had earlier called for entries for its themed challenge, aptly titled ‘A.I. for Intelligent Lifestyle Challenge’. More than 9,000 applications and over 700 delivered projects were received for this global challenge.

The final Top 3 teams are then selected to pitch at the live forum, attended virtually by hundreds of iFLYTEK senior executives, venture capitalists, media, academia, and government representatives.

For the challenge, the Top 3 Teams are Tictag, led by Kevin Quah; Gleematics, led by Ada Lim; and TopView, led by George Tharian.

In addition, iFLYTEK demonstrated their proprietary real-time translation technology to event attendees at Hefei, China, during the live streaming of the Final Pitch and the ‘Smart A.I. Education’ panel discussion.

-- BERNAMA