KUALA LUMPUR, MALAYSIA / ACCESSWIRE / August 29, 2023 / VCI Global Limited (NASDAQ:VCIG) ("VCI Global" or "the Company"), a multi-disciplinary consulting group focusing on business and technology, recently announced ground-breaking collaborations with Microsoft Azure OpenAI and AdScale.
First, with the Microsoft Azure OpenAI collaboration, VCI's wholly-owned subsidiary, V Galactech Sdn Bhd, will team up with the Microsoft Azure OpenAI platform with the goal of leveraging each firm's respective artificial intelligence (AI) expertise to continue developing business solutions for the Microsoft platform. This allows VCI Global to play a role in further developing the tech landscape surrounding next-gen innovations, such as GPT-4 and Bing Chat Enterprise. VCI Global says it will also utilize Microsoft Azure OpenAI's AI technology for its current and upcoming projects, including the robosale software, which is an automated and AI-assisted sales platform.
"VCI Global is thrilled to be further involved in AI-related innovations and more so, with Microsoft Azure OpenAI. We are ecstatic for this partnership to be up and running as we look forward to transforming how companies engage customers in the dynamic tech landscape where the level of transformation can only be limited by our imagination and creativity. This partnership will accelerate our growth in the AI industry, further strengthening our capabilities to transform the businesses of our clients," said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
Turning to the AdScale collaboration, VCI Global has recently been appointed as an exclusive licensee for the company's AI-powered marketing tools. The exclusive assigned territory covers nine countries including Hong Kong, Malaysia, Indonesia, The Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. The news comes as VCI aims to continue building its AI portfolio of products and services to serve as a key leader across Asia. VCI management says with the territory's combined population of 800 million across those nine countries, the AdScale partnership is estimated to generate "significant earnings" for VCI as early as 2024.
"Firstly, thank you to AdScale for its trust in VCI Global as we are more than happy to share our expertise in the field of AI-enhanced technology. Rest assured this is not the last of our foray in AI-related services as we continue on our aggressive strategy to further fortify our AI-related portfolio. This latest venture will undoubtedly complement our acquisition of LOCUS-T which is already serving over 1,000 clients in this region," said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
VCI has also recently announced collaboration with Treasure Global, Inc. to develop an artificial intelligence-powered travel platform to revolutionize traveling in Malaysia. The platform will be designed to serve as a high-tech portable concierge that can assist travelers with travel activities, exploration recommendations, dining options, and more. The high-tech travel platform will also have a built-in translation function to further assist travelers with enhancing their experience when traveling in Malaysia.
"We believe that global tourism has returned to its pre-pandemic trends, and we are well-positioned to capitalize on the post-pandemic 'revenge travel' phenomenon through our collaboration with VCI Global. This collaboration will create a win-win situation by leveraging our combined resources and expertise. I am confident that it will significantly impact the Malaysian travel industry and bring substantial benefits to both of our businesses," said Sam Teo, Chief Executive Officer of Treasure Global.
On September 19, 2023, VCI Global will begin trading on Upstream after the company announced the dual-listing approval in late August. The dual listing will open up VCI's Nasdaq-listed stock to a global audience, which can trade VCIG shares outside the United States via USDC stablecoins, as well as credit & debit cards, Paypal and USD. Furthermore, all VCI shareholders are slated to receive a commemorative NFT.
In other news, VCI Global subsidiary, V Capital Consulting Limited (VCCL), has been hired as an IPO consultant by Mojo Meta International as the media and advertising company prepares for a potential listing on the NASDAQ stock exchange. The IPO consultancy will produce an advisory fee of $2 million and a 5% allotment of the listing company's fully diluted shares upon successful listing on the NASDAQ.
"I am grateful for the support and belief in our abilities as we continue to gain acceptance by various industries. VCI Global has maintained that AI is the way of the future as it applies to all industries, in this case, the media and advertising industries which have been migrating into the digital age. Global social media digital advertising spending has been projected to grow to the region of USD350 billion per annum by 2026. This is equivalent to an annual growth rate of 12% over the next few years. We are undoubtedly pleased to be able to support MMI through our expertise in AI-enhanced technology and consultancy services as MMI continues to craft strategic digital content for millions of viewers," said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
For more information about the company's products, latest news, and ongoing initiatives, visit https://v-capital.co and https://spotlightgrowth.com/from-microsoft-to-travel-tech-vci-globals-nasdaq-vcig-expanding-ai-horizons/
About VCI Global Limited
VCI Global is a multi-disciplinary consulting group with key advisory practices in the areas of business and technology. The Company provides business and boardroom strategy services, investor relation services, and technology consultancy services. Its clients range from small-medium enterprises and government-linked agencies to publicly traded companies across a broad array of industries. VCI Global operates solely in Malaysia, with clients predominantly from Malaysia, but also serves some clients from China, Singapore, and the US.
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SOURCE: VCI Global Limited
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