Vancouver, British Columbia, Jan. 23, 2024 (GLOBE NEWSWIRE) -- AISIX Solutions Inc., (“AISIX” or “the Company”) (TSXV: AISX) (OTCQB: AISXF) (FSE: QT7), an emerging global climate risk and data analytics solutions provider, is pleased to announce its strategic plans for 2024. The Company is focused on a continued commitment to innovation, providing advanced data analysis and comprehensive services to business partners across Canada and globally.
AISIX’s Journey So Far
Over the last six years, AISIX has invested more than $10M in the development of artificial intelligence expertise, innovative research, and proprietary data sets — resulting in a suite of enterprise products capable of supporting clients across the world in an era of changing climate and increased risk.
2023 Achievements
- The Company released a beta version of the Wildfire Risk Dataset to the public, aiming to obtain valuable insights and optimize its performance.
- The Company successfully completed phase 1 of a 2-phase contract for the Canadian government’s Volcanic Risk Reduction project. This milestone marks the first-ever volcanic hazard modelling and risk assessment initiative in Canada.
- The Company made significant changes at the board and executive level, appointing a new CEO with a fresh vision and strategy for the business, aimed at charting a course for growth and success from 2024 and beyond.
- The Company raised additional capital of $1 million, allowing AISIX to further develop its product and product offering.
- Initiated multiple negotiations across various industries with various industry leaders on collaborating to solve and find solutions for reporting and understanding physical climate risks.
The Company would also like to extend their congratulations to Dr. Erik Young for recently earning his PhD. Dr. Young has been with AISIX for the past two years while completing his PhD and thesis on glacier modelling.
AISIX’s Current Status
By focusing the Company’s technology, people, and ecosystem towards organizations facing complex challenges, AISIX gives clients an edge in the climate adaptation race by both identifying risks and uncovering opportunities.
This strategic shift aligns with AISIX's commitment to being an industry leader that provides critical insight and support for mitigating the impacts of climate change. This comes as regulators are moving to require disclosure of climate-related risks in emerging reporting regimes, including the new international IFRS sustainability disclosure standards. In parallel, measuring exposure to extreme weather events is becoming increasingly important to investors.
In June 2023, the IFRS Foundation and the International Sustainability Standards Board released International Financial Reporting Standards (IFRS) S1 and S2. AISIX affirms its commitment as a valuable partner to companies worldwide, aiding them in compliant and standardized sustainability reporting as these standards come into effect.
Currently, AISIX is aligning its expertise with the vital IFRS S1 and S2 standards. These standards are pivotal for organizations in properly disclosing their sustainability practices and environmental impact. Transparency is key for investors, regulators, and stakeholders to assess a company’s sustainability commitments and climate change risks. AISIX believes it is at the forefront in providing the tools and analysis necessary to master these reporting standards transparently.
2024 Strategic Outlook
As 2024 unfolds, AISIX is strategically positioned to redefine risk analysis with advanced solutions for their diverse client base. The Company’s key objectives for the year are:
- Novel Enterprise Tools: Introduction of ground-breaking AI-driven analytics products to provide deeper, more accurate risk assessments.
- Expansion of Services: Broadening service offerings to target new sectors such as insurance, finance, and property management.
- Global Reach: Extending their footprint to untapped markets, particularly focusing on USA and Europe.
- Client-Centric Approach: Enhancing personalized client interactions with the deployment of a new enterprise level UI and UX.
AISIX’s Future Plans
Looking to the future, AISIX is dedicated to leading the way in physical climate risk assessment and reporting. AISIX will continue to enhance their services in line with IFRS S1 and S2, reinforcing the Company’s reputation as a trusted advisor in this critical area. AISIX’s commitment is to deliver accurate, actionable insights that enable their clients to make strategic, responsible decisions.
Unlike traditional financial risk products using simple financial models that ignore climate variables, AISIX implements machine-learning techniques to assess hundreds of socioeconomic and market variables as well as the latest climate models. And unlike climate risk firms that only suggest long-term value-at-risk, AISIX is committed to developing its suite of tools that can support partners facing multiple climate scenarios.
Looking Ahead
In 2024, AISIX is dedicated to elevating risk analysis standards by investing in:
- Innovative Research & Development: Continuous R&D to stay ahead in predictive risk modeling.
- Enhanced Training and Development: Empowering the team with advanced training in emerging risk factors and analysis techniques.
- Client Education and Support: Offering comprehensive support and educational resources to help clients navigate complex risk landscapes.
"Our vision for 2024 is not just about advancing risk analysis technology; it's about empowering our clients with clarity and confidence in their decision-making processes in an uncertain world. We are excited about this journey and are committed to driving positive change in how businesses understand and respond to climate risks. AISIX is not just navigating the present; we strive to shape the future of investment decisions." stated Mihalis Belantis, CEO of AISIX.
For more information about AISIX Solutions and its climate risk solutions, please visit their website, www.aisix.ca or connect on Twitter or LinkedIn.
About AISIX Solutions
AISIX Solutions Inc. is a leading global climate risk and data-analytics solutions provider trusted by organizations seeking a more predictive future. Leveraging the advancements of artificial intelligence, data analytics, and risk assessment, AISIX Solutions is on a mission to provide auditable, explainable, and defensible assessments to help businesses and communities protect their property, assets and infrastructure from climate-related risks. By empowering organizations with real-time insights, AISIX Solutions aims to foster resilience and sustainability in the face of climate change.
For further information:
Mihalis Belantis, Chief Executive Officer
+1 (604) 620-1051
investors@aisix.ca
Forward Looking Statements
Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, the “forward-looking statements”) within the meaning of Canadian securities laws, and is subject to numerous risks, uncertainties, and assumptions, many of which are beyond the Company's control. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward-looking information, including the Company’s expected product offerings, the functionalities of the AI Climate Risk Consumer Interface and the Company’s expected growth opportunities. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, the Company’s ability to obtain capital and credit on reasonable terms, the Company’s ability to compete and the Company’s ability protect its intellectual property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also been assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking statements contained in this news release represent the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any time.
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