Flamingo AI updates market on ROSIE contract momentum

Published at Dec 18, 2017, in Technology

With an increased focus on the US and Australian uptake of ROSIE, Flamingo AI Limited’s (ASX:FGO) cognitive virtual assistant, the company have provided an update on the most recent developments regarding its contract pipeline.

ROSIE is now in live evaluation with three clients in the US and Australia, a phase which involves consumer interaction with the platform.

US clients

In regards to its US clients, all are moving through advanced stages of deployment of the ROSIE platform, including one client in an eight-week live evaluation and another in the final stages of deployment and User Acceptance Testing (UAT). Once these evaluations are complete, FGO will provide a further update expected late in the first quarter of 2018.

The company’s relationship with Nationwide is progressing, with the insurer’s customers now interacting with FGO’s Virtual Assistant platform for its Guaranteed Retirement Income product.

Nationwide has also engaged FGO to present at its Executive Officer’s Summit in Ohio, and discussions are now in train with other divisions of the Nationwide business.

Australian clients

In regards to domestic markets, FGO has progressed through security review, integration and UAT in its paid trial with DirectMoney Ltd (ASX:DM1). As part of DirectMoney’s live evaluation, ROSIE will be used to guide customers through secured and unsecured personal loan applications.

This development with DirectMoney demonstrates FGO’s ability to expand the platform beyond the insurance sector, to be applied more broadly in financial services.

A paid trial continues with major Australian client AMP, as well as CHUBB Asia Pacific, with feedback so far all being very positive.

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

Asian clients

In terms of FGO’s Asian market penetration, the company has signed a services agreement with the MetLife Innovation Centre Pte Ltd in Singapore.

The agreement stipulates a fee paid by Metlife to complete a collaborative process of determining use cases and business opportunities for FGO’s Artificial Intelligence in MetLife’s online direct business. Deployment of the platform is expected in early 2018.

FGO’s CEO, Dr Catriona Wallace, spoke at the Pacific Insurance (PIC) Conference on 22 November generating additional interest from Asian insurance companies.

According to the company, feedback across the board has been highly positive to date, and the company is in discussions with several clients relating to a shift from live evaluation to Monthly Recurring Revenue arrangements.

Further, FGO continues to build its strong sales pipeline across all three regions. It was a key participant in the AI World Conference, which attracted over 2500 delegates in Boston (11-13 December). The company anticipates its attendance at the conference will result in a further boost to its client base in the US.

FGO remains in a supportive partnership with the US-based Clarion Group, which has historically been an excellent source of sale and contract leads for FGO. Wallace conducted several sales meetings with Clarion representatives during a trip to the US this month, with the company also announcing it would be expanding its sales teams in both the US and Asia Pacific.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!