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VANCOUVER, BC / ACCESSWIRE / May 21, 2024 / Alset Capital Inc. (TSXV:KSUM)(OTC:ALSCF)(FSE:1R60, WKN:A3ESVQ) ("Alset" or the "Company") is pleased to announce that on May 20, 2024, its investee company, Vertex AI Ventures Inc. ("Vertex") has entered into a strategic AI data engineering and automation partnership with Nom Nom AI Inc. ("Nom Nom") in accordance with the terms of a Master Services Agreement between Vertex and Nom Nom (the "Master Services Agreement").
The design and development of Large Language Models ("LLMs"), and other AI products, requires the processing of massive amounts of data. ChatGPT-4, as an example, had 1.76 trillion parameters1. Vertex, led by Niko Kontogiannis, seeks to offer Data Management tools to companies, to improve their customers' business intelligence and ability to innovate.
"This partnership marks a significant milestone for Vertex as we seek to drive innovation in managed data services and AI." said Niko Kontogiannis, Director of Vertex. "Nom Nom's expertise perfectly complements our offerings seamlessly, enabling us to deliver exceptional value to clients. By integrating Nom Nom's patent pending data management technology, we are uniquely positioned to cultivate long-term client relationships by enhancing data quality, security and infrastructure performance."
"Our collaboration with Vertex represents a significant step forward in our mission to revolutionize data engineering, security, automation and AI optimization", said Nam Nguyen CEO of Nom Nom. "By leveraging Nom Nom's proprietary data solutions, Vertex is poised to deliver unparalleled value to businesses, driving innovation and efficiency in today's data-driven world."
Nom Nom is a pioneer in data engineering, security, and automation as a service. Their knowledge and expertise provides innovative solutions that leverage artificial intelligence to streamline operations, reduce operational and capital expenses, and ensure businesses maintain a competitive edge in today's data-rich environment. With data volumes reaching unprecedented levels, the demand for sophisticated analytics and scalable solutions has never been more urgent. Nom Nom's expertise in managing, integrating, and automating vast datasets positions them as a cornerstone in the evolving landscape of data management and artificial intelligence. Nom Nom seamlessly integrates hardware with their software capabilities, granting clients comprehensive access to data insights through their user-friendly interface. Vertex clients will also gain an intuitive interface that enhances their understanding of data.
The partnership between Vertex and Nom Nom is expected to bring forth a myriad of benefits for future clients, including enhanced data observability, insights, optimization of machine performance, and real-time analytics for clients, particularly those utilizing Alset's portfolio companies' AI computing infrastructure. Nom Nom's specialty in data retention and disposition policies ensures data security and compliance, addressing crucial concerns in today's digital age.
The collaboration between Vertex and Nom Nom underscores the transformative power of AI in reshaping industries and driving efficiency. As organizations increasingly turn to automation and AI technologies to eliminate human error and streamline operations, data security remains paramount. This partnership addresses these critical needs, empowering businesses to operate with confidence in a secure and compliant digital environment. Nom Nom will provide a user interface for Vertex's clients, the technology will allow Vertex to optimize its energy consumption and minimize costs. Vertex's future clients will have real-time insights on how much power is being utilized and when. Nom Nom's innovative technology provides detailed analytics and insights to optimize energy, costs, and performance.
On behalf of Alset Capital Inc.
"Morgan Good"
Morgan Good
Chief Executive Officer
About Alset Capital Inc.
Alset Capital Inc. is an investment issuer that is focused on investment in diversified industries such as technology, healthcare, industrial, special situations, operating businesses through both debt and equity using cash resources or shares in its capital. The Company is led by an experienced, entrepreneurial group of executives having a diverse industry and capital markets background.
Alset Capital Inc.'s investment portfolio comprises 49% ownership of Cedarcross International Technologies Inc. and 49% ownership of Vertex AI Ventures Inc.
About Vertex AI Ventures Inc.
Vertex is at the forefront of intellectual property (IP) identification and acquisition, as well as providing AI data management services. The company's mission is to discover and acquire innovative AI intellectual property from early-stage ventures, fueling advancements in artificial intelligence. In the realm of data management, Vertex aims to excel in delivering premier services that harness the power of AI to streamline operations, minimize costs, and secure a competitive edge in the increasingly data-driven world.
The comprehensive suite of services offered by Vertex ensures superior data quality and security, offering advanced observability insights, machine performance optimization, and real-time analytics tailored to AI computing infrastructures. Specializing in data retention and disposition solutions, Vertex addresses critical issues of data security and compliance, setting the standard for safeguarding the integrity and privacy of digital information in today's complex digital landscape.
About Nom Nom AI Inc.
Nom Nom is a pioneer in data engineering & automation as a service. Our knowledge and expertise delivers the best outcomes with artificial intelligence. Our solutions reduce OpEx/CapEx, streamline operations, and ensure a competitive edge. In today's digital landscape, generating an unprecedented volume of data, businesses are in dire need of sophisticated, real-time analytics and adaptable, scalable solutions. Nom Nom emerges as a leader in revolutionizing data management, thanks to our innovative cutting-edge approach. We address the complex challenge of managing, integrating, and automating vast volumes of data for businesses, offering services designed to simplify complex data ecosystems. This crucial shift and urgent need for advanced data management, makes Nom Nom a key partner in the data-driven world and artificial intelligence.
For further information about Alset Capital Inc., please contact:
Morgan Good, CEO and Director
T: 604.715.4751
E: morgan@alsetai.com
Forward-Looking Statement Cautions
Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the perceived benefits of the Master Services Agreement amongst Vertex and Nom Nom, the demand and growth of the AI industry, and the consummation of the transactions contemplated by the Master Services Agreement . These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Alset Capital Inc.
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