As more businesses around the world seek solutions to address unreliable staff and reduce excess payroll expenses, artificial intelligence company UNITH (ASX: UNT) is solving all of these problems for them, signing its most clients in a single quarter to its Digital Human platform.
Driving increased commercial activity has been tech advancements made in the platform which can generate digital humans that converse in real time with GPT technology. Highly valued by customers is the fact these digital humans can work 24/7 and converse via artificial intelligence in many different languages.
The engine behind the Digital Human platform has been improved to provide life-like reactions during real-time conversations, recently. Showcasing its capabilities, UNITH introduced three digital humans on its website during the September quarter. The demonstrations, according to CEO Idan Schmorak, were pivotal in gaining a surge of interest in the platform from prospective customers which have reached out to UNITH.
“Initial feedback from the three digital humans we showcased publicly has been overwhelmingly positive, both from the public as well as from prospective clients,” said Schmorak.
Those three digital humans were launched in August, while the Company enjoyed its most fruitful quarter since commercialising the platform in 2022 having signed four new clients as well as a sales partnership with fellow AI company, Holoconnects which will add UNITH digital humans to their suite of products.
Among those new clients that have engaged digital humans to optimise their operations are global lottery platform AZBillions, the Alliance for Public Health, insurance company Esureing and medtech company Respiri (ASX: RSH).
While the former three of those aforementioned clients had been previously announced, the addition of Respiri offers intrigue into a potential expansion of healthcare services for UNITH. The first digital human to be deployed to Respiri will be a company representative for their investor relations website, but Respiri’s broader opportunity within its business also beckons.
Specialising in remote patient monitoring (RMP) technology, success from this website integration can potentially open up broader applications of digital humans for Respiri through nurse call integration with their technology.
Enterprise contracts remain the most scalable opportunity for UNITH’s digital humans but that has not stopped the Company targeting growth from its B2C Subscription division which markets a variety of conversational AI apps around the world. Through these apps, Bedtime Stories, AstroVIP and AI History, users have been interacting with digital humans en masse with UNITH having recently eclipsed 500,000 total users.
“Our B2C Subscription division continues to perform strongly,” said Schmorak.
“Bringing the customer acquisition activities in-house together with new AI-Based products using our Digital Human technology is delivering material results, with new subscriber numbers up and retention rates improving, resulting in revenue growth of 24.5% on the prior year.”
Included in this recent growth was the expansion of their B2C Subscription products into Kenya after securing network approval from Kenyan telecom Safaricom (NSE: SCOM), making the apps now available to users in 18 markets around the world who pay a subscription fee (approx $3 to $5 per week) to use the apps.
For the quarter ended 30 September 2023, UNITH reported $1 million in customer receipts but net cash outflow of $1.2 million. These outflows were attributed to higher marketing expenses as part of the B2C Subscription’s restructure that has brought customer acquisition in-house. UNITH anticipates the change will deliver higher revenue and margins in H2 FY24.
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