Wishpond announces the filing of a patent application for its innovative enhanced state manager technology, which is expected to vastly improve complex conversations with its SalesCloser AI virtual agents by adapting to real-time cues and remembering previous interactions.
VANCOUVER, BC, Jan. 9, 2025 /PRNewswire/ - Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the "Company" or "Wishpond"), a provider of marketing-focused online business solutions, is pleased to announce that it has filed a non-provisional utility patent, entitled Enhanced State Manager In a Virtual AI Representative, for the enhanced state manager technology within its SalesCloser AI ("SalesCloser") virtual AI agents. This technology is expected to improve the ability of AI systems to manage complex, real-world conversations, addressing challenges such as interruptions, tangential topics, and premature conversation endings. This is Wishpond's second patent application related to SalesCloser's virtual AI agents.
The enhanced state manager within SalesCloser utilizes conversational AI technology to dynamically adapt to real-time cues, ensuring a seamless flow of dialogue. This capability is particularly critical in industries such as customer service and therapy, where maintaining context and delivering coherent interactions are paramount. The enhanced state manager leverages both user-defined and system-defined states to offer consistent, tailored, and responsive experiences. Furthermore, it remembers previous interactions, even after interruptions, allowing continuity in dialogue management.
Ali Tajskandar, CEO of Wishpond, commented, "We are excited to file a patent application for the enhanced state manager technology; this marks a significant milestone in our Company's innovation journey. This breakthrough enables our virtual AI agent to handle complex, real-world conversations with a greater level of precision and adaptability. By addressing challenges like interruptions and maintaining context across varied scenarios, the enhanced state manager allows businesses to offer seamless, personalized interactions that improve customer satisfaction and operational efficiency. This patent application further solidifies Wishpond's commitment to delivering cutting-edge solutions that help businesses scale while staying competitive in an increasingly dynamic market."
SalesCloser, Wishpond's virtual AI agent, is designed to support customer interaction across various industries by offering businesses scalable, efficient, and cost-effective communication solutions. Its ability to mimic human-like conversations and adapt to different sectors helps companies reduce operational bottlenecks while enhancing customer satisfaction and retention. With the enhanced state manager at its core, SalesCloser continues to offer highly competitive precision and coherence in managing sophisticated dialogues.
Management Update
In addition to this milestone, Wishpond announces the resignation of Nick Steeves, Vice President of Partnerships and formerly General Manager of Wishpond's subsidiary, PersistIQ, Inc. ("PersistIQ"). His last day with the Company will be January 16, 2025.
Nick joined Wishpond in 2011, and has since held various roles in marketing, customer success, product development, and strategic partnerships. Following Wishpond's acquisition of PersistIQ in 2021, Nick played an instrumental role in integrating PersistIQ into Wishpond's broader suite of products and services.
Ali Tajskandar, CEO of Wishpond, commented, "We are incredibly grateful to Nick for his leadership and dedication throughout the integration process of PersistIQ. His contributions have been invaluable in ensuring a seamless transition and in expanding our product portfolio. With the integration process now successfully completed, we wish Nick all the best in his future endeavors."
Going forward, Wishpond's senior leadership team will oversee strategic partnerships while continuing to drive growth and innovation across all business lines.
Ali Tajskandar Chief Executive Officer Wishpond Technologies Ltd.
About Wishpond Technologies Ltd.
Based out of Vancouver, British Columbia, Wishpond is a provider of AI-enabled, marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company's Propel IQ platform offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion and outbound sales automation capabilities in one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool, an AI Sales Agent and continues to add new AI enabled features and applications. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH", and on the OTCQX Best Market under the ticker "WPNDF". For further information, visit: www.wishpond.com.
Forward-Looking Statements
Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, references to expected results from future operations, future growth of the Company's products and platforms, the future development and increased use of products incorporating artificial intelligence, including SalesCloser and the enhanced state manager technology, and expectations around the outcome of the application for the patent, references to the growth of the Company's product portfolio and future profitability, including whether additional products or features may be developed in the future, and the functionality and timing of such products, financial results or operational activities that may be undertaken by the Company, the results of the Company's cost-savings, research and development and other initiatives, any future acquisitions or other activities done to grow the Company both organically or inorganically, expectations, beliefs, plans, future operations, the impact of broader economic factors including inflation and other general economic risks on the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. Sentences and phrases containing or modified by words such as "expect", "anticipate", "plan", "continue", "estimate", "intend", "expect", "may", "will", "project", "predict", "potential", "targets", "projects", "is designed to", "strategy", "should", "believe", "contemplate" and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including, but not limited to, economic uncertainty and instability as a result of the ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company, risks associated with the failure to obtain the patent applied for and infringement by third parties of the Company's intellectual property and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company's profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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