Toronto, Ontario–(Newsfile Corp. – April 22, 2024) – Xigem Technologies Corporation (CSE: XIGM) (FSE: VZ6) (“Shigem” or “company), celebrates the enduring strength of the global used car market and the role digital technology plays.
Given our previously announced acquisition of EchoDigital, Xigem’s AI-powered car shopping platform, we believe Xigem is ideally positioned to benefit from the increasingly dynamic global used car market. Masu.
According to The Brainy Insights, the global used car market is valued at approximately $1.9 trillion in 2022 and is expected to reach approximately $3.3 trillion by 2032. Moreover, according to estimates published by Gitnux, by 2026 more than 10% of the used car market will be sold in the US and Europe, where cars sold through AI-powered digital platforms could be sold through AI-powered digital platforms. . Nearly 20% of used car transactions could be fully digital. The use of AI in the global automotive industry is expected to grow at a CAGR of approximately 24.5% between 2020 and 2026, with up to approximately 20% of used car transactions to be fully digital by 2035 It is said that there is a possibility.
EchoDigital is a SaaS-based platform that uses proprietary AI to seamlessly generate leads from traditional sources. EchoDigital AI evaluates and qualifies prospects, determines their psychological fit, and matches them with the best qualified customer service/sales representative (“CSR”) to complete the sale. Prior to our acquisition, and as previously announced, since then, EchoDigital has had a proven track record in the automotive sales sector. EchoDigital is easily extensible and customizable and can be applied to nearly any CSR-dependent sales system in a variety of industries, and has the potential to be applied to our other technologies as well.
In accordance with continuous disclosure requirements, Xigem Technologies Corporation plans to announce first quarter financial results by May 30, 2024.
sauce:
https://www.thebrainyinsights.com/report/used-car-market-13959
https://gitnux.org/ai-in-the-used-car-industry/#:~:text=EVOLUTION%20automotive%20industry.-,Digital%20platforms%20that%20apply%20AI%2C%20like%20Vroom% 20and%20Carvana%2C%20saw, sales%20throughout%20the%20year%202020.
About Xigem Technologies Corporation
Founded in Toronto, Ontario, Xigem is a major player in the emerging multi-trillion dollar remote economy with software that can improve the capabilities, productivity and overall remote operations of businesses, consumers and other organizations. We aim to become a technology provider. Our patented technology, iAgent, our unique peer-to-peer mobile payments app, FOOi, and our SaaS automotive shopping platform, EchoDigital, give organizations, businesses, and consumers the tools they need to succeed in a huge number of businesses. is intended to provide. We aim to aggregate a portfolio of innovative technologies that can disrupt traditional business models.
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Further information
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The market data contained in this press release is not indicative of, and should not be construed as, an indication of the Company’s future performance.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein are not historical in nature and may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements may be interpreted as “likely,” “plans,” “could,” “anticipates,” or “does not anticipate,” You can identify them by the use of forward-looking terminology, such as “anticipated” and the like. , “budget”, “planned”, “estimated”, “forecast”, “intends”, “anticipates”, “does not anticipate”, or “believes”; It may contain variations of words or phrases such as, or descriptions of specific actions. , an event or result “may”, “might”, “will”, “might”, or “will occur”, “will continue”, “will occur”, or “achieved” It will be done.” The forward-looking statements contained herein include, but are not limited to, statements regarding future market data for the global automotive industry, our future products and performance, and our ability to continue to add innovative technologies to our portfolio. Not limited to these.
The forward-looking information contained in this news release is based on certain assumptions and expected future events. In other words, the Company has the ability to continue as a going concern. the commercial viability and growth in popularity of our applications; our ability to continue to develop and acquire revenue-generating applications; continued approval of our activities by relevant governmental and/or regulatory authorities; continued development of our technology; that we have sufficient funds to continue our operations as planned; Current expected growth of the global automobile industry. and the continued growth of the company as a whole.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. There is a possibility. the automotive industry and/or other industry groups or subsets related to our business; the uncertainty of predicting our ability to compete with other participants in the industries in which we operate; the possibility that we will be unable to continue as a going concern; risks associated with Software-as-a-Service (“SaaS”) and the technology industry generally; increased competition in the SaaS and technology markets generally; the possibility that our product offerings may become unavailable in the future; risks related to potential governmental and/or regulatory actions regarding our activities; risks related to the potential collapse of the value of SaaS services and the SaaS market; risks related to our ability to generate profits; our inability to add innovative technologies to our portfolio; If we do not have sufficient financial or other resources necessary to continue our business as planned; risks related to market demand for our products; Additionally, the market data contained in this press release is not indicative of, and should not be construed as, an indication of the Company’s future performance.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations based on such statements will materialize. Although such information is considered reasonable by management at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. .
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or whether subsequent actual events or the future of such forward-looking statements. We are not obligated to explain any material differences from the information provided. except as required by applicable law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Source: Xigem Technologies Corporation
On behalf of our company:
Brian Kalish, CEO
For more information:
Phone number: (647) 250-9824 extension 4
Investors: investors@xigemtechnologies.com
Media: media@xigemtechnologies.com
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