Brief: Artificial Solutions Initiates Restructuring Program Of Sales And Services
09/12/2020 14:21
Dec 9 (Reuters) - Artificial Solutions International AB
ASAIN.ST :
* THE SWEDISH AI COMPANY, ARTIFICIAL SOLUTIONS, MOVES FULLY
TO
SAAS AND INITIATES RESTRUCTURING PROGRAM OF SALES AND SERVICES
TO ACCELERATE GROWTH
* IS ALSO RESTRUCTURING ITS ORGANIZATION TO BETTER SERVE
QUICKLY
MATURING AI MARKET TO INCREASE GROWTH AND REDUCE RUN RATE
OPERATING COSTS NET AFTER INVESTMENTS WITH APPROXIMATELY 35 MSEK
ON AN ANNUAL BASIS.
* TRANSFORMATION COST OF 6 MSEK IS EXPECTED IN Q4 2020 AND
Q1 2021
* REDUCTION OF NET OPERATING COSTS WILL HAVE A POSITIVE
IMPACT ON
CASH FLOW FROM TODAY WITH FULL RUN RATE IMPACT FROM SECOND PART
OF Q1 2021
* WITH NEW GO TO MARKET STRATEGY, ARTIFICIAL SOLUTIONS
ADDRESSES A
LARGER PART OF CONVERSATIONAL AI MARKET, PROJECTED TO REACH USD
16.2 BILLION BY 2024 (FORTUNE BUSINESS INSIGHTS)
Source text for Eikon: ID:nWkrbRZSdd
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