Treasure Global and Silica-AI Forge Strategic Partnership to Revolutionize AI and IoT Landscape Across Southeast Asia

AI platform to provide additional innovative capabilities in products, including ZCITY

Partnership opens a $26.89 billion market opportunity

NEW YORK and KUALA LUMPUR, Malaysia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“TGL” or the “Company”), an innovative technology solutions provider, today announced, a groundbreaking partnership with Silica-AI (SAI), a leading artificial intelligence or AI technology company driving global industry transformation. This strategic alliance aims to propel AI and IoT innovation across Southeast Asia, leveraging SAI's cutting-edge AI technology and TGL's extensive market reach and expertise.

Southeast Asia stands at the forefront of technological advancement and digital transformation, presenting a ripe landscape for AI and IoT integration. With an anticipated compounded annual growth rate of 17.83% for 2024-2030, resulting in a market volume of US$26.89 billion by 2030, the AI market presents compelling opportunities for both companies to capitalize on.¹

"At Treasure Global, we're dedicated to harnessing the power of AI and IoT to drive innovation and propel businesses into the future. Our partnership with Silica-AI marks a pivotal moment in advancing AI technology across Southeast Asia. Together, we aim to deliver cutting-edge solutions that address the evolving needs of our clients, revolutionizing industries, enhancing operational efficiency, and creating lasting value for our partners and stakeholders," said Sam Teo, Chief Executive Officer of Treasure Global.

The partnership between TGL and SAI offers an array of benefits for businesses in Southeast Asia, including:

1. Personalized Recommendations: By utilizing AI algorithms to analyze customer data and IoT sensors to track real-time interactions, businesses can provide personalized product recommendations tailored to individual preferences.
   
   
2. Smart Inventory Management: IoT sensors in warehouses and stores enable businesses to monitor inventory levels and predict demand, while AI algorithms optimize inventory management processes to minimize stockouts and streamline replenishment.
   
   
3. Predictive Maintenance: Through IoT sensors monitoring equipment conditions and AI algorithms predicting potential failures, businesses can proactively schedule maintenance, reducing downtime and ensuring operational efficiency.
   
   
4. Enhanced Customer Support: AI-powered chatbots and virtual assistants integrated into e-commerce platforms offer round-the-clock customer support, assisting with inquiries, product selection, and order processing.