Ayfie Group AS: Results for the first half of 2023 - Announces commercial launch of AI offering
See also the enclosed separate press release regarding 25000+ active users
(Oslo, 30 August 2023) Ayfie Group AS (Ayfie, OSE:AYFIE) today announces
revenues for the first half of 2023 of NOK 10.9 million as the company ramps up
towards the commercial launch of the new artificial intelligence-driven (AI)
software-as-a-service solutions (SaaS). Providing the Ayfie search engine with
ChatGPT, creating a powerful generative AI offering for corporate data, which
already since mid-July surpasses 25000 active users, Ayfie targets rapid growth
in the legal and financial markets.
"We're excited to announce our commercial launch of the generative AI offering
for corporate data, which the team in record time has built by combining the
proven Ayfie search engine with the ChatGPT capabilities. With more than 25000
active users already testing the platform since mid-July, we look forward to
enter into the commercial stages with powerful solutions for the legal and
financial sectors," says Herman Sjøberg, Chief Executive Officer (CEO) of
Ayfie reported revenues in the first half of 2023 of NOK 10.9 million, following
the change in strategy to pursue the opportunities within combining the Ayfie
search engine with the ChatGPT opportunities in the B2B market. The company
continued to invest in the solutions during the period, and reported a negative
EBIT of NOK 11.5 million (-5.2).
Ayfie provides unified access to all enterprise data, integrating with
generative AI like ChatGPT. Users can ask detailed questions such as 'when does
our office space contract expire?' or 'does our company health insurance cover
dental check-ups?' and receive precise answers. Mid-June this year Ayfie was
highlighted in a Gartner Research publication as one of five vendors within
digital workspace search, including Microsoft, unveiling 'What impact will
Generative AI have on search'.
"Gartner is emphasizing how the integration of search solutions and generative
AI is transforming the way we extract insights enterprise-wide, highlighting
Ayfie, using localized search to support workers in a digital environment," says
Herman Sjøberg, and continues:
"I'm pleased with the strong interest we've attracted from the market, with
25000 registered users joining us in just one month. The seamless performance of
Ayfie's platform, even with this surge, aligns perfectly with our expectations.
Going forward, we're focusing on converting our rapidly increasing base of trial
users to paid services, while intensifying our efforts on partnership-driven B2B
initiatives, which I'm confident will notably expand our market reach," adds
The press release for the milestone of having over 25000 active users is
enclosed, as Ayfie's new data search solutions allow users to effortlessly
initiate searches, refine results, and explore related information. The
solution's advanced AI algorithms, which are integrated with Open AI's ChatGPT,
ensure precision, embedded security and relevance in search results, even across
vast and complex data sets.
Ayfie is hosting a corporate presentation by our CEO, Herman Sjøberg, and CFO,
Lasse Ruud, at 08:00 (CET) today. We would like to invite investors, analysts,
and media to join the webcast using the link:
The first half 2023 report is enclosed.
A recording of the presentation will be made available.
For additional questions, please contact:
- Herman Sjøberg, CEO (+47 926 62 233 / [email protected])
- Lasse Ruud, CFO (+47 930 90 008 / [email protected])
Ayfie | ayfie.com
Ayfie is a leading software provider specializing in data search and generative
AI. With more than 15 years' experience, we have honed our skills in
transforming unstructured data into valuable insights that benefit both large
enterprises, medium businesses, and individuals. In 2023, we took a giant leap
forward by integrating generative artificial intelligence into our platform.
This innovation provides users with a unique way to interact with their data,
creating new, powerful, and actionable insights. Our mission is to help you
extract and generate structured insights from unstructured sources to drive your