VANCOUVER, BC, May 23, 2023 /PRNewswire/ - Generative AI Solutions Corp. ("GenAI" or the "Company") (CSE: AICO) (FSE: 99L.F) (OTC: AICOF) is pleased to announce that it has incorporated a new subsidiary called GenAI Tobacco Inc. ("GenAI Tobacco") of which GenAI holds 80% of the equity interest.
GenAI Tobacco was incorporated with the intention of building a large language model ("LLM") dedicated to harnessing the power of artificial intelligence ("AI") for the tobacco industry. The company intends to launch the LLM tobacco product under the brand name Tobacco Titan™. Using various proprietary and public datasets, in addition to other information, Tobacco Titan™ is being built with the goal of providing, among other valuable intelligence, the following AI-powered information to companies and individuals in relation to the tobacco industry:
- Product information: Tobacco Titan™ could provide detailed information about different tobacco products, including their ingredients, manufacturing process, and flavor profiles, enabling companies and adult users to inquire about specific brands, types of tobacco, or even explore new products based on their preferences.
- Regulations and compliance: Tobacco Titan™ could assist companies and adult users in navigating the complex landscape of tobacco regulations and compliance requirements, providing up-to-date information on local, national, and international tobacco laws, including age restrictions, packaging guidelines, and advertising regulations.
- Health and safety insights: Tobacco Titan™ could offer educational resources and insights on the health effects of tobacco use, providing information about the risks associated with smoking, alternatives like smokeless tobacco or e-cigarettes, and tips for quitting or reducing tobacco consumption.
- Marketing and branding support: For businesses operating in the tobacco industry, Tobacco Titan™ could offer assistance in developing effective marketing strategies, creating compelling brand messaging, understanding consumer preferences and trends, and could provide insights into market research, target demographics, and advertising techniques.
- Customized recommendations: Based on the preferences and interests of adult tobacco users, Tobacco Titan™ could provide personalized recommendations for tobacco products, accessories, and related services. By analyzing adult user data and behavior, it could suggest new flavors, brands, or smoking accessories that align with the adult user's tastes and preferences.
Ryan Selby, Chairman and CEO commented "Prior to starting at GenAI, I was the Co-Founder and CEO of Poda Holdings, Inc. ("PODA"), a company dedicated to innovation in the tobacco space. In 2022, we were successful in the sale of our invention in the heat-not-burn category to one of the largest tobacco companies in the world, Altria Client Services LLC, a subsidiary of Altria Group, Inc., for total proceeds of US$100.5 million. See link to press release below:
www.newswire.ca/news-releases/poda-completes-multiparty-sale-of-intellectual-property-assets-for-us-100-5-million-813011841.html
We recognized a need for innovation in the tobacco industry and developed and patented the world's first closed ended cigarette. After the sale, we changed the name of our company to Idle Lifestyle Inc. and paid out a dividend of approximately CDN$68 million to all of the shareholders, representing a premium of approximately 170% to the closing share price prior to the announcement of the sale. See link to press release below:
www.newswire.ca/news-releases/idle-declares-dividends-and-approves-return-of-capital-844038934.html
I have seen the need for innovation and data collection firsthand in the tobacco industry. Through my various contacts at some of the largest tobacco companies in the world, along with various other industry leaders, I believe we can build Tobacco Titan™ into an extremely valuable global enterprise system, providing utility to individuals and businesses alike.
Our goal is to partner with certain companies in the tobacco industry that have access to various proprietary datasets which will give Tobacco Titan™ a competitive advantage based on the uniqueness of the data that is not generally available on the internet. We plan on working with our partners Metachain Technologies Inc. to facilitate the development of Tobacco Titan™ and will finalize our arrangement with them in the coming weeks."
On Behalf of the Board,
Ryan Selby
CEO, Director, and Chairman of the Board
Generative AI Solutions Corp.
Toll-free North America: +1-833-879-7632
Outside North America: +1-406-879-7632
info@genai-solutions.com
www.genai-solutions.com
ABOUT GENERATIVE AI SOLUTIONS CORP.
GenAI is a pioneering artificial intelligence company focused on developing transformative AI-powered tools for businesses and consumers across multiple industries. At GenAI, our mission is to harness the power of artificial intelligence to create transformative tools that benefit businesses and consumers across various industries. Our team of talented AI professionals and engineers are dedicated to developing state-of-the-art AI-based solutions that have broad applicability and can be seamlessly integrated into diverse workflows. By leveraging our expertise in machine learning, natural language processing, and data analytics, we build versatile, high-performance tools that redefine efficiency, productivity, and user experience.
For more information on GenAI, please visit www.genai-solutions.com.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" which may include, but is not limited to, information with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, such as: the Company's expectations with respect to the development of the Tobacco Titan™ Product and the timing thereof; the ability of the Company to achieve the development of the LLM for tobacco; the ability of the Company to commercialize the Tobacco Titan™ Product; the Company's ability to close other strategic acquisitions; the Company's ability to produce artificial intelligence tools and solutions; the ability of the Company to drive growth and profitability for consumers and businesses; and the opportunities for artificial intelligence in healthcare, finance, manufacturing, and logistics industries. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.
Forward looking information involves known and unknown risks, uncertainties and other risk factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include risks related to the inability of GenAI Tobacco to develop the Tobacco Titan™ Product on the expected timeline or at all, increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, financing, risks related to the regulation and oversight of artificial intelligence, capitalization and liquidity risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors change.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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SOURCE GENERATIVE AI SOLUTIONS CORP.
