9th Oct 2024 14:23
(Alliance News) - Cykel AI PLC on Tuesday said it has appointed Co-Founder Ewan Collinge as chief executive officer, effective immediately.
The London-based technology company, which specialises in artificial intelligence, last week on Thursday announced that now-former CEO Jonathan Bixby reduced his stake in the company to 7.5% as at October 1, from 15.2% before.
On September 30, Cykel announced the development of AI agents for next-generation business automation, building upon the company's experience in AI automation.
"Cykel's solutions demonstrate that AI automation is not limited to any single sector, but rather offers enormous potential for businesses across the economic spectrum. The introduction of AI agents is set to further expand Cykel's capacity to serve these and additional industries, providing tailored solutions for each sector's unique challenges," the company said.
On September 26, Cykel reported a partnership with Legal-Pythia LLP, a legal tech firm, aimed at revolutionising the latter's workflow and operational efficiency.
"We are thrilled to embark on this transformative journey with Cykel AI. This collaboration represents a pivotal moment for Legal-Pythia, aligning perfectly with our mission to create accessible, market-ready legal solutions powered by explainable AI," said Jeremy Bormann, founder of Legal-Pythia.
Finally, on September 23, Cykel posted a sales partnership with Vero Tech, a third-party sales organisation, aimed at expanding Cykel's market reach by leveraging Vero Tech's expertise in creating "superior" leads lists and executing personalised outreach at scale.
"We're thrilled to partner with Cykel AI and bring their groundbreaking AI solutions to a broader market. Our specialisation in converting cold conversations into closed business, combined with our experience in helping international companies establish themselves in the UK, makes this partnership particularly exciting. We're confident that our approach to lead generation and personalised outreach will drive significant growth for both companies," said Kelly Sinclair, founder & CEO of Vero Tech.
Cykel shares fell 2.7% to 5.35 pence each on Wednesday afternoon in London.
By Tom Budszus, Alliance News slot editor
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