HEFEI, China, April 26, 2021 /PRNewswire/ -- iFLYTEK, Asia's leading artificial intelligence (AI) and speech technology company, released its 2020 Annual Report highlighting the company's significant growth and record profit fueled by the company's health, education, and technology sectors.
In 2020, iFLYTEK's business performance continued to grow rapidly seeing a 66 percent increase in net profit. The company achieved 29 percent revenue growth and its net cash flow reached a new record, achieving the highest amount in the history of the company. iFLYTEK's education and healthcare businesses each grew 70 percent and 69 percent, respectively.
"iFLYTEK's business performance over the last year demonstrates the strong growth and demand for our artificial intelligence solutions that make the world a better place," said Liu Qingfeng, Chairman and Founder of iFLYTEK.
In addition, iFLYTEK's 2020 Corporate Social Responsibility Report (CSR) details the company's commitment to making the world a better place by preventing and controlling the spread of COVID-19, ensuring greater access to high-quality education and healthcare, and helping to alleviate poverty in rural communities with artificial intelligence.
Preventing and Controlling the Spread of COVID-19
During the COVID-19 pandemic, iFLYTEK deployed its technology and expertise in healthcare and education to help screen and monitor patients and allow students to learn virtually at no cost. iFLYTEK donated medical supplies, personal protective equipment (PPE) and successfully mobilized its international network for additional donations to hospitals in regions that had a high number of coronavirus cases.
Additionally, iFLYTEK partnered with the South Korean technology company, Hancom Group, to launch the joint venture Accufly.AI in South Korea. Accufly.AI launched its AI Outbound Calling System to assist the South Korean government at no cost and provide information to individuals who have been in close contact with or have had a confirmed coronavirus case.
Increasing Access to Quality Education
In the education space, iFLYTEK offered its online teaching system that relies on an intelligent learning network to personalize learning and streamline teaching preparation. Today, the program is used in 38,000 schools nationwide and assists more than 100 million teachers and students. The platform is especially advantageous for children in rural communities who typically do not have access to quality educational resources. The company also continues to expand its AI Education Public Welfare program, which teaches disadvantaged children about the latest AI technology and its applications.
Improving Healthcare Accessibility
iFLYTEK continued to grow its open platform program which provided 50 million voice services per day for the visually impaired, hearing-impaired and other public welfare groups in 2020. iFLYTEK also certified more than 1,200 developers to develop applications for public welfare groups to encourage innovation and advancement in technology so technological progress can benefit a wider variety of people.
Alleviating Poverty in Rural Communities
Through the company's language poverty alleviation project, iFLYTEK helps to reduce the language barrier facing many ethnic minorities who do not speak Mandarin Chinese. By providing the Language Poverty Alleviation App to minority populations in China, iFLYTEK helps to eliminate communication and economic inequities.
"iFLYTEK's corporate social responsibility initiatives create a better future for local and global communities," said Qingfeng. "We continue to invest significant resources into the research and development of AI technologies that provide unique practical solutions to improve access to quality education, healthcare, and eradicate poverty."
About iFLYTEK – iFLYTEK is one of the world's leading artificial intelligence (AI) and speech technology companies with approximately 10,000 employees worldwide and annual revenue of approximately $2 billion. For more information, please visit www.iflytek.com/en.