JACKSONVILLE, FL / May 18, 2020 / BOTS, Inc. -formerly mCig, Inc. (OTCQB:MCIG) a leading distributor of innovative products, technologies, and services for the global medical cannabis industry – announced today that it has changed its corporate name to BOTS, Inc. The name change reflects the company’s broader advanced technology commitment and its expertise in driving the innovations needed to shape the future of robotic automation management through digital technology and decentralized blockchain solutions.
“The new name – BOTS, Inc. – allows us to emphasize our wide-ranging business objective around changing the way automation is delivered between service providers and businesses, with the goal of increasing access, lowering costs and improving quality,” said Paul Rosenberg, CEO of the Company.
During the economic recovery period related to the coronavirus, small and large businesses will be seeking new software automation solutions to enable business continuity and a safer return-to-work.
Companies want cognitive solutions to make business improvements, enhance existing technologies/processes, helping management make better decisions, and reduce tedious tasks—while repurposing and retraining their human workforce.
Instead of relying on bots that attempt to handle everything automatically, customers will be better served by businesses that find a happy medium between human interaction and robotic process automation.
“Bots and humans—working hand in hand—can form a partnership that benefits employees and their employers,” according to Deloitte consulting research.
The “bots” market size is projected to grow to $9.4 billion by 2024 at a compound annual growth rate (CAGR) of 29.7%.
“Chatbots” (chatbot is a bot application used to conduct an on-line chat conversation via text or text-to-speech) can work in segments such as marketing, payments and processing, and services, but when it comes to revenue, chatbots services currently dominate this sectors market share. According to Lauren Foye, by 2022, banks can automate up to 90% of their customer interaction using chatbots. A survey conducted by Spiceworks showed that 40% of large companies employing more than 500 people plan to implement one or more intelligent assistant or AI-powered chat bots over corporate mobile devices.
According to Adobe, 28% of leading companies use AI for marketing, while 31% plan to use AI in the next 12 months. According to Opus Research, by 2021, 4.5 billion dollars will be invested in chatbots.
While our changed name is already effective in our home state of Puerto Rico, we also applied to FINRA for the symbol change to BOTS and will now apply to have our name similarly reflected in the stock market. We will be implementing this new direction indicated by our name change across the company’s products and services throughout the calendar year 2020 and beyond.
About BOTS, Inc
Headquartered in Jacksonville, Florida, BOTS, Inc (formerly mCig,Inc.) (MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. The Company is committed to drive the innovations needed to shape the future of robotic automation management through digital technology and decentralized blockchain solutions.
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This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.gov and on the Company’s website at www.mciggroup.com.