HONG KONG, Feb. 21, 2025 /PRNewswire/ — CLPS Incorporation (the “Company” or “CLPS”) (Nasdaq: CLPS), today announced the formation of the CLPS AI Innovation Committee (CAIC). Led by Mr. Raymond Lin, CLPS’s CEO, CAIC is responsible for the strategic planning, implementation, and value realization of artificial intelligence (AI) technologies across the Company’s projects and client deliveries, developing high-quality, efficient, and intelligent solutions.
According to IDC’s report[1], the worldwide spending on AI, including AI-enabled applications, infrastructure, and related IT and business services, is expected to reach $632 billion by 2028. The rapid incorporation of AI, and generative AI (GenAI) in particular, into a wide range of products will result in a compound annual growth rate (CAGR) of 29.0% over the 2024-2028 forecast period. Meanwhile, the China Internet Network Information Center[2] reports that China’s AI industry has reached a core market size approaching RMB 600 billion, indicating a significant transformation of IT services driven by AI.
CAIC leverages cutting-edge AI tools, including OpenAI and DeepSeek, to create an intelligent engineering system that deeply integrates AI into every stage of IT development. This comprehensive approach spans from initial demand analysis and business process restructuring to intelligent solution design, code generation and transformation, automated testing, and ongoing operations. By focusing on AI-driven business process optimization and reengineering, CAIC empowers businesses to achieve successful digital transformation.
CAIC has developed a unique competitive advantage in fintech, particularly in modernizing legacy systems for financial institutions. In a Hong Kong bank’s loan system upgrade project, CAIC used AI to deconstruct legacy code, create a visual representation of program logic, and migrate the system from an undocumented legacy language to Java. This AI-driven approach significantly eased the project’s complexity compared to traditional methods. It successfully addressed the challenges of transforming a “black-box” system and facilitated a modernized architectural upgrade. This successful project demonstrates CAIC’s ability to provide financial institutions with a complete intelligent transformation solution, from code migration and architecture upgrades to business value enhancement.
Mr. Raymond Lin, Chief Executive Officer of CLPS, stated, “In early 2025, CLPS established five key innovation engines: AI, low-code platform, RPA, cloud computing, and big data. CAIC, building upon these engines, will develop our AI application strategy for the next three to five years, focusing not only on optimizing existing processes but also on fundamentally reshaping business logic to ensure close alignment between technology and our business strategies. CAIC will concentrate on cutting-edge technologies such as GenAI, machine learning, and intelligent automation, deeply integrating the CLPS’s RPA technology to create tailored enterprise intelligent solutions for clients in key vertical industries, including banking, wealth management, e-commerce, and automotive.”
About CLPS Incorporation
Headquartered in Hong Kong, CLPS Incorporation is a leading global information technology (“IT”) consulting and solutions service provider, primarily focused on serving global institutions in the banking, wealth management, e-commerce, and automotive sectors. As an IT services provider for a growing network of clients within the fintech and financial services industry, CLPS has expanded its business beyond core IT services, venturing into the loan, e-commerce, academic education, and tourism sectors. Through its diversified offerings, CLPS is committed to providing comprehensive services and solutions for its clients. The Company maintains 19 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Xi’an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining 9 global centers are located in Hong Kong SAR, USA, Japan, Singapore, Malaysia, India, Philippines, Canada, and UAE. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, Instagram, LinkedIn, X (formerly Twitter), and YouTube.
Forward-Looking Statements
Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s expectations of the Company’s future growth, performance and results of operations, the Company’s ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
[1] Data source: Worldwide Spending on Artificial Intelligence Forecast to Reach $632 Billion in 2028, According to a New IDC Spending Guide
[2] Data source: Generative Artificial Intelligence Application Development Report (2024)
SOURCE CLPS
