Aumake announced it will develop an artificial intelligence (AI)-based live consumer bank and retail tool that aggregates buyers and sellers in Australia. The proprietary system will add a significant software asset and enhanced capability to Aumake's technical portfolio. To facilitate the development of the Platform, the Company has partnered with AI specialist Ai-Driven Pty Limited (Ai-Driven).

Ai-Driven is a technology company with offices in Australia and in Asia that provides cutting-edge AI solutions to small and medium enterprises globally. The Platform will work by allowing partner merchants and retailers to sign up easily and offer their most in-demand products in a mini online e-store that reflects live stock amounts available. Aumake's retail shopfronts will act as physical collection points or users can also opt in for shipping.

A payment gateway will allow users to transact directly on the Platform with Aumake charging a transaction fee as well as a recurring annual fee for platform use. Aumake's collaboration with Ai-Driven will enable the Company to offer a clear competitive advantage in the AI e-commerce space, presenting with an opportunity for Aumake to progress ahead of competitors who do not have access to the data, significant processing power, resources and exclusive know-how in the space. The Platform will be developed in stages, with Stage 1 to be completed imminently, with an expected `go-live' date in March 2022.

The service agreement with Ai-Driven contains all the usual provisions relating to scope of services, payment, warranties and termination. Aumake will own all associated intellectual property developed by Ai-Driven in relation to this project.