Brand Engagement Network, Inc. provides conversational AI assistants. The company offers security-focused, multimodal communication, and human-like assistants. Its AI assistants are built on proprietary natural language processing, anomaly detection, multisensory awareness, sentiment, and environmental analysis, as well as real-time individuation and personalization capabilities. It serves the automotive, healthcare, and other industries through direct sales force and channel partners. Brand Engagement Network, Inc. was formerly known as Blockchain Exchange Network Inc. and changed its name to Brand Engagement Network, Inc. in April 2023. The company was founded in 2018 and is based in Jackson, Wyoming.
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Here are 1-3 brief analogies to describe Brand Engagement Network (BNAI):
- Salesforce for AI-driven customer conversations.
- ChatGPT for personalized brand-customer engagement.
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- AI Conversational Platform: A comprehensive enterprise-grade platform for developing, deploying, and managing AI-driven conversational agents and virtual assistants.
- Digital Employee Solutions: AI-powered applications that serve as virtual assistants, automating customer service, sales, marketing, and internal business operations for various industries.
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Brand Engagement Network (BNAI) Major Customers
Brand Engagement Network (BNAI) primarily sells its AI-powered conversational assistant services to other companies (B2B model).
According to its filings with the U.S. Securities and Exchange Commission, including its Form 10-Q for the quarter ended March 31, 2024, BNAI generates a substantial portion of its revenue from a limited number of customers. For instance, two customers accounted for approximately 75% of total revenue for the three months ended March 31, 2024.
However, the names of these specific major customer companies are not publicly disclosed in these official company reports or other readily available public statements. Therefore, based on publicly available official disclosures, the specific names of Brand Engagement Network's major customers cannot be identified.
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Janine Grasso Interim Chief Executive Officer
Janine Grasso was appointed Interim Chief Executive Officer of Brand Engagement Network (BNAI) effective July 2025. She brings over two decades of experience in technology leadership, having served as Head of the Global Partner Ecosystem at DocuSign until early 2025. Previously, Ms. Grasso was Vice President of Business Development at Verizon from 2019 to 2023, where she established and led a new business development organization. She also spent 20 years at IBM, with her most recent role being Vice President of Blockchain Ecosystem, where she led the IBM Blockchain Strategy and Ecosystem Organization. Ms. Grasso possesses deep expertise in business development, operations, mergers and acquisitions, and scaling emerging technologies and go-to-market platforms.
Walid Khiari Chief Financial Officer and Chief Operating Officer
Walid Khiari was appointed Chief Financial Officer and Chief Operating Officer of Brand Engagement Network, effective November 18, 2024. He has over 20 years of experience in finance, including 15 years as a technology investment banker. Mr. Khiari has advised various software companies, from high-growth startups to publicly traded corporations, on capital raising, mergers and acquisitions, and strategic planning. His extensive background includes roles at prominent financial institutions such as Merrill Lynch, Credit Suisse, Rothschild & Co, and Houlihan Lokey in Silicon Valley. He holds an MBA from the Wharton School at the University of Pennsylvania.
Tyler J. Luck Co-Founder and Board Member
Tyler J. Luck is a Co-Founder and Board Member of Brand Engagement Network. He was previously listed as Acting Chief Executive Officer.
Michael Lucas Co-founder
Michael Lucas is a Co-founder of Brand Engagement Network.
Patrick Nunally Co-founder | Chief Scientist
Patrick Nunally is a Co-founder and Chief Scientist at Brand Engagement Network.
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The Brand Engagement Network (symbol: BNAI) faces several key risks to its business operations and continued viability. These include:
- Poor Financial Health and High Risk of Bankruptcy: Brand Engagement Network exhibits significant financial challenges, including a poor financial strength rating, persistent negative margins, and stagnant revenue growth. The company's Altman Z-Score indicates a high risk of bankruptcy within the next two years. Additionally, low current and quick ratios point to potential liquidity issues. The company reported a substantial net loss and minimal revenue generation, highlighting significant operational inefficiencies.
- Nasdaq Delisting Risk: BNAI has received multiple notifications from Nasdaq regarding non-compliance with listing rules, primarily due to its common stock trading below the required minimum bid price of $1.00. While the company has been granted extensions to regain compliance, failure to meet these requirements, which may involve a reverse stock split, could lead to its delisting from the Nasdaq Capital Market. The company also received a notice for the late filing of a quarterly report.
- Competitive Pressures and Execution Risks in the AI Market: Operating within the rapidly evolving technology sector, BNAI faces intense competitive pressures and the risk of technological obsolescence. There are concerns about the company's ability to differentiate its generative AI solutions amidst rapid technological advancements and the challenge of converting pilot programs into full-scale, revenue-generating rollouts. Expansion into highly regulated industries such as healthcare and financial services also lengthens sales and approval cycles, increasing the risk of expenses growing faster than revenues.
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The rapid integration of sophisticated conversational AI and emotional intelligence capabilities into the dominant advertising and marketing platforms of tech giants such as Google, Meta, Amazon, and Adobe represents a clear emerging threat. These established players have extensive client bases, data ecosystems, and substantial resources to develop and deploy similar or superior AI-powered engagement solutions natively within their widely adopted platforms, potentially rendering specialized standalone offerings like Brand Engagement Network less compelling or even redundant.
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Brand Engagement Network (BNAI) operates in several interconnected and high-growth markets related to artificial intelligence. Their main products and services include conversational AI assistants and human-like AI avatars, which are integral to AI-driven customer engagement solutions and broader AI platforms.
The addressable markets for BNAI's offerings are substantial:
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Conversational AI Market: The global conversational AI market was estimated at approximately USD 11.58 billion in 2024 and is projected to reach around USD 41.39 billion by 2030, growing at a compound annual growth rate (CAGR) of 23.7% from 2025 to 2030. Other estimates place the global market at USD 13.6 billion in 2024, expected to reach USD 151.6 billion by 2033 with a CAGR of 29.16% from 2025-2033. North America is a dominant region in this market, holding a share of over 28.6% in 2024.
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Digital Human / AI Avatars Market: The global digital human market was valued at about USD 31.50 billion in 2024 and is anticipated to reach USD 625.82 billion by 2032, expanding at a CAGR of 45.30% from 2025 to 2032. Another report estimates the global virtual humans market size at USD 43.3 billion in 2023, projected to grow to USD 1,827.65 billion by 2033 with a CAGR of 45.1% from 2024 to 2033. North America leads the global digital human market.
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AI Platform Market / Customer Engagement Solutions Market: The global AI platform market was estimated at USD 14.21 billion in 2024 and is projected to reach USD 251.01 billion by 2033, with a CAGR of 38.1% from 2025 to 2033. The global customer engagement solutions market size was valued at USD 22.34 billion in 2024 and is projected to grow to USD 48.51 billion by 2032, with a CAGR of 10.3%. North America dominated the global AI platform market with a 26.4% revenue share in 2024 and the global customer engagement solutions market with a 40.73% share in 2024.
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Brand Engagement Network (BNAI) anticipates several key drivers for its future revenue growth over the next 2-3 years, primarily centered around its specialized AI solutions and strategic market penetration.
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Expansion of Conversational AI Solutions in Key Verticals: BNAI is strategically focused on delivering its personalized customer engagement AI, including human-like AI avatars, across specific high-growth and regulated industries. The company has highlighted expansion into the automotive, healthcare, and financial services sectors as crucial for future revenue, citing a global deal with Swiss Life and expansion into Mexico as examples of early traction. This includes converting existing pilot programs into scalable commercial agreements.
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Strategic Partnerships and Commercial Acceleration: The company is leveraging strategic partnerships to expand its customer base and accelerate commercialization. Management's outlook emphasizes a shift towards driving revenue growth by building on a stronger operational foundation and increasing the capacity to rapidly launch new customers.
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Product Leadership and Innovation in Responsible AI: BNAI continues to invest in advanced product development through its Innovation Lab in Seoul and boasts a significant intellectual property portfolio, including 21 granted and 28 pending patents. The focus is on developing responsible, brand-specific AI and ensuring data sovereignty, which is particularly appealing to enterprises in regulated sectors like healthcare due to compliance with standards such as HIPAA and SOC2. Their proprietary Engagement Language Model (ELM™) and Retrieval-Augmented Generation (RAG) architecture enable highly personalized and secure interactions.
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Share Repurchases
No information is available regarding share repurchases made by Brand Engagement Network (BNAI) over the last 3-5 years.
Share Issuance
- The number of shares outstanding for Brand Engagement Network increased by 48.19% in the last year, reaching 44.88 million shares.
- Historically, the company has funded its operations and capital expenditures primarily through equity and convertible note issuances.
- Brand Engagement Network Inc. was formed in March 2024 through a business combination with DHC Acquisition Corp, which involved a significant issuance of shares as part of becoming a publicly traded entity.
Inbound Investments
- Brand Engagement Network secured a $3.5 million line of credit in June 2025.
- As of the latest filings, 29 institutional owners and shareholders hold a total of 3,241,223 shares in BNAI, indicating significant institutional investment in the company.
- The company's public listing in March 2024 via a business combination with DHC Acquisition Corp represented a substantial inbound investment event.
Outbound Investments
Brand Engagement Network reported long-term investments of $0.0 as of its latest financial report.
Capital Expenditures
- Capital expenditures for Brand Engagement Network were -$26,707 in the last 12 months.
- The company's capital expenditures have historically been funded primarily through equity and convertible note issuances.
- Given BNAI's focus on conversational AI solutions, capital expenditures are primarily directed towards developing and maintaining its proprietary natural language processing, multisensory awareness, and real-time personalization capabilities.
