Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is excited to announce that U.S. Patent and Trademark Office (USPTO) has informed of their decision to issue a patent for its technology to generate three-dimensional (3D) models from two-dimensional (2D) images. This is another patent which the Company believes is pivotal to Nextech3D.ai's artificial intelligence technology as it builds a moat around its 3D model making for ecommerce business with industry expertise and intellectual property; which includes its GPT AI powered 3D model generation. This patent approval reinforces and validates Nextech3D.ai's commitment to increasing shareholder value by investing in 3D-AI GPT patents and solutions while simultaneously generating millions in annual 3D modeling revenue
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Nextech3D.ai Leads 3D Modeling for E-commerce with Generative AI Technology
Nextech3D.ai’s (CSE:NTAR, OTCQX:NEXCF, FSE:EP2) portfolio of products and patents places the company at a competitive advantage, particularly as the advent of ChatGPT brings revolutionary artificial intelligence applications to the forefront of users and investors, according to an article published by The Silicon Review.
According to the article, Nextech3D.ai’s Ai-powered offerings focused on 3D modeling for e-commerce serve a massive market size of about $100 billion out of a $5.5-trillion global e-commerce industry
Nextech3D.ai’s AI breakthrough in 3D modeling allowed it to diversify its 3D/AR businesses such as Arway.ai, Nextech3D.ai, and Toggle3D.ai while continuing to file more patents in 2023, the article said.
To learn more about Nextech3D.ai’s generative AI technology, read the article here.
Nextech3D.ai
Overview
Nextech3D.ai (CSE:NTAR, OTCQX:NEXCF, FSE:1SS) is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for e-commerce. The company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The company also develops or acquires disruptive AI technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out ARway (OTCQB: ARWYF | CSE:ARWY | FSE:E65 ), its spatial computing platform, as a standalone public company on October 26, 2022. The company retains a 49 percent stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D (OTCQB: TGGLF | CSE:TGGL | FSE: Q0C ), an AI-powered 3D design studio aimed at competing with Adobe. The company retains a 44 percent stake with 13 million shares in Toggle3D.As a preferred 3D model supplier for Amazon, Nextech3D.ai has “early access” to introduce its customers’ 3D models to the Amazon marketplace. This makes Nextech3D.ai one of only a handful of companies that can bring their e-commerce customers onto the online retail giant’s platform.
The company also expanded its 3D modeling business to include the gaming and manufacturing industries by partnering with renowned gaming giants such as Electronic Arts, Take-Two Interactive, Nintendo, Activision and Meta.
Nextech3D.ai has experienced rapid growth in its user base and revenue. In 2022, the company’s 3D modeling revenue rose more than 266 percent compared to 2021 revenue. The company also reported a 963 percent increase in users for its Toggle3D platform since its launch in Jan 2023.
Company Highlights
Driving shareholder value by Commercializing Disruptive AI, 3D, AR, ML Technologies
- The company develops or acquires disruptive technologies that are subsequently spun out to shareholders as standalone public companies.
- On October 26, 2022, Nextech3D.ai spun out its spatial computing platform, ARway as a stand-alone public company, retaining a 49 percent stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
- In June 2023, the company launched its second spin-out, Toggle3D, an AI-powered 3D design studio aimed at competing with Adobe. The company retains a 44 percent stake with 13 million shares in Toggle3D.
Diversified Technology Company
- Nextech3D.ai is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence to create 3D experiences for ecommerce.
- The company’s unique AI technology sets Nextech apart from its competitors, allowing it to earn contracts from big companies like Target and Amazon.
- The 3D modeling market is expected to reach US$6.33 billion by 2028, growing by a CAGR of 15.49 percent from US$2.3 billion in 2021.
- Nextech3D.ai offers four unique technologies (ARitize3D, ARway, Toggle3D and Map D) to cater to the needs of small and medium ecommerce and enterprise companies.
- Nextech’s 3D and AR technologies provide spatial computing capabilities, including GPS components, scanners and indoor navigation systems.
- The company’s AR does not require any investment from consumers to put to use and instead works with any device equipped with a camera.
- Nextech has grown rapidly in recent years, reaching US$10.3 million in 2022, increasing the 3D modeling business by 266 percent from 2021, and achieving a 963-percent increase in users for its Toggle3D platform since its launch in Jan 2023.
Leadership Team
- CEO Evan Gappelberg has a positive track record of creating shareholder value for over 20 years and is the single largest shareholder of Nextech3D.ai with a 10 percent stake
- An experienced team of technology innovators leads Nextech3D.ai to further develop and market its unique solutions.
Key Technologies
ARitize3D
ARitize3D is a solution that utilizes artificial intelligence to turn 2D models and CAD files into 3D models that can be viewed in AR. The technology gives companies a platform to enhance their e-commerce enterprise that operates at scale.
Highlights:
- Existing Enterprise Clients: Nextech has industry-leading e-commerce enterprises using its ARitize3D platform, including Amazon, Kohl’s and NAPA.
- Crucial Competitive Advantage: The usage of AI within the ARitize3D platform is a unique offering that disrupts the existing 3D modeling market by providing reduced costs, improved quality and better scalability.
- AI Development Ongoing: The field of AI is rapidly advancing, and Nextech continues to stay at the forefront of its development. The ARitize3D platform is powerful in its current form and the company continues to leverage advancements in AI to optimize scalability.
ARway
ARway is an AI-powered spatial computing platform that provides augmented reality experiences for indoor spaces. The platform allows users to easily create experiences for navigation, tours, information sharing, notifications, advertising, and gamification. ARway leverages the power of mobile devices to create environments that can improve visitor experience, boost employee productivity, increase engagement, create new advertising space, and boost revenues. ARway was acquired in 2021 as a spatial computing platform and has since been further developed by Nextech3D.ai.
Highlights:
- First-mover Advantage in Spatial Computing: ARway gives companies advanced capabilities to provide indoor navigation for events or other large spaces to create a powerful AR experience. Existing clients include the Dubai Mall, Restaurants Canada, and Saudi German Health Group and others.
- No-code and Hardware-free Platform: Companies can adopt ARway without installing hardware, and investing in development or infrastructure management, which can cost hundreds of thousands of dollars.
- Rapid Adoption Driven by Demand for AR: Consumers are starting to understand and experience the benefits of AR. This growing demand powers the continual growth of ARway as more organizations wish to accommodate consumer demand.
Toggle:3D.ai Your 3D Design Studio
Toggle3D is a self-serve platform enabling the conversion, texturing, customizing and sharing of the highest quality 3D models at scale, using CAD files. The platform allows users to rapidly create new models without learning in-depth design tools.
Highlights:
- Significant Competitive Advantage: Toggle3D reduces or eliminates the learning curve in creating 3D models compared to legacy software, such as Adobe. The platform's web-based and collaborative approach is a unique new way for businesses to approach 3D modeling.
- Spin-out Approval in 2023: Successful spinout in June 2023, now trading on the Canadian Securities Exchange under the ticker symbol TGGL.
- Disrupting Existing 3D Modeling Industry: The company’s breakthrough AI and machine learning platform allows manufacturers and design industries to sidestep the training and time-intensive processes traditionally used for 3D modeling and rapidly design and improve new models.
Map D
The company’s cloud-based event management solution strives to transform the US$50-billion event industry. The Map D platform is already generating revenue that is expected to grow throughout 2023.
Highlights:
- Comprehensive End-to-end Management: The platform covers all aspects of event management, including generating interactive floorplans, handling ticket sales, AR activations, booth sales, indoor wayfinding, and a companion mobile app.
- Integrating Technologies to Transform Event Planning with AR: The company’s platform is transforming the established event planning industry by introducing AR experiences and integrating other Nextech technologies, such as ARway and ARitize3D.
Management Team
Evan Gappelberg - Founder and CEO
Evan Gappelberg attained his capital market expertise in the 1990s while working on Wall Street funding IPOs. Notably he was instrumental in funding Take Two Interactive, which has a recent valuation of about $20 billion (NASDAQ:TTWO). Gappelberg is an accomplished entrepreneur with extensive experience in creating, funding and running pioneering start-ups. He has global business experience both as a hands-on CEO and as a public company CEO.
He started as an entrepreneur while on Wall Street where he was co-founder and CEO of EG Products, which he self-funded. While CEO, he went to China to set up manufacturing for the first LED light-up toy which he patented, imported and distributed globally. He secured license deals from Disney, Universal Studios and others while he built a retail national sales channel.
He was also co-founder and CEO of an app development company which created and published over 200 successful apps for both the Apple iTunes store and Google Play store.
He is an accomplished entrepreneur with an expertise in creating, funding and running start-ups, and he has extensive experience both as a hands-on operating executive and well as a public market professional.
Andrew Chan - Chief Financial Officer
Andrew Chan has over 20 years of finance and accounting experience with half of his career serving high-growth, public technology companies. After over a decade in public accounting (including nine years at Ernst & Young), Chan moved into senior finance positions with Real Matters (TSX: REAL) and goeasy (TSX:GSY) – both offering technology solutions for the financial services industry – where he was involved in several financings, transactions and acquisitions with an aggregate value of well over a billion dollars. Chan has successfully integrated and led finance-related functional groups including treasury and banking, corporate reporting and budgeting and was instrumental in forging strong relationships with business unit leaders to enable successful revenue forecasting and delivery.
Reza Davariar - Chief Operating Officer
Reza Davariar is an experienced business strategist and cross-organizational leader with more than 20 years of professional experience across strategy consulting, business operations and sales management. Davariar has a broad range of experience working with executive leadership, reducing internal costs, and establishing methodologies to boost customer satisfaction through successful operational performances, CRM initiatives and KPI targeting.
Hareesh Achi - Head of Product Operations
Hareesh Achi brings with him substantial experience in operational leadership roles. He most recently led Meta's Reality Labs product data operations, where he led the expansion of scaled operations for Meta's Reality Labs product portfolio. Prior to that, Hareesh held a pivotal role at Microsoft, overseeing the multi-billion dollar Bing Ads operations. Hareesh also understands the DNA of Nextech having briefly worked at Nextech during COVID, before being recruited away by Meta.
Nextech3D.ai Receives Notice From USPTO To Be Granted Pivotal AI Patent for Generating 3D Models from 2D images
USPTO has sent a letter to the company stating that the patent will be issued on April 2, 2024. Web reference for the patent :THREE-DIMENSIONAL (3D) MODEL GENERATION FROM TWO-DIMENSIONAL (2D) IMAGES
Nextech3D.ai continues to expand its market share of the swiftly growing 3D model creation market. Across diverse industries, but especially within ecommerce there's a mounting need for 3D product models. As every user transitions from 2D interfaces on phones and computers to increasingly immersive 3D experiences, the demand for superior user engagement escalates. Nextech3D.ai's technology enables effortless transformation of 2D images or content into 3D using user-friendly software tools. With the surging integration of AR and VR technologies in various sectors, the Company sees demand for 3D content and materials continuing to rise for the foreseeable future.
Previously, generating a 3D model entailed laborious processes and human involvement. Yet, with Nextech3D.ai's patented technology, users can swiftly convert a 2D image or CAD model into a fully textured 3D representation within minutes. This streamlined workflow not only enhances productivity but also slashes costs, granting Nextech3D.ai a distinct competitive edge in a large market.
Head of Product Operations at Nextech3D.ai, Hareesh Achi commented, "I am thrilled to safeguard our intellectual property with these patents. It's a testament to our team of exceptionally talented AI engineers and 3D designers who continuously contribute to the development of our groundbreaking products. We are strategically positioned to capitalize on the ongoing evolution of 3D technology in the years ahead.
Nextech3D.ai innovations are streamlining all aspects of 3D for both businesses and customers. Our GPT tools empower users to enhance productivity and swiftly create 3D content."
Previous Patents
In December 2023, Nextech3D.ai announced the grant of a patent by USPTO for 3D model generation from Computer Aided Design (CAD) data.
Link to the patent online at USPTO site: patent # 11823328
This patent enables Nextech3D.ai to increasingly capture a larger share of the rapidly growing 3D model creation business.
See a list below of the Patent Portfolio across Nextech3D.ai's group of companies:
Company | Patent | Date Filed | Status / Issued |
NEXTECH | THREE-DIMENSIONAL (3D) MODEL GENERATION FROM TWO-DIMENSIONAL (2D) IMAGES - covers core AI algorithms for creating 3D models automatically from 2D photos and is the core of Threedy tech | July 2022 | To be issued April 2, 2024 |
NEXTECH | EFFICIENT CREATION OF 3D MODEL AND APPLICATION - covers the virtual assembly line concept that helps scale 3D content creation from 2D photos | March 2022 | Pending |
NEXTECH | MATERIAL ESTIMATION FOR 3D MODELING AND APPLICATION - covers the AI/ML techniques for creating 3D textures and materials automatically from 2D reference photos | March 2022 | Pending |
NEXTECH | AUTOMATICALLY EXTRACTING TILEABLE UNITS FROM IMAGES- describes a method for compressing large textures with regular patterns to significantly reduce the size of the texture files | March 2022 | Pending |
NEXTECH | AUTOMATIC BACKGROUND REMOVAL FOR HUMAN TELEPRESENCE- covers the technologies built into our HoloX app to create holograms without requiring a green screen | May 2023 | Pending |
NEXTECH | THREEDIMENSIONAL (3D) MODEL GENERATION FROM CAD DATA - covers core artificial intelligence algorithms for creating 3D models automatically from 2D photos | March 2022 | Issued |
ARWAY | GENERATING 3D DIGITAL TWIN FROM PROPERTY FLOORPLAN IMAGES FOR NAVIGATION SYSTEMS - covers the framework for generating a virtual representation of a floorplan from floorplan images, in accordance with some embodiments. | March 2023 | Pending |
ARWAY | DEVICE LOCALIZATION BASED ON TWO-DIMENSIONAL (2D) REFERENCE IMAGES - covers integration of visual markers, such as QR codes or other identifiable 2D objects in the physical environment, with an online map database. | June 2023 | Pending |
TOGGLE / NEXTECH | GENERATIVE AI FOR 3D MODEL CREATION FROM 2D PHOTOS USING STABLE DIFFUSION WITH DEFORMABLE TEMPLATE CONDITIONING - creating 3D models from 2D reference photos, either as a whole, or part-by-part by evolving differentiable, deformable templates to convert into 3D parts, conditioned on one or more reference photos of the part. | March 2023 | Provisional filed |
Recent News
- Nextech3D.ai Announces Formation of AI Incubator and AI Acquisition & Development Division With Potential 2024 IPO Spin Out
- Nextech3D.ai Establishes New Business Unit Led by Former META Executive, Targeting Jewelry Industry with GPT AI CAD-3D Models, Blockchain Technology, and NFTs
- Nextech3D.ai Expands AI Tech Team and Doubles Office Space As Demand Increases For GPT AI Platform and 3D Model Production In Hyderabad, India
- Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive
- Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company
- Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results
Sign up for Investor News and Info - Click Here
About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), is a versatile augmented reality and AI technology Company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent Company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB: ARWYF | CSE: ARWY | FSE:E65 ) its spatial computing platform, as a standalone public Company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB: TGGLF | CSE: TGGL | FSE: Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: Nextech3D.ai
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
Nextech3D.ai Announces Formation of AI Incubator and AI Acquisition & Development Division With Potential 2024 IPO Spin Out
Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers announces the launch of its new AI Incubator and AI Development Division, signaling a significant leap forward in its commitment to advancing artificial intelligence technologies. This new venture, set to be spearheaded by a dynamic team of three esteemed AI scientists alongside the visionary leadership of Evan Gappelberg, CEO of Nextech3D.ai, and Hareesh Achi, former Microsoft executive renowned for his pivotal role in digital transformation and technology strategy. This new division marks a major milestone in Nextech3D.ai's growth trajectory and sets the stage for additional potential IPO spin- outs of new AI technology Companies to its shareholders
The AI Incubator and Development Division is established with the mission to nurture AI solutions that will enhance the human experience across various sectors, including education, healthcare, ecommerce, blockchain, retail, and more. This initiative is a testament to Nextech3D.ai's dedication to pushing the boundaries of what's possible in AI and 3D technology integration for its shareholders.
Evan Gappelberg, celebrated for his foresight and innovation in the tech arena, will provide strategic direction and vision for the division. His leadership has already positioned Nextech3D.ai and its two spin outs Toggle3D.ai and ARway.ai as frontrunners in the 3D technology landscape.
Joining him in steering this ambitious project is Hareesh Achi, an ex-Microsoft and META executive whose expertise in AI, digital advertising, and operational efficiency has earned him acclaim in the technology community. Achi's proven track record of leading high-impact teams and his strategic vision for AI applications make him an invaluable asset to the Nextech3D.ai leadership team.
The division's core team of AI scientists, handpicked for their pioneering work and contributions to the field of artificial intelligence, will focus on developing AI-driven technologies and solutions that are not only innovative but also ethically responsible and sustainable.
Katyani Singh, Computer Vision/Machine Learning Scientist who obtained her Masters in Computing Science at the University of Alberta. Her research interests lie in Computer Vision and Deep Learning.
Amir Salimnia, Computer Vision/Machine Learning Scientist, who is an MSc. Computer Engineering graduate from Western University with more than three years of experience developing machine learning.
Omid Alemi, Machine Learning Researcher and Software Engineer, who holds an MSc in Computer Science from the University of Northern British Columbia and a BSc in Software Engineering from the University of Arak and has 3+ years experience working on developing and deploying machine learning solutions for computer vision and 3D asset creation.
This core team of AI scientists will conduct research and development efforts geared towards creating AI tools and applications that empower businesses and consumers alike, fostering a future where technology and humanity intersect seamlessly.
New Path to Innovation and Growth
In a groundbreaking move, Nextech3D.ai has announced that once the AI technologies incubated within the AI Incubator and Development Division reach commercialization, they will be spun out as new public companies as it has done this twice already with Toggle3D.ai and ARway.ai. This strategic approach not only accelerates the path to market for these innovative solutions but also maximizes value for Nextech3D.ai shareholders. Following the successful precedents set by Arway.ai and Toggle3d.ai, shareholders in Nextech3D.ai will receive a stock dividend in these new entities, underscoring Nextech3D.ai's commitment to rewarding its investors and fostering a vibrant ecosystem of technology ventures.
CEO Evan Gappelberg stated, "We are at the cusp of a new era in AI and 3D technology. With the launch of our AI Incubator and Development Division, and our unique approach to commercialization and value creation."
Hareesh Achi added, "It's an honor to join forces with Evan and the incredible team at Nextech3D.ai. Together, we're not just exploring the potential of AI; we're shaping its future, ensuring that the technologies we develop are used to make a meaningful difference in the world. The opportunity to directly reward our shareholders as we grow and spin out these innovations into new public companies is incredibly exciting."
The AI Incubator and Development Division is now actively working on several projects, investing heavily into the future of AI while also looking at possible acquisitions with more innovative solutions and updates expected to be unveiled in the coming months.
Recent News
- Nextech3D.ai Establishes New Business Unit Led by Former META Executive, Targeting Jewelry Industry with GPT AI CAD-3D Models, Blockchain Technology, and NFTs
- Nextech3D.ai Expands AI Tech Team and Doubles Office Space As Demand Increases For GPT AI Platform and 3D Model Production In Hyderabad, India
- Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive
- Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company
- Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results
- Nextech3D.ai's Breakthrough AI Powered Search Engine Able to Deliver a 500% Increase in Productivity
Sign up for Investor News and Info - Click Here
About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB: ARWYF | CSE: ARWY | FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB: TGGLF | CSE: TGGL | FSE: Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: Nextech3D.ai
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
Nextech3D.ai Establishes New Business Unit Led by Former META Executive, Targeting Jewelry Industry with GPT AI CAD-3D Models, Blockchain Technology, and NFTs
Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce, is pleased to announce that it has established a new business unit to target the Jewelry Industry with 3D Models, Blockchain Technology, and NFTs. The initiative will be led by former META & Microsoft Executive Hareesh Achi, who is Nextech3D.ai's current Head of Product Operations. This new business unit will focus on using the GPT AI CAD to 3D texturing platform of its spin-off Company, Toggle3D.ai (OTCQB: TGGLF CSE: TGGL). Toggle3D.ai's technology can convert jewelry CAD files into lightweight, web-friendly 4K 3D quad meshes, then uses AI to texture the jewelry in yellow gold, white gold, or rose gold. After this is complete, the AI photography studio creates stunning lifestyle images before it is published onto the web. Toggle3D.ai intends to license this all-in-one GPT AI platform to global manufacturers, while Nextech3D.ai will be conducting the sales and marketing for this new business unit
The Company's strategic move to license its GPT AI tech is set to remove the traditional barriers of price and volume that have long restricted the accessibility of high-quality 3D modeling technology for e-commerce and other industries. Nextech3D.ai has leveraged its groundbreaking GPT AI powered technology to dramatically slash the cost of 3D models from CAD files to $10 to $20 while producing the highest quality 4K quad mesh photo realistic models, enabling scalability while creating a new highly profitable business.
The Company recently announced the launch of the next era of GPT AI 3D product solutions of proprietary Artificial Intelligence (AI) algorithms which is the foundation of this new business unit which now is combining the power of blockchain technology and Non-Fungible Tokens (NFTs), opening new avenues for revenue and innovation across various sectors, within the jewelry industry. The Company is working at the integration of 3D modeling with blockchain technology and NFTs, focusing on its implications at first within the jewelry sector. This synergy can enhance authenticity, ownership, and engagement in a market increasingly influenced by digital natives driving value to the substantial Global Jewelry Market.
The Company is looking to capitalize on the intersection of GPT AI CAD-3D Models, Blockchain Technology, and NFTs in Jewlery
GPT AI CAD- 3D modeling technology allows designers to create intricate and customizable jewelry designs that can be viewed and modified in real-time, offering personalization and efficiency in production. This digital transformation not only streamlines the manufacturing process but also enables consumers to engage directly with the creation of their jewelry, enhancing the customer experience. Blockchain technology provides a secure and immutable ledger, ideal for certifying the authenticity and provenance of jewelry pieces. By recording the entire lifecycle of a jewelry item on the blockchain, from raw material sourcing through to the finished product, consumers can verify its authenticity and ethical sourcing, The NFTs represent a unique digital ownership certificate for an asset, stored on a blockchain. In the jewelry industry, NFTs can be used to authenticate ownership of both physical and digital jewelry pieces, offering a new level of exclusivity and personalization. For digital jewelry, NFTs open up avenues for consumers to express themselves in virtual spaces, including social media and virtual reality platforms, where digital assets are becoming increasingly valuable.
NFTs for Ownership and Exclusivity
Application and Benefits
- Enhancing Customer Engagement and Loyalty
The integration of 3D models, blockchain, and NFTs enables jewelry brands to offer personalized and immersive shopping experiences. Customers can participate in the design process through 3D modeling, verify the authenticity and history of their purchases via blockchain, and gain exclusive ownership rights through NFTs. This level of engagement fosters a deeper connection between the brand and its customers, enhancing loyalty. - Opening New Markets: Digital and Physical Jewelry
The fusion of these technologies allows for the creation of both physical jewelry pieces and their digital counterparts. NFTs enable the sale and trade of digital jewelry in virtual environments, appealing to Generation Z's increasing presence in these spaces. Additionally, NFTs linked to physical jewelry pieces can enhance the value and desirability of the tangible product. - Addressing Counterfeiting and Promoting Sustainability
Blockchain's record-keeping capability significantly reduces the risk of counterfeiting, ensuring that customers receive genuine products. Furthermore, transparently tracking the sourcing and production process promotes ethical and sustainable practices in jewelry manufacturing, aligning with the values of Generation Z consumers. - Challenges and Considerations
While the potential benefits are significant, challenges such as technological complexity, privacy concerns, and the environmental impact of blockchain technology must be addressed. Education and awareness efforts are essential to facilitate adoption, while ongoing innovation and collaboration will be crucial to mitigate environmental concerns associated with blockchain technology.
The integration of 3D modeling, blockchain technology, and NFTs presents an opportunity for the jewelry industry, particularly in engaging with Generation Z consumers. By offering enhanced personalization, authenticity, and digital experiences, this technological synergy not only meets the unique demands of Generation Z but also sets a new standard for innovation in the luxury goods market. As the industry navigates this digital revolution, embracing these technologies can lead to sustainable growth and a deeper connection with the next generation of consumers.
3D modeling technology significantly enhances value in the jewelry industry through various avenues, particularly in terms of customization, visualization, and production efficiency. Here's a detailed exploration of how 3D models add value:
Enhanced Customization and Personalization
3D modeling allows for high levels of customization and personalization that were previously difficult or impossible to achieve with traditional jewelry design methods. Customers can be directly involved in the design process, selecting materials, shapes, and styles to create a piece that is uniquely theirs. By offering personalized experiences, jewelry brands can significantly increase customer satisfaction and loyalty.
Improved Visualization and Consumer Confidence
With 3D models, customers can visualize jewelry pieces in exquisite detail before making a purchase, including viewing items from multiple angles and understanding intricate designs. This visualization capability is crucial for online shopping, where the inability to physically inspect products can be a barrier to purchase. By providing a realistic representation of jewelry pieces, 3D modeling technology enhances consumer confidence, reducing hesitation and potentially increasing conversion rates.
Streamlining Production and Reducing Costs
From a production standpoint, GTP AI-CAD 3D models streamline the manufacturing process, allowing for rapid prototyping and adjustments without the need for expensive and time-consuming physical samples. This efficiency not only reduces production costs but also accelerates the time-to-market for new designs. Furthermore, the precision of 3D modeling minimizes errors in the production process, resulting in higher quality products and less waste.
Facilitating Omnichannel Experiences
3D models are pivotal in creating seamless omnichannel shopping experiences. They can be integrated into various platforms, from online stores and social media to augmented reality (AR) applications, allowing customers to interact with jewelry pieces in innovative ways. For example, AR apps can enable consumers to virtually "try on" jewelry, enhancing engagement and interactivity across digital channels creating fluid, interactive shopping experiences across all touchpoints.
The Company believes that 3D modeling technology adds significant value to the jewelry industry by enhancing customization and personalization, improving visualization and consumer confidence, streamlining production processes, facilitating omnichannel experiences, and supporting sustainability efforts. As the industry seeks to attract and retain consumers, leveraging 3D models offers a compelling way to meet their expectations for innovation, quality, and ethical consumerism.
NFT's and 3D Models Can Work together to generate revenue:
The combination of 3D modeling and Non-Fungible Tokens (NFTs) presents a novel and exciting opportunity to create and enhance value in the jewelry industry. This synergy not only appeals to traditional aspects of value such as uniqueness and ownership but also aligns with modern consumer trends, especially among digital-savvy generations like Generation Z. Here's how 3D models and NFTs can work together to create value in the jewelry sector:
Digital Ownership and Authenticity
NFTs serve as digital certificates of ownership and authenticity for unique items, stored securely on a blockchain. When applied to 3D modeled jewelry pieces, NFTs can verify the ownership and originality of both physical and digital jewelry items. This digital authentication process adds immense value by ensuring the item's provenance, a critical factor in the luxury goods market where the authenticity and history of an item significantly influence its value.
Exclusive and Customizable Digital Jewelry
3D modeling allows designers to create intricate, customizable jewelry designs that can be minted as NFTs. This opens up a market for exclusive digital jewelry that can be collected, worn in virtual environments, or used as avatars on social media platforms and in virtual worlds. For Generation Z, who spend considerable time in digital spaces, owning unique digital assets is a form of self-expression and status. This exclusivity and customization potential make digital jewelry an attractive investment and fashion statement.
Bridging Physical and Digital Worlds
The integration of 3D models with NFTs enables a seamless connection between physical jewelry pieces and their digital counterparts. Purchasing a physical jewelry item could also grant the buyer ownership of a digital twin represented by an NFT, which can be used or displayed in virtual spaces. This dual ownership model adds value by offering a comprehensive experience that spans both the physical and digital realms, catering to the modern consumer's lifestyle that increasingly blends the two.
Enhancing Customer Experience and Engagement
The use of 3D models and NFTs in the jewelry industry can significantly enhance customer engagement by offering an interactive and immersive buying experience. Customers can participate in the creation of their jewelry through 3D modeling interfaces, making personalized adjustments before finalizing their purchase. The final piece can then be minted as an NFT, providing a new layer of engagement through digital ownership and potential participation in virtual economies. This personalized and interactive process enhances the customer experience, fostering a deeper emotional connection with the brand.
New Revenue Streams and Marketplaces
NFTs enable the creation of new revenue streams and marketplaces for jewelry designers and brands. Digital jewelry pieces can be traded on NFT marketplaces, opening up global markets and attracting new demographics interested in digital fashion and collectibles. Additionally, brands can leverage NFTs to offer limited edition releases, pre-orders, or special collections, creating hype and exclusivity around their products. This not only generates direct revenue but also enhances brand visibility and engagement in digital spaces.
Sustainability and Ethical Consumption
Digital jewelry represented by NFTs offers an eco-friendly alternative to traditional jewelry, which often involves resource-intensive production processes. By creating value in digital items, the industry can cater to ethically conscious consumers, including Generation Z, who prioritize sustainability. Digital collectibles reduce the need for physical materials and the environmental impact associated with mining and manufacturing, aligning with the growing demand for responsible and sustainable consumption practices.
The Company believes that the integration of 3D models and NFTs in the jewelry industry represents a timely forward-thinking approach to creating value, blending traditional craftsmanship with digital innovation. By offering authenticated ownership, exclusive digital collectibles, enhanced customer engagement, and new revenue opportunities, this synergy caters to the evolving preferences of modern consumers. As the digital and physical realms continue to converge, leveraging 3D modeling and NFTs will be crucial for the jewelry industry to stay relevant and thrive in the digital age
Further, the synergy between 3D models and blockchain technology creates value by enhancing authenticity, facilitating secure transactions, protecting intellectual property, streamlining supply chains, and offering customization opportunities. This integration represents a significant step forward in digital innovation, opening up new possibilities for creators, consumers, and industries at large. As these technologies continue to evolve, their combined potential to transform traditional business models and marketplaces will only increase, paving the way for a more secure, efficient, and innovative future which the Company intends to participate in.
Shares for Services
The Company also announces today that in order to manage its cash flow and reduce or possibly eliminate its dependency of raising capital for payroll it has renewed its share purchase warrant program that was originally announced last year, pursuant to which it will issue an aggregate of 6,275,062 share purchase warrants (the "Warrants") to its service providers in connection with their employment and/or consulting arrangements with the Company. Each Warrant will be exercisable to acquire one common share of the Company (an "Underlying Share") at an exercise price of CDN$0.26 for a period of one year. The Warrants will be automatically exercised in equal monthly tranches on a pro rata basis over the term of the Warrants, and the exercise price will be satisfied by the monthly salaries otherwise payable by the Company to the recipients of the Warrants. Upon exercise, the recipients of the Warrants may opt to either receive the Underlying Shares, or participate in a managed sale program to sell the Underlying Shares on the open market and receive the cash proceeds. Any shortfall as a result of participation in such a managed sale program will be funded by the Company.
Bonus Shares
The Company has issued 200,000 common shares of the Company as bonus shares ("Bonus Shares") to certain employees/consultants of the Company. The Bonus Shares are being issued at a deemed price of $0.26 per share for past services rendered. All Bonus Shares issued are subject to a four (4) month and one day hold period.
Recent News
- Nextech3D.ai Expands AI Tech Team and Doubles Office Space As Demand Increases For GPT AI Platform and 3D Model Production In Hyderabad, India
- Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive
- Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company
- Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results
- Nextech3D.ai's Breakthrough AI Powered Search Engine Able to Deliver a 500% Increase in Productivity
Sign up for Investor News and Info - Click Here
About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), is a versatile augmented reality and AI technology Company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent Company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB:ARWYF)(CSE:ARWY)(FSE:E6 ) its spatial computing platform, as a standalone public Company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE:Nextech3D.ai
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
Nextech3D.ai Expands AI Tech Team and Doubles Office Space as Demand Increases for GPT AI Platform and 3D Model Production in Hyderabad, India
Company is Negotiating Major Licensing Deals For its GPT AI 3D Modeling Technology
Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative GPT AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce is pleased to announce the expansion of its AI tech team by doubling its office space in Hyderabad, India, to accommodate its expanding team. The Company is also in negotiations for a major license of its GPT AI 3D modeling CAD to 3D and texturing technology. Nextech3D.ai will continue to supply 3D models to the largest brands and .platforms as it gears up increasing revenue and profit margins by signing licensing deals with global manufactures that have CAD files.3D GPT AI Licensing TechnologyThe Company's strategic move to license its GPT AI tech is set to remove the traditional barriers of price and volume that have long restricted the accessibility of high-quality 3D modeling technology for e-commerce and other industries. Nextech3D.ai has leveraged its groundbreaking GPT AI powered technology to dramatically slash the cost of 3D models from CAD files to $10 to 20 while producing the highest quality 4K quad mesh photo realistic models, enabling scalability while being highly profitable
Evan Gappelberg, CEO of Nextech3D.ai commented, "Our GPT AI technology has the potential to open the floodgates for 3D model adoption in this new AI era. We are negotiating with a number of large manufacturers which produce hundreds of thousands of products annually that want to go 3D but can't afford the traditional cost of $75 to $150/model. We believe that with our new groundbreaking technology enabling breakthrough pricing and scale, that we will land many of these large contracts since the previous friction point has been price and scale." He continued, "AI is transforming our world and how we think about 3D modeling and the AI that powers the production of 3D models for e-commerce."
Nextech3D.ai's spin-out company, "Toggle3D.ai" offers users an intuitive point-and-click interface that revolutionizes the creation of 3D models. By merely importing a CAD file, companies, brands and users can effortlessly use Toggle3D's user-friendly platform to generate 3D models, apply AI-driven texturing, utilize a virtual photography studio, and much more. This platform is especially transformative for the realm of e-commerce, where the virtual photography studio eliminates the need for physical product photography, saving large brands millions of dollars.
A key aspect of this strategic shift is the licensing of Nextech3D.ai's technology to major manufacturers, enabling their own employees to create high quality, 4K resolution 3D product models without requiring specialized skills in 3D modeling. This is game changing as it empowers businesses to harness the full potential of 3D modeling internally, while reducing the 3D model production cost by as much as 80%.
Toggle3D.ai is currently in advanced discussions with a large manufacturer for a contract valued in the seven figures. This not only exemplifies the market's enthusiasm for 3D models, but also signifies the platform's potential to redefine how businesses approach shopping experiences and 3D models for e-commerce.
India Office
Initially announced in September, 2023, Nextech3D.ai moved operations to Hyderabad, India. The focus on high-scale production and cost savings by setting up operations in India has resulted in growing profit margins for the Company and a significant improvement in operational efficiencies. The initiative has been led by the Company's Head of Product Operations, Hareesh Achi, who has over a decade of technology experience as a former Microsoft and Meta executive.
The move to India has created a cash flow positive 3D model division for Nextech3D.ai by optimizing production processes and taking advantage of cost-effective resources in the region. With these initiatives and others, the Company is positioning itself for enhanced profitability for years to come in a rapidly evolving market.
See more details and images of the India Office - click here
Nextech3D.ai employees in Hyderabad, India.
Recent News
- Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive
- Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company
- Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results
- Nextech3D.ai's Breakthrough AI Powered Search Engine Able to Deliver a 500% Increase in Productivity
Sign up for Investor News and Info -Click Here
About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB:ARWYF)(CSE:ARWY)(FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: Nextech3D.ai
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive
Transformative GPT AI Suite of a dozen 3D-AI Solutions To Lead Companies Growth
Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce is pleased to announce it is launching the next era of GPT AI 3D product solutions of proprietary Artificial Intelligence (AI) algorithms. The initiative will be led by former Microsoft Executive Hareesh Achi, who is Nextech3D.ai's current Head of Product Operations. The Company believes that the AI opportunity is in the early stages, and that the shift from 2D to 3D modeling for e-commerce is part of a major multi-decade transformation that is being led by AI. The Company is working on annual enterprise licensing deals for its suite of GPT AI solutions for 3D models and 3D maps
The initial suite includes 12 GPT's:
- GPT 2D image search engine for 3D models that delivers 3D meshes based on 2D images
- GPT text based 3D search engine that takes text prompts to provide a 3D mesh based on description.
- GPT that identifies complexity of a model and estimates cost of making a 3D model based on 2D image.
- GPT 3D model analyzer: classifying model categories, generating textual metadata from 3D models
- GPT that automatically aligns 2D floor maps with 3D scans/point clouds
- GPT that detects walls/floors in a 2D image in our proprietary Decorator tool. This allows changing the color of your room's walls/floors
- GPT that can read a selected portion of a 3D rendering and erase it (Magic Eraser)
- GPT Generating textures and PBR materials from text prompts
- GPT Generating PBR maps from texture/color images
- GPT Texture expansion: expanding a small patch of structured textures into larger, high-resolution textures
- GPT Texture generation form patches: Generating a texture from a small patch for unstructured textures (woods, marbles, etc)
- GPT Generative Rendering: Generating alternative renderings/photos from textured and untextured 3D models using text prompts - a tool for ideating alternative designs -
Evan Gappelberg, CEO of Nextech3D.ai commented, "The age of AI is upon us and we are fully committed to utilizing this transformative technology to advance our business productivity and licensing revenue. Today's launch is only possible due to the years of in-house development of our AI technology, which sits on top of years of the hard work in creating all the data sets that we have produced for some of the largest brands on the planet." He continued, "We are now focused on monetizing this data by using AI algos to create GPT's, which stands for Generative Pre-trained Transformer. ChatGPT is an AI-powered conversational agent that utilizes advanced natural language processing and machine learning techniques to engage in human-like conversations. Nextech3D.ai GPT acts like a co-pilot assisting a 3D artist with our accumulated expertise. We are extremely excited to be part of the AI transformation and by the success of our own GPT's which we use in house on a daily basis, as we now launch these twelve and develop more valuable GPT's in 2024."
Hareesh Achi, Head of Product Operations at Nextech3D.ai commented, "I am thrilled about the exciting developments taking place at Nextech, where we are harnessing the power of our advanced AI technology stack to create innovative 3D GPT tools that significantly enhance productivity and make it easy to create 3D environments that complement the growth of augmented reality and virtual reality marketplaces. In addition to this, we are dedicated to sharing our extensive 3D expertise with both clients and partners alike. It brings me great joy to anticipate the diverse array of 3D creators who will be able to leverage our cutting-edge technology, empowering them to craft extraordinary 3D experiences. This is a testament to our commitment to pushing the boundaries of what is possible in the realm of technology and 3D design with AI and GPT tools."
Hareesh Achi has worked at industry titans MSFT & META for over a decade, and has a deep-rooted understanding of big technology, coupled with extensive experience in building efficient, scalable and profitable technology operations. Mr. Achi most recently led Meta's Reality Labs product data operations, where he led the expansion of scaled operations for Meta's Reality Labs product portfolio. Prior to that, Hareesh held a pivotal role at Microsoft, overseeing the multi-billion dollar Bing Ads operations.
Nextech3D.ai is focused on creating a co-pilot that is 3D centric, using its accumulated 3D expertise and technology which the Company has been developing over the past 5 years as a 3D model supplier for Amazon, Kohls, P&G, Miele, and others.
The suite will offer a series of generative pre-trained transformers (GPTs) the Company has developed, similar to OpenAI. The recent announcement by OpenAI of enabling users to create custom GPTs without any coding requirement has sparked a wave of creativity in various sectors. Similar to OpenAI Nextech3D.ai is creating 3D GPT's itself, which it plans to license to others.
The Company plans to monetize its suite of GPT's by licensing it to the public for general use through a paid subscription, or on a per use basis to use a specific GPT depending on the individual users needs. This has significant revenue potential for the Company as its GPT's can perform a variety of different tasks for various use-cases including 3D modeling, 3D model texturing, AI texture generation, digital floor mapping, 3D decorating, resolution expansion and much more. These GPT's can serve countless functions and job roles including architects, interior designers, 3D modelers, product designing and prototyping, product variations, event organizers, trade show floor plans, and more.
About GPT's
GPT's are engineered to be user-friendly, facilitating their creation without the necessity of programming skills. They can be customized for personal use, exclusive corporate application, or for public utility.
The creation process is intuitive, involving simple conversational commands to impart instructions and knowledge, as well as to select functionalities such as web searching, image generation, or data analysis.
The Company plans to build many of these GPTs that enable users to have 3D expertise at their fingertips turning everyone into a 3D expert. The goal of these is to:
- Reduce the learning curve and enable easier creation of 3D models.
- Provide 3D Expertise at your fingertips for every user who aspires to build and texture 3D models.
- Improve productivity, increase quality and drive revenue growth.
Recent News
- Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company
- Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results
- Nextech3D.ai's Breakthrough AI Powered Search Engine Able to Deliver a 500% Increase in Productivity
- Nextech3D.ai's Breakthrough AI Powered Search Engine Reports an 80% Increase In 3D Modeling Productivity
Sign up for Investor News and Info - Click Here
About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE: 1SS), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB:ARWYF)(CSE:ARWY)(FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: Nextech3D.ai
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
OpenText Strengthens X12 Collaboration to Accelerate the Future of Supply Chain B2B Data Exchange
OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, and X12 the ANSI-accredited standards organization, today announced the renewal of their commercial use partner license agreement. This long-standing collaboration underscores OpenText's commitment to and support for X12 standards across its expansive supply chain network.
"Electronic data interchange (EDI) is a critical foundation that supports how supply chains and businesses function today," stated Muhi Majzoub, Chief Product Officer and EVP, OpenText. "Working with X12 is more than just a collaboration; it's a testament to our joint dedication to continuous innovation and to laying the foundation for a more interconnected and efficient B2B data exchange landscape for the future."
X12 standards play a crucial role in EDI, serving as the primary conduit for businesses across diverse industries, including retail, consumer goods, automotive, high-tech, general manufacturing, and insurance. These standards allow businesses to digitally share vital information seamlessly within and across their operations.
The integration of X12 standards within OpenText's business network solutions improves efficiency, accuracy, transparency, and cost-effectiveness for its customers, contributing to a strengthened supply chain ecosystem.
"We are delighted to join forces with OpenText in advancing the development of X12 standards and derivatives," said Cathy Sheppard , CEO of X12. "Together, we are not just shaping standards; we are fostering a future where technology supports and enhances global operations across the industries we serve."
With the world's largest business network, OpenText connects over 1.1 million trading partners, facilitating the exchange of more than 33 billion EDI transactions annually. As a trusted EDI partner offering robust solutions for seamless business document exchange, OpenText is proud to be formally recognized as an X12 licensing partner with a comprehensive long-term agreement that includes its customers from the past, present, and future.
About X12
X12 , chartered by the American National Standards Institute (ANSI) for more than 40 years, develops and maintains business-to-business data exchange standards to drive business processes globally. X12's diverse membership includes dedicated technologists and business process experts in health care, insurance, transportation, finance, government, supply chain, and other industries. X12's consensus-building forum enables members to meet regularly to develop syntax-neutral data exchange standards collaboratively. With more than 320 published transaction sets, 1,400 data elements, and more than 40,000 codes available for use, the body of X12's work can be used to conduct nearly every facet of business-to-business operations. Learn more about X12 licensing at x12.org/licensing .
About OpenText
OpenText, a global leader in information management, enables organizations to gain insight through market-leading information management solutions, powered by the OpenText Cloud. For more information, visit www.opentext.com .
OTEX-G
View original content to download multimedia: https://www.prnewswire.com/news-releases/opentext-strengthens-x12-collaboration-to-accelerate-the-future-of-supply-chain-b2b-data-exchange-302100198.html
SOURCE Open Text Corporation
News Provided by PR Newswire via QuoteMedia
Cyber Insurance Industry to Experience Above Trend Sector Growth
(TheNewswire)
Vancouver, British Columbia TheNewswire March 27, 2024 - Integrated Cyber Solutions Inc. (CSE:ICS) (FSE:Y4G). Since 2018, the global cyber insurance market has experienced remarkable growth beyond the industry average, with coverage volumes tripling over that time frame. Today, this insurance domain has generated approximately US$13 billion in gross direct premiums by 2022 and is expected to produce an industry compound annual growth rate (CAGR) of 12.3% from 2023 to 2030.
The cyber insurance market refers to the sector within the insurance industry that provides coverage against losses and damages resulting from cyber incidents and cyber-related risks. This type of insurance typically protects individuals, businesses and organizations against various cyber threats, including data breaches, hacking attacks, ransomware, network outages, and other forms of cybercrime.
Similar to conventional property insurance coverage, cyber insurance policies can offer remediation for a range of expenses to replace, substitute and mitigate the costs associated with the loss of property. Some policies may also include coverage for business interruption losses resulting from cyber events.
While the market involves risk managers, cybersecurity experts, and legal professionals who contribute to assessing risks, developing policies, and managing claims, the cyber industry remains relatively unstructured against the more mature sub-sectors. The absence of a secondary market for risk-sharing, lack of a dependable incident record databases, along with the inadequacy of automated tools for risk assessment collectively places the responsibility on the client to accurately self-assess their risk profile.
This presents a significant liability gap that leaves many companies vulnerable—even those who believe they have sufficient protection.
While the cyber insurance industry remains in its infancy relative to traditional insurance realms, Integrated Cyber Solutions is methodically attempting to tame this chaotic and undefined market. It is doing so led by an experienced leadership team who understands its end user needs, while developing a proprietary platform that is comprehensive and intuitive to operate.
More specifically, ICS has adopted an industry first Cyber Rating System. The purpose of this system is to provide a quantifiable system to balance risk between providers and their clients. The system provides the insurers with a real-time tool to constantly evaluate their clients risk score thus significantly eliminating risk exposure. It is dynamic and able to be customized to each situation while providing an experience database of claims performance to allow actuaries the capability to better assign risk.
At the core of ICS' security infrastructure lies a "Generative AI Model" capable of processing and correlating all activity and reporting it in a humanly understandable manner. The output is a weighted risk score measuring client's real-time readiness. We also incorporate emerging industry regulations as well as part of our service as well.
According to Integrated Cyber Solutions CEO Alan Guibord, navigating the landscape for cybersecurity solutions is immensely challenging due to network complexity and budget outlays: "The abundance of choices, coupled with the intricate jargon and complexity, can render the selection process daunting and perplexing. We have built ICS to exceed the cyber security demands of small and medium sized businesses in a foreboding threat matrix environment."
The Cyber Insurance Industry Presents Future Growth Opportunities
The anticipation that the cyber insurance market will surpass the industry average in future growth is rooted in several key factors. Firstly, the landscape of cyber threats is continuously evolving and becoming more sophisticated with the rapid advancements in technology. Consequently, businesses and individuals are increasingly acknowledging the necessity of cyber insurance to shield themselves from potential financial losses resulting from cyberattacks.
Secondly, there is a notable shift in the regulatory environment worldwide towards stricter regulations concerning data protection and cybersecurity. Compliance with these regulations often mandates investments in cybersecurity measures and insurance coverage, thereby propelling the demand for cyber insurance policies.
The heightened awareness of cyber risks is permeating through businesses of all sizes, largely due to the prominence of high-profile cyber incidents in the media. As a result, more organizations are acknowledging the potential financial ramifications of cyberattacks and are turning to insurance as an integral component of their risk management strategies. This growing awareness is contributing significantly to the expansion of the cyber insurance market.
High Profile Incident | Company | Date |
SolarWinds Attack | SolarWinds | Dec 2020 |
Equifax Data Breach | Equifax | Jul 2017 |
Yahoo Data Breaches | Yahoo | Various |
Marriott International | Marriott | Nov 2018 |
LinkedIn Breach | Apr 2021 | |
Capital One Data Breach | Capital One | Jul 2019 |
As the threat and exploitation matrix increases exponentially across the curve, companies with the vision and wherewithal to develop the tools to navigate this growing market present opportunities to investors. Integrated Cyber Solutions is one such company addressing the needs of organizations both large and small..
About Integrated Cyber Solutions
Integrated Cyber Solutions is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors. The Company integrates capabilities from third-party cybersecurity providers, ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber's managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer's environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization.
Contact:
Media Relations Team
email: PR@Integrated-Cyber.com
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. These statements are based on current expectations and projections about future events. Forward-looking statements are often, but not always, identified by words such as ‘anticipate', ‘expect', ‘intend', ‘plan', ‘believe', ‘seek', ‘estimate', ‘will', ‘project', ‘continue', ‘predict', ‘potential', 'target', ‘forecast', ‘budget', ‘goal', ‘may', ‘should', ‘could', or similar expressions. In this press release, the forward-looking statements include, but are not limited to, expectations regarding the implementation of marketing and investor relations services of White Rabbit Projects Pte. Ltd., Sagacity Capital Media, Investing News Network, Guerilla Capital, and First Phase Capital; and, in particular, the anticipated effects of the proposed marketing services. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following: economic conditions, industry trends, regulatory changes, competition, technological advancements, and other factors beyond our control. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
ASX AI Stocks: 5 Biggest Companies in 2024
Artificial intelligence (AI) continues to evolve and advance rapidly, becoming increasingly integrated in the automation of everyday life and a focal point of growth in the technology sector.
AI is also becoming a major focus for the Australian government, whose budget for the 2023/2024 fiscal year outlines a plan to invest AU$101.2 million in AI development and adoption over the coming years. That includes AU$17 million announced in December 2023 to fund up to five AI Adopt Centres for small- and medium-sized businesses.
According to a September 2023 report from IDC on worldwide AI spending, Australia, along with Korea and India, is leading the Asia-Pacific region in spending on AI solutions; the three countries are also leading when it comes to AI adoption in the area. Spending in the region, excluding Japan and China, is expected to reach US$28.2 billion by 2027.
Although the AI market is relatively small in Australia, it’s growing. To help investors understand the options available, the Investing News Network used TradingView's stock screener to find the top AI stocks on ASX by market cap. All ASX AI stocks data was current as of March 26, 2024; companies whose business is focused mainly on AI were considered.
1. NextDC (ASX:NXT)
Market cap: AU$9.25 billion; current share price: AU$17.81
NextDC is Australia’s leading data centre operator, with 13 functioning centres throughout Australia, New Zealand, Malaysia and Japan, and nine more currently in the works. NextDC has expressed its commitment to improving Australia’s digital infrastructure with multiple business and academic partnerships.
This past August, NextDC announced it would be partnering with Microsoft (NASDAQ:MSFT), as well as well-known Australian mining and telecommunications groups, to bring a state-of-the-art data centre to Pilbara, Western Australia. Then, in November 2023, the company officially broke ground on an AU$80 million data centre in Darwin as part of an action plan to improve the digital infrastructure in the Northern Territory.
NextDC also revealed last September that it would be partnering with La Trobe Business School’s Research Centre for Data Analytics and Cognition on research into future theoretical and practical applications of AI across a range of industries.
2. BrainChip (ASX:BRN)
Market cap: AU$588.8 million; current share price: AU$0.33
BrainChip is the company behind akida, a revolutionary digital neuromorphic chip that’s built with a spiking neural network, a type of artificial network that mimics the way messages are passed between neurons in the human brain.
Because the AI is inside the chip, the chip is able to learn on its own and is not reliant on the cloud or other networks. This makes it much more secure and reduces latency as well.
3. Appen (ASX:APX)
Market cap: AU$138.57 million; current share price: AU$0.60
Appen began in 1996 as an automated speech recognition startup by a couple based in Sydney, New South Wales. Today, the company operates as a trusted partner to firms transitioning to AI usage, with a suite of industry-specific large language models and AI-training products.
4. Bigtincan Holdings (ASX:BTH)
Market cap: AU$92.44 million; current share price: AU$0.15
Bigtincan Holdings is a sales platform that uses AI to help companies improve their customers’ buying experience by making the process more efficient and personalised. Bigtincan’s list of partners includes Apple (NASDAQ:AAPL), Adobe (NASDAQ:ADBE), SalesForce (NYSE:CRM) and Microsoft (NASDAQ:MSFT).
5. Ai-Media Technologies (ASX:AIM)
Market cap: AU$77.26 million; current share price: AU$0.37
Ai-Media Technologies is one of the world’s leading caption and translation providers. It was founded in 2003 by Tony Abrahams and Alex Jones, who was born deaf. Ai-Media uses AI to transcribe speech, making media accessible to all.
FAQs for investing in AI
What is artificial intelligence?
AI is defined as human intelligence exhibited by machines. The development of graphics processing units with faster and more powerful chips has supported the emergence of AI technologies.
Where is AI used?
AI has been heralded as a technology of the fourth industrial revolution, with heavy investment from industries including transportation, manufacturing, education and agriculture. Some of the sectors that will likely see the fastest AI investment growth in the coming years are healthcare, pharmaceutical research, retail, industrial automation, finance and intelligent process automation.
How to invest in AI stocks?
Investors looking to capitalise on AI's growth potential have a number of entry points when it comes to stocks. It's key for each person to practise due diligence and speak to their broker to determine the most suitable investments.
The companies listed above have a strong focus on AI, but investing in companies that are using AI as part of a larger business model is one way to gain indirect exposure to the sector. Examples of stocks like this on the ASX include Block (ASX:SQ2), WiseTech Global (ASX:WTC), Seek (ASX:SEK) and Xero (ASX:XRO).
For a more diversified approach, the Betashares Global Robotics and Artificial Intelligence ETF (ASX:RBTZ) invests in companies involved in the development of AI applications all across the globe. Investing in an exchange-traded fund is a low-cost way to benefit from a sector without directly buying individual stocks.
This is an updated version of an article first published by the Investing News Network in 2020.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Tech 5: NVIDIA Reveals New AI Products, Cryptos Pull Back, Apple Faces Lawsuit
After a two week hot streak, cryptocurrency prices experienced a modest pullback as Bitcoin exchange-traded funds (ETFs) experienced outflows and spot Ethereum ETF expectations were dampened.
Meanwhile, NVIDIA's (NASDAQ:NVDA) hotly anticipated GPU Technology Conference delivered a host of new, innovative technology, including a project for building humanoid robots, and Apple (NASDAQ:AAPL) shares pulled back after the US Department of Justice filed a lawsuit accusing the tech giant of anticompetitive behavior.
Stay informed on the latest developments in the tech world with the Investing News Network's round-up.
1. Nasdaq closes at new record
The Nasdaq Composite (INDEXNASDAQ:.IXIC) closed at a new record high on Friday (March 22) after the US Federal Reserve held interest rates steady on Wednesday (March 20) and maintained its forecast for three cuts this year.
Shares of Microsoft (NASDAQ:MSFT) peaked at US$429.83 on Thursday (March 21), a 3.75 percent difference from the firm's opening price of US$414.31 on Monday (March 18). Meta (NASDAQ:META) reached its highest valuation so far this month that same day, touching US$515 at market open before falling slightly, ending the week at US$509.58.
Amazon (NASDAQ:AMZN) traded around US$175 during the first half of the week before rising on the Fed news to over US$180 on Thursday. It remained elevated at the close of trading on Friday at US$178.87.
Alphabet (NASDAQ:GOOGL) experienced some volatility leading up to the Fed's meeting, but didn’t see the same sharp share price uptick as many of the other mega-cap tech stocks. And, after three weeks in a downtrend, Tesla's (NASDAQ:TSLA) share price finished the week 0.53 percent higher to close at US$170.83.
Apple was the only one of the major tech stocks to see an overall decline this past week.
NVIDIA was unsurprisingly the biggest winner of the mega-cap tech stocks this week, closing 4.31 percent higher despite a sharp drop both before and after a conference it held on Monday.
2. Bitcoin and Ethereum record mild week
After last week’s surge, Bitcoin experienced a moderate drop over the weekend, starting the week at US$68,437 on Monday, 7.5 percent lower compared to its record high of US$73,580 on March 14. The cryptocurrency's price continued to fall through the week, dropping as low as US$61,494 just before midnight on Tuesday (March 19). By the end of Wednesday, it had mostly recovered, reaching US$67,883. Bitcoin was trading at US$63,117 as of 4:00 p.m. PST on Friday.
Ethereum followed a similar pattern, hitting a high of US$3,566 on Thursday after starting the week at US$3,626 — that's 12.24 percent lower than its March 11 price level of US$4,070.60. Ethereum’s lowest valuation for the week was US$3,107 on Tuesday. It was trading at US$3,297 as of 4:00 p.m. PST on Friday.
According to trader and economist Alex Kruger, reasons for the “crash,” from most to least important, include too much leverage, waning optimism that the US Securities and Exchange Commission will approve spot Ethereum ETFs, outflows from Bitcoin ETFs and inflated valuations.
3. NVIDIA delivers at GPU Technology Conference
NVIDIA CEO Jensen Huang kicked off his company’s GPU Technology Conference on Monday with a keynote, unveiling a new lineup of artificial intelligence (AI) chips and software for running AI models, the Blackwell architecture.
Alluded to for the first time in October 2023 as part of the company’s developmental roadmap, Blackwell was rumored to be NVIDIA's most capable graphics processing unit (GPU) yet. During the presentation, Huang outlined Blackwell’s capabilities and how the company is poised to lead the “new industrial revolution” with its hardware and software.
The Blackwell GPU, manufactured by Taiwan Semiconductor Manufacturing Company (NYSE:TSM), is the world’s first multi-die chip specifically designed for AI applications, with two large dies connected by cables to form one large GPU. In a computer chip, a die refers to the semiconductor material, usually silicon, that houses the transistors, resistors, capacitors and other elements that carry out the tasks the chip was designed for.
The Blackwell platform consists of NVIDIA's B200 Tensor Core GPUs and the GB200 Grace Blackwell Superchip, a powerful processor that connects the two CPUs to the NVIDIA Grace CPU over an ultra-low-power NVLink chip-to-chip (C2C) interconnect. NVIDIA developed C2C to allow high-speed communication between different chips within a single processor. With the increased processing power, AI companies will be able to train bigger and more complex models.
NVIDIA also introduced NVIDIA AI Enterprise 5.0, which offers dozens of generative AI microservices that will help businesses create and establish their own applications on their own platforms, giving them full ownership rights over their intellectual property. Developers can run their models on their own servers or on cloud-based NVIDIA servers, and are charged based on usage. The microservices offered by 5.0 include the new NVIDIA Inference Microservices, which will make it easier to deploy AI and run programs, including on older versions of NVIDIA GPUs.
The keynote concluded with a presentation of Project GR00T, or Generalist Robot 00 Technology, a foundation model that will provide natural language understanding and imitative learning for humanoid robots. The initiative is powered by a new NVIDIA computer for humanoid robots called Jetson Thor, which is available for developers through the company's upgraded Isaac Robotics Platform.
4. NVIDIA to build humanoid robots
“The ChatGPT moment for robotics may be right around the corner,” NVIDIA's Huang said as he revealed a new innovative project at the conference. Project GR00T is a general-purpose foundation model for humanoid robots built on a new computer called Jetson Thor. Jetson Thor is based on the newly designed NVIDIA Thor system-on-a-chip, which itself is built on the Blackwell architecture and an upgraded Isaac Robotics Platform.
As Huang pointed out at the event, “Building foundation models for general humanoid robots is one of the most exciting problems to solve in AI today.” One obstacle he identified was the difference between large language model reinforcement learning on a computer and reinforcement learning with physical feedback.
“We need a simulation engine that represents the world digitally for the robot so that the robot has a gym to go learn how to be a robot,” he said. “We call that virtual world Omniverse.”
NVIDIA's Omniverse bridges the gap between the digital and physical worlds. By creating digital twins in Omniverse, developers can simulate real-world scenarios to test robot behaviors and optimize designs before physical implementation. Other tools to facilitate robot learning are the Isaac Lab, a robotic simulation platform for reinforcement learning that is powered by Omniverse; and OSMO, a compute orchestration service that helps developers scale their workloads across a distributed environment for scheduling multi-stage workflows.
5. Apple fined by DoJ and 16 states
The US Department of Justice (DoJ), joined by 16 other state and district attorneys general, filed a major antitrust lawsuit against Apple in New Jersey on Thursday, alleging that the tech giant has engaged in anticompetitive practices to maintain its dominant position in the smartphone market. The lawsuit claims that Apple has stifled competition, suppressed innovation and inflated prices by restricting the ability of smaller companies to offer competing applications and services on its iOS platform, thereby making it more difficult for users to switch to other devices.
The government argues that Apple’s actions violate antitrust laws and harm both consumers and smaller competitors. The lawsuit seeks remedies that could include breaking up Apple; however, outcomes will depend on the court’s decision.
This legal action marks a significant escalation in the ongoing regulatory scrutiny of Big Tech, and follows similar litigation brought against both Amazon and Alphabet’s Google last year. Overseas, Apple was issued a 2 billion euro fine by the European Commission on March 4 after the court ruled that Apple had broken the bloc’s antitrust laws by favoring its music streaming service, iTunes, over those belonging to competitors.
US President Joe Biden has made this issue a priority as well, launching a task force on March 5 jointly led by the DoJ and the Federal Trade Commission to strictly enforce antitrust laws and crack down on unfair corporate pricing.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Information Management Experts Gather to Explore How AI Elevates Human Potential at OpenText World Europe 2024
OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, is set to host OpenText World Europe 2024 April 15 18, 2024, with a series of in-person customer conferences taking place in London Munich and Paris . The event series will bring together industry leaders, innovators, and customers to discuss how technology can enable global organizations to build for growth, experience, and sustainability.
"AI is revolutionizing the business world as a force multiplier for human potential. At the center of this force is trust and authenticity. Our enterprise customers need trusted, governed data to fuel the possibilities of AI. When advanced cloud technologies are applied securely to private data, organizations can get newfound value from their existing IP and begin to build trust with autonomous decisions from AI," said Mark J. Barrenechea , CEO and CTO, OpenText. "At OpenText World Europe, we look forward to showcasing how our OpenText Aviator solutions are empowering organizations to redefine roles and elevate their employees to be their best."
OpenText World Europe will provide an inspiring overview of the company's next generation developments in the cloud and at the edge. From IOT to AI-persona assistants, the innovations to be unveiled will inspire attendees to reimagine their daily work and experiences. From the CIO to the software quality engineer to the IT service manager to insurance claims agent – tomorrow's workplace will be transformed by bringing together automation and AI to disrupt our traditional cultures of knowledge.
Attendees will also learn more about OpenText Aviator – the company's family of generative AI capabilities that leverage large language models (LLMs) and private data sets to solve specific use cases. Attendees will learn first-hand from experts detailing their experiences implementing industry-specific solutions, and challenges they overcame along the way.
Event Dates:
- London : April 15th , QEII Centre, Central London
- Munich : April 16-17th , MOC – Event Center Messe Munich
- Paris : April 18th , Maison de la Chimie, Central Paris
Event Highlights:
- A keynote from OpenText CEO & CTO Mark J. Barrenechea, on AI as a force multiplier for human potential and how our next generation of information management, Edge, AI, and Security are solving tomorrow's most complex problems.
- A keynote from Chief Product Officer Muhi Majzoub, who will dive into OpenText's cloud roadmap with Titanium X to showcase how security, trust, and governance are at the center of serving our customers.
- Distinguished customer speakers including Carsten Trapp , CIO, Carl Zeiss , set to take center stage in Munich , and Leon Van Niekerk , Senior Manager of Test Center of Excellence, Pick-N-Pay, presenting in both London and Paris , will demonstrate how their work with OpenText has propelled their organizations forward and provide their unique industry perspectives on the future challenges and opportunities presented by AI.
- Guest speaker Bertrand Piccard, the force behind Solar Impulse, the first airplane to fly around the world without a drop of fuel, will highlight the environmental protection goals of his recently launched World Alliance for Efficient Solutions, sharing how he envisions ecology through the lens of profitability, promoting clean and profitable solutions that are "logical" more than just "eco-logical".
- Breakout sessions featuring updates on the combination of Aviator with each of the OpenText clouds – AI & Analytics, Content Services, Business Network, Digital Experience, Cybersecurity, IT Operations Management (ITOM) and Application Delivery Management (ADM).
- Turbo talks that dive into the market trends, challenges, and areas of strategic interest that matter most to organizations in Europe.
- Interactive labs offering the opportunity to experience the latest OpenText innovations, complete training courses, and contribute to product roadmaps.
- Extensive networking opportunities to connect with OpenText experts, partners and industry peers throughout all the events.
Registration is now open, and the full agendas are available for OpenText World Europe – London , Munich and Paris . Come reimagine work with OpenText and chart your journey to the Future of AI.
About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com
Connect with us:
OpenText CEO Mark Barrenechea's blog
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website ( https://investors.opentext.com ). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.
Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents .
OTEX-G
View original content to download multimedia: https://www.prnewswire.com/news-releases/information-management-experts-gather-to-explore-how-ai-elevates-human-potential-at-opentext-world-europe-2024-302091600.html
SOURCE Open Text Corporation
News Provided by PR Newswire via QuoteMedia
BlinkLab Limited: Transforming Mental Healthcare through Mobile-based AI App
Australia-based BlinkLab leverages computer vision, artificial intelligence and machine learning by developing an app-enabled, smartphone-based diagnostic tool for evaluating children with neurodevelopmental conditions such as autism and ADHD. The app turns the mobile phone into a medical device for an effortless way of conducting remote and rapid tests.
The BlinkLab Test aims to perform neurobehavioural testing free from facial instruments or other fixed location equipment. This AI-based platform is designed to be used at home or in similar environments, independently or with the assistance of a caregiver while following instructions from the mobile device application.
In collaboration with Princeton University in the US and Erasmus Medical Center in the Netherlands, Blinklab Test is initially developed as a prescription diagnostic aid to healthcare professionals (HCP). BlinkLab will need to complete a pivotal registrational study and subsequently apply for FDA registration and reimbursement for the tests.
Company Highlights
- Australia-based BlinkLab is focused on transforming mental healthcare through an AI-enabled smartphone application, a breakthrough technology developed at Princeton University.
- The company’s innovative approach leverages the power of smartphones, AI and machine learning to deliver screening tests specifically designed for children as young as 18 months old. This marks a significant advancement, considering traditional diagnoses typically occur around five years of age, often missing the crucial early window for effective intervention.
- Once approved by the regulators, this cutting-edge digital technology is poised to capture the imagination of both investors and major pharmaceutical companies, eager to embrace transformative solutions in healthcare.
- BlinkLab is led by an experienced management team and leading experts in the field of machine learning, autism and brain development bridging the most advanced technological innovations with groundbreaking scientific research. The company is chaired by Brian Leedman, an experienced biotechnology entrepreneur and founder of ResApp Health, a digital diagnostic company recently acquired by Pfizer.
This BlinkLab is part of a paid investor education campaign.*
Click here to connect with BlinkLab to receive an Investor Presentation
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.