Nextech3D.ai's Breakthrough AI Powered Search Engine Reports a 80% Increase in 3D Modeling Productivity

AI Search Enabling the Company to Scale Production of 3D Models

Join CEO Investor Livestream TODAY at 2pm ET

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), an AI-3D model supplier for major e-commerce retailers announces its new breakthrough AI Powered 3D model search engine has increased the Company's 3D modeling productivity by up to 80%. Nextech3D.ai believes its AI search engine for 3D models, which uses both images and text prompts for search, is a major technological breakthrough and could lead to significant revenue growth in 2024. The Company plans on releasing its AI search engine in Q1, 2024 for general use and charging on a per use basis

Evan Gappelberg CEO of Nextech3D.ai commented, "With hundreds of millions of products being converted to 3D, this technology has major growth potential." He continued, "We have been working on this breakthrough AI technology for over a year and quite frankly, I didn't anticipate it being so powerful and productive so quickly. Being able to reduce the amount of time spent working on a 3D model by 80% is truly staggering! Currently we are happy to use this AI technology in house, however we expect to release it for general use soon, which I believe will be the launch of the first AI- powered 3D model search engine, which is a major milestone for our Company."

Today's early data release comes from Nextech3D.ai's own internal usage based on 3000+ searches over the last week alone. The Company anticipates releasing a continuous report on productivity over time. As more searches are conducted and the tool is used more frequently, the AI learns and becomes progressively more productive.

Last week, the Company announced it had gone live with its proprietary AI-Powered 3D model search engine. This cutting-edge AI search engine combines computer vision and artificial intelligence to enhance and expedite the 3D modeling process. By leveraging this proprietary technology, the Company aims to streamline and accelerate its in-house 3D model production operations significantly. In addition, it plans to sell its search engine to others, which could lead to significant revenue and profit growth.

The AI-based search engine operates by utilizing images to sift through Nextech's extensive internal library of hundreds of thousands of 3D product models and parts. It then suggests a close match to the provided image, effectively reducing the time and effort required for 3D model creation. In just a few seconds the 3D artist is able to choose from multiple 3D matches, leveraging its library of previously built 3D models. The Company sees this as a breakthrough in 3D modeling and is looking to launch a general purpose version that can become the gold standard.

Watch a demo of the AI-Powered 3D model search engine tool - click here

In addition to the successful implementation of this technology, Nextech3D.ai is actively pursuing the development of patents to safeguard its proprietary advancements. Simultaneously, it is committed to ongoing research and development, aiming to introduce groundbreaking AI solutions tailored for the mass production of 3D models. The Company anticipates that the mass-scale adoption of AI in the 3D modeling space will contribute significantly to its growth in the market throughout the year 2024.

Investor Livestream Details

Join Nextech3D.ai CEO Evan Gappelberg TODAY for a special livestream event. He will demo and discuss Nextech's new AI powered 3D model search engine, the launch of Apple's AR glasses and what that means for ARway, and the re-launch of Toggle3D!

The Company invites individual and institutional investors, as well as advisors and analysts to attend the live, interactive online event. Guests are encouraged to join live and ask questions.

Date: TODAY, Thursday January 11, 2023
Time: 2:00 p.m EST
Guests: Evan Gappelberg (CEO & Founder of Nextech3D.ai)
Link to Join: https://www.youtube.com/watch?v=yagvPmtu7PA

Recent News

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 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

ntar:cnx emerging tech investing nextech3d.ai otcqx:nexcf Emerging Tech Investing

NTAR:CNX

Nextech3D.ai Achieves Milestone with 3D AI Modeling Profit Margins Hitting 80% in Q2 2024 Up From 30% in 2023

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier for Amazon, Miele, P&G, Kohls, Wesfarmers Group "Bunnings" (Australia's largest listed company) and other major e-commerce retailers is excited to announce a major milestone in its 3D modeling business for ecommerce by hitting 80% gross profit in Q2, 2024 which is up 166% from 30% in 2023. This milestone achievement is only possible through the company's investment in AI and its pivot to Hyderabad India in Q3, 2023

The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Nextech3D.ai is Participating In The Supplier Network of GlassDollar, Which Extends Nextech3D.ai Reach to Large Corporations, Such As Siemens, LG, BSH, Infineon

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a leading provider of patented 2D-3D Generative AI-powered 3D modeling technologies to major e-commerce brands like Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings", has announced a collaboration with GlassDollar. This collaboration highlights the demand for Nextech3D.ai's innovative solutions from large corporations-including CAD to 3D texturing, 3D photo rendering, data analytics, generative AI, spatial computing, and 3D cloud hosting. Through this collaboration Nextech3D.ai is participating in the supplier network of GlassDollar, which extends Nextech3D.ai reach to large Corporations, such as Siemens, LG, BSH, Infineon and more

Nextech3D.ai, along with its subsidiaries Toggle3D.ai and ARway.ai, is excited to be invited to bring its advanced technologies to this collaboration. This collaboration serves to both enhance GlassDollars product offerings to meet the specific needs of GlassDollar's clients while establishing potential new relationships and revenue streams for Nextech3D.ai.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Syntheia Announces Establishment of Advisory Board and Appointment of Travel Industry Expert, Mr. John Kirk

Syntheia Corp. ("Syntheia" or the "Company") (Syntheia.ai), CSE SYAI, Syntheia, a Canadian leader in conversational AI SaaS, is pleased to announce the establishment of its new Advisory Board. The Advisory Board will collaborate with management and the board of directors to enhance the Company's strategic direction, provide expert guidance on its commercial initiatives, offer industry insights, and shape and accelerate innovations.

As the inaugural member of the Advisory Board, Syntheia welcomes Mr. John Kirk, a leader in the travel industry. The travel sector represents a potentially significant growth market for the Company's technology.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Syntheia Enhances Inbound Customer Calls with AI-Powered Virtual Assistants, Positively Impacts Sales and Customer Satisfaction

Syntheia Corp. ("Syntheia" or the "Company") (Syntheia.ai), CSE SYAI, Syntheia, a Canadian leader in conversational AI SaaS, is transforming customer service by delivering an innovative solution that uses natural language processing (NLP) to handle inbound telephone calls with virtual assistants. Since its beta launch in June 2023, Syntheia has processed over 750,000 conversations, bringing new levels of efficiency and engagement to businesses in diverse industries.

Companies like Georgetown Hyundai, Palmieri Furniture, Campio Furniture, and Pay N Go have all embraced Syntheia's platform, highlighting its positive impact on sales and customer satisfaction.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Zero Candida Technologies Inc. Opens the Market

Eli Ben-Haroosh, Co-Founder and Chief Executive Officer, Zero Candida Technologies Inc. (TSXV: ZCT) ("Zero Candida" or the "Company"), joined Dani Lipkin, Managing Director, Global Innovation Sector, Toronto Stock Exchange, to open the market to celebrate the Company's new listing on the TSX Venture Exchange.

Zero Candida Technologies, Inc. (ZCT), is a medical device company bringing female healthcare into the 21st century. They are transforming the treatment of Vulvo-Vaginal Candidiasis ("VVC"), which affects 75% of women worldwide, often recurrent and increasingly drug-resistant with current treatments failing to address the root cause effectively. Free from chemicals and side effects, their AI-driven tampon-like device enables real-time data collection and transmission to physicians for personalized, at-home treatment. Beyond VVC, ZCT aims to revolutionize gynecology, improving access for underserved populations and advancing hybrid medicine.

Please refer to the Company's website here.

MEDIA CONTACT:
Victoria Gamble
Corporate Development Consultant
victoria@zero-candida.com
416-706-0332

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231280

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Syntheia Rings the Opening Bell on the Canadian Securities Exchange

Syntheia Corp. ("Syntheia" or the "Company") (Syntheia.ai), CSE SYAI, a Canadian leader in conversational AI, is pleased to announce that the Company's leadership team rang the bell to open the market in collaboration with the Canadian Securities Exchange to celebrate its successful listing under the symbol "SYAI".

" We look forward to great success through our partnership with the CSE as we commercially launch our conversational AI to the market. On behalf of the Company, I would like to thank everyone who has made this milestone happen, " commented Tony Di Benedetto, Chief Executive Officer at Syntheia.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

	31-Dec-23			31-Dec-22
ASSETS
Current
Cash & cash equivalents		907,847			3,777,117
Receivables		357,398			744,331
Contract asset		51,320			589,015
Finance lease receivable on sublease CP		199,933			-
Prepaid expenses		294,471			310,906
Inventory		-			45,289
Non current assets held for sale		-			501,188
Total current assets		1,810,969			5,967,846

Equipment		325,633			278,463
Deferred consideration		206,850			-
Right of use asset		-			829,278
Finance lease receivable on sublease		642,983			-
Intangible assets		-			3,313,741
Goodwill		-			6,746,378
Total assets		2,986,435			17,135,706

LIABILITIES
Current
Accounts payable and accrued liabilities		3,531,460			2,641,918
Deferred revenue		342,192			437,746
Lease liability		143,722			222,250
Liabilities associated with assets held for sale		-			92,532
Total current liabilities		4,017,374			3,394,446

Lease liability - non current		469,624			582,586
Deferred tax liabilities		-			29,974
Total liabilities		4,486,998			4,007,006

Shareholders' Equity
Share capital		91,909,495			83,271,707
Reserves		14,166,972			12,754,706
Accumulated Other Comprehensive Income		678,143			827,101
Shareholder's equity attributable to Nextech shareholders		(112,211,223	)		(85,898,862	)
Total common shareholders' equity		(5,456,613	)		10,954,652
Non controlling interest		3,956,050			2,174,048
Total equity		(1,500,563	)		13,128,700
Total liabilities and shareholders' equity		2,986,435			17,135,706

	YTD
	31-Dec-23			31-Dec-22
		$			$
Revenue		5,033,202			3,224,791
Cost of sales		(3,586,162	)		(1,593,076	)
Gross profit		1,447,040			1,631,715

Operating expenses:
Sales and marketing		4,546,502			5,013,367
General and administrative		9,362,610			13,377,575
Research and development		3,249,799			3,892,208
Stock based compensation		1,775,695			1,715,690
Amortization		2,105,689			2,655,652
Right of use amortization		55,728			76,905
Depreciation		87,824			122,930
Operating profit (loss)		(19,736,807	)		(25,222,612	)

Other income (expense):
Gain on sublease recognition		120,626			-
Loss on asset disposal		(85,679	)		-
Gain on liability		-			381,019
Impairment of intangible assets and goodwill		(7,575,263	)		(476,113	)
Foreign exchange gain (loss)		(14,393	)		1,345,593
Profit (Loss) before income taxes		(27,291,516	)		(23,972,113	)

Current income tax expense		-			(34,937	)
Deferred income tax recovery		29,974			672,148
Net income (loss) from continuing operations		(27,261,542	)		(23,334,902	)

Income (loss) from discontinued operations		(452,814	)		(4,043,424	)
Net loss		(27,714,356	)		(27,378,326	)

Other comprehensive income (loss)
Exchange differences on translating foreign operations, continuing operations		(148,958	)		(432,845	)
Comprehensive income (loss)		(27,863,314	)		(27,811,171	)

Net loss from C/O attributed to:
Parent		(25,109,547	)		(22,896,701	)
Non controlling interest - PL		(2,151,995	)		(438,201	)

Net loss from D/O attributed to:
Parent		(452,814	)		(4,043,424	)
Non controlling interest - PL		-			-

Comprehensive loss attributed to:
Parent		(25,711,319	)		(27,372,970	)
Non controlling interest		(2,151,995	)		(438,201	)


Loss per share from C/O - basic and diluted		(0.22	)		(0.24	)


Loss per share from D/O - basic and diluted		(0.00	)		(0.04	)

Weighted average number of common shares outstanding
Basic and diluted		114,085,494			100,201,691

	YTD
	31-Dec-23			31-Dec-22
Operating activities:
Net loss		(27,714,356	)		(27,378,326	)
Adjustment for:
Interest income from sublease		(39,903	)		-
Interest expense from lease		30,217			28,668
Stock based compensation		1,775,695			1,715,690
Amortization of intangible assets		2,105,689			2,655,652
Amortization of ROU		55,728			261,101
Depreciation of property and equipment		87,824			143,567
Gain on sublease recognition		(120,626	)		-
Loss on asset disposal		85,679			-
Gain on short-term investment		-			(381,019	)
Impairment of intangible assets & goodwill		7,759,360			3,178,426
Expenses paid by shares		648,891			1,917,837
Loss on PET disposal		173,534			-
Income tax expense (recovery)		-			-
Changes in non-cash working capital balances
Receivables		386,933			269,873
Contract asset		537,695			(202,813	)
Prepaid expenses		16,435			408,743
Inventory		45,289			2,954,342
Accounts payable and accrued liabilities		917,814			(24,574	)
Deferred revenue		(95,554	)		(171,255	)
Deferred tax liability		-			(673,290	)
Total operating cash flow		(13,343,656	)		(15,297,378	)

Cashflows from investing activities
Purchase of equipment		(227,250	)		(101,784	)
Payments received from sublease		66,554			-
Net cash provided by (used in) investing activities, continuing operations		(160,696	)		(101,784	)

Cashflows from financing activities
NTAR - Net proceeds from private placements		5,726,654			8,890,349
NTAR - Proceeds from Employee Pay Program		2,269,704			2,496,628
Proceeds from securities issuances to NCI		2,813,107			1,657,354
Repayment of loan		-			(90,896	)
Payments of lease liability		(203,762	)		(388,804	)
Net cash provided by (used in) financing activities, continuing operations		10,605,703			12,564,631

Effects of foreign exchange on cash		29,379			(616,272	)
Change in cash during the period		(2,898,649	)		(2,834,531	)
Cash, beginning of period		3,777,117			7,237,296
Cash, end of period, continuing operations		907,847			3,786,493

Cash, end of period, continuing operations		907,847			3,777,117
Cash, end of period, discontinuing operations		-			9,376

Taxes paid		-			27,005
Interest paid		30,217			30,910
Cash interest received		121,122			108,390

Nextech3D.ai's Breakthrough AI Powered Search Engine Reports a 80% Increase in 3D Modeling Productivity

Latest News

Latest Press Releases

Related News

TOP STOCKS