Experts following the bleeding edge of technology expect very few areas of human life will be left untouched by the imminent ‘AI revolution’, as a new generation of artificial intelligence systems take hold across the economy.
In less than a quarter of 2023, ChatGPT has blown open new avenues for AI technology – and blown more than a few minds along the way.
It has, at the same time, created opportunities for investors and company executives too.
One such company that is no stranger to high-tech innovation is Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF), which is fresh from rebranding itself to fully recognize the significance of AI in what is already a notably fast-moving augmented-reality and metaverse specialist.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) recently filed a provisional patent titled 'Generative AI for 3D Model Creation from 2D Photos using Stable Diffusion with Deformable Template Conditioning.'
The patent builds on its previous patent filed last year for creating complex 3D models by parts. It’s a “game-changing AI technology” underpinning these patents, according to Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF). The firm told shareholders recently that the company is now in a leadership position in the 3D modeling for eCommerce space – and the stage is set for it to become cash flow positive.
“We are seeing the 3D model for eCommerce mega-trend accelerating in 2023, as the biggest players in the $5.5 trillion-dollar eCommerce ecosystem are now aggressively pivoting from flat 2D photos to 3D models,” Nextech3D.ai CEO Evan Gappelberg told Proactive.
Gappelberg went on to say that the company has established relationships with the biggest eCommerce sites, as the preferred 3D model supplier for Amazon, as well as being a 3D model supplier for TGT, Kohls and others. Those relationships help to set the stage for breakout growth in 2023, Gappelberg said.
Revolutionizing the 3D modeling industry with powerful AI
“We have been preparing and anticipating this exact moment for five years, where our AI technology would advance far enough to scale production while simultaneously seeing market demand for 3D models skyrocket,” the CEO said.
“Our recently announced breakthrough advances in generative AI have made it possible to achieve scale in the production of 3D models while reducing our cost by as much as 80%. In the last few months, we have been able to create incredibly powerful artificial intelligence that will revolutionize the 3D modeling industry and establish Nextech3D.ai as the de-facto market leader."
Earlier this month, Nextech launched its first AI-supported augmented reality (AR) mobile app for live events.
The app is designed to enhance the experience of attendees and exhibitors while also providing valuable data to event organizers in real time. It will be available on Nextech's Map Dynamics platform, which already services over 800 events per year.
Once again, CEO Gappelberg believes that the app will drive significant revenue for the company and revolutionize the events industry, which he describes as "old-fashioned" and lacking in innovation.
Gappelberg said that the app's features, including AI-powered networking and AR wayfinding, will set Nextech apart from its competitors and solidify its position as a leader in the industry.
Taking a leadership role in live events
Real-time data is a critical component of the app's functionality, allowing event organizers to track attendance, monitor movement, and use AI-powered matchmaking to connect attendees with exhibitors.
The app's ability to provide personalized experiences for each event, with customized apps created on demand, is also a standout feature according to Gappelberg.
The AR component provides a unique and immersive experience for attendees, allowing them to navigate the event space with ease and explore exhibitor booths in greater detail.
Gappelberg highlights that the app's use of AR technology is a game-changer for the events industry and will significantly enhance the value proposition for both attendees and exhibitors.
The app is expected to generate significant interest in the events industry, he says, which is no small boast given that the sector as a whole is valued at around US$50 billion.
Gappelberg is confident that the app's innovative features will set Nextech apart and drive increased revenue for the company. As he puts it, "We're already established, and now we aim to take a leadership position."
The Nextech live events platform promises to be a groundbreaking development, which likely puts it on the radar for investors keenly watching the market for new nascent opportunities.
Naturally, of course, the volatility in the emerging tech space may be a worry for some investors given the most recent ordeal involving Silicon Valley Bank – a warning shot and reminder of the risks inherent in backing innovators.
If the company can indeed make inroads in the events-tech space then it may be one to watch for hardy tech investors willing to back ambitious and opportunistic players like Nextech.