Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has announced the launch of its new generative artificial intelligence (AI) technology that can create 3D materials from text prompts.
The company said this technology has the potential to make it the dominant 3D model supplier for the eCommerce industry, with the market estimated to be worth $100 billion in the next 10 years.
In a statement, Evan Gappelberg, CEO of Nextech, commented: "With generative AI, we are creating an increasingly wider and exponentially growing moat: the more models we make, the larger the moat. I believe that we are at the point where the value of Nextech goes up with each new 3D model we make, creating a virtuous cycle of growth and value."
Gappelberg noted that Nextech is investing heavily in AI technology and is well positioned to take advantage of the multi-billion dollar decade-long 3D model mega-trend.
"Our proprietary breakthrough AI perfectly positions us to take full advantage of the multi-billion dollar decade-long 3D model mega-trend and gives us an opportunity to achieve software-like profit margins in the second half of 2023," he added.
According to the company, AI technology has been on its radar since 2019, and its investment accelerated in 2021 when it invested over $10 million in AI. Nextech continues to invest through Toggle3D.ai, and its breakthrough AI is expected to result in breakout revenue growth in 2023 and beyond.
Nextech3D.ai is confident that its new generative AI technology positions the company as the leader in 3D model production for eCommerce.
The company has also achieved a major generative AI breakthrough in 3D model texture creation, which it plans to use to power its diversified 3D/AR businesses, including Arway.ai, Toggle3D.ai, and Nextech3D.ai.
Contact the author at jon.hopkins@proactiveinvestors.com