ImagineAR Inc. (CSE:IP, OTCQB:IPNFF) told investors that it is exploring key strategic partnerships to develop new artificial intelligence (AI) and augmented reality (AR) integration application opportunities.
In a corporate update, the company said it plans to integrate Azure OpenAI in 2024, providing access to OpenAI's powerful language models including GPT-4, GPT-3.5-Turbo, Codex, DALL-E, and Whisper.
The company has been a Microsoft Azure Certified Partner since 2018.
"Incorporating AI into AR holographic experiences can lead to more interactive, engaging, and personalized communication seamlessly integrating the digital and physical worlds, making AR more captivating, from sports, entertainment, and education to industrial and healthcare,” ImagineAR CEO Alen Paul Silverrstieen commented.
The company said it also plans to broaden its focus in 2024 into new vertical markets that can increase mobile app return on investment (ROI) with the existing ImagineAR SDK platform as well as potential AI/AR Interactive experiences. New targeted markets include college, retail, entertainment, and casino gaming.
Also, the company said it has been in contact with legal firms to unlock the value of its patent portfolio as well as potential patent enforcement.
"This has been an extremely challenging year for the company driving new revenue growth,” Silverrstieen said.
“Our primary focus has been raising capital in which we ultimately exceeded our expectations with $1,196,575 this calendar year.
"We are going to expand the markets for the company's technology in 2024 and are optimistic to achieve revenue growth in our newly stated opportunities.”
The company said it expects to file its audited 2023 financial statements for the year to August 31, 2023, this month.
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