AI Search Enabling the Company to Scale Production of 3D Models
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TORONTO, Jan. 11, 2024 (GLOBE NEWSWIRE) -- via IBN -- 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
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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.
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