TORONTO, Jan. 18, 2024 (GLOBE NEWSWIRE) -- via IBN -- Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), a Generative AI-Powered 3D model supplier for major e-commerce retailers announces its recently launched AI 3D model search engine can deliver up to a 500% increase in the production of 3D models, which is a marked increase from its previously announced 80% increase in productivity. The Company plans on releasing its AI search engine to the public in Q1 2024 for general use and charging on a per use basis which could contribute significantly to the Company’s growth in 2024.
CEO Evan Gappelberg recently joined Proactive Investors to discuss the 500% increase in productivity and breakthrough AI 3D model search engine - watch here
As previously mentioned, the Company plans on continuously providing reports on the AI and its ability to increase productivity and lower costs of 3D model production over time. As more searches are conducted and the tool is used more frequently, the AI learns and becomes progressively more productive.
In a recent press release, the Company initially reported an 80% increase in productivity. Upon further research based upon Nextech3D.ai’s own internal usage of thousands of searches over the last 2 weeks, the Company reports an updated 500% increase in 3D modeling productivity. The 500% increase in productivity is due to an 80% reduction in time it takes to create a 3D model by using the 3D model search engine. Instead of a 3D artist having to create an intricate or complex 3D model from scratch, they are able to find a similar 3D model quad or triangle mesh using the AI search engine, and then modify it as needed. This groundbreaking AI-driven search engine quickly locates comparable model meshes in Nextech's extensive library, which houses hundreds of thousands of 3D parts and meshes. Within mere seconds, a 3D artist can select from a variety of 3D matches, taking advantage of the library's existing collection of 3D models that share similar colors, textures, and shapes.
Watch a demo of the AI-Powered 3D model search engine tool - click here
Earlier this month, 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 the user showing the search engine an image - the AI then goes to work searching through Nextech’s extensive internal library of hundreds of thousands of 3D product models and parts, and suggests a close match to the provided image. In just a few seconds the 3D artist is able to choose from multiple 3D models that closely match the image and fine tune the pre-built 3D model into a net new 3D model which creates another searchable new mesh. The constant creation of new 3D models creates a virtuous cycle and a tremendous amount of value for the platform. The Company sees this as a breakthrough in 3D modeling and is expecting to launch a general purpose version that can become the gold standard for the massive global $5.5 trillion dollar e-commerce market, which is pivoting to 3D models from flat 2D photos in Q1, 2024.
Recent News
- Nextech3D.ai’s Breakthrough AI Powered Search Engine Reports an 80% Increase In 3D Modeling Productivity
- Nextech3D.ai Announces Six New 2024 3D Modeling Contracts & Renewals
- Nextech3D.ai Launches AI Powered Search Engine To Scale The Production of 3D Models
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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 Amazon and 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.
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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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