TORONTO, Dec. 14, 2023 (GLOBE NEWSWIRE) -- via IBN -- ARway.ai ("ARway" or the "Company") (CSE: ARWY), (OTC: ARWYF) (FSE: E65) is an AI powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision announces the release of Version 2.7, marking a significant leap forward in its spatial mapping capabilities. This latest version introduces a new enhanced AI-powered process that automates the creation of 400,000 square feet 3D spatial maps from 2D floor plans, significantly improving ARway's platform performance for enterprises and developers. The deployment of this technology at Congohas Airport, Brazil, and a prominent shopping destination in South Africa, showcases its global applicability and scalability.
This launch is expected to generate more revenue for the Company as it is solving the challenges facing enterprise customers.
Watch a video showcase of Version 2.7 - click here
The centerpiece of Version 2.7 is the enhanced capability to transform 2D floor plans into property and mini-city scale 3D digital twins, now accommodating spaces more than 400,000 square feet (37,000 square meters). This breakthrough allows for the creation of centimeter-precise digital twins, which can be connected for seamless navigation across multiple floors and areas, both indoor and outdoor.
Previously announced feature and patent
Earlier this year ARway announced it had filed a provisional patent for 3D Floor Plan and Digital Twin Generation technology to create and manage virtual replicas of physical spaces. This technology is unique in that it eliminates the complexity and reliance on expensive hardware and scanners by ingesting 2D floor plans and architectural drawings and converting these artifacts into 3D environments.
Complementing these major features, ARway has introduced several minor yet impactful enhancements to further streamline the user experience.
Notable enhancements include:
- Updated Toolbar and Help Modals: A cleaner toolbar display and helpful instructional modals make creating with ARway even more intuitive.
- Upgraded Floor Plan Peg Adjustments: Creators can manually adjust pegs with confidence, ensuring precise placement.
- Location Directory Category and Subcategory Updates: A cleaner UI for adding and editing categories and subcategories enhances usability.
- Map Connector Update: Creators can now edit Map Connector pins from both the 3D and 2D maps with enhanced controls for multi-map and multi-floor navigation experiences.
- Large Scale Floor Plan Compatibility Upgrade: High-resolution floor plans are now efficiently compressed without sacrificing clarity on mobile apps powered by ARwayKit SDK.
These upgrades are targeted towards ARway's enterprise business and new SaaS business, aiming to drive developer adoption and enhance the total value proposition of the ARway platform. By democratizing AR features through the ARwayKit SDK and improving the platform's capabilities, ARway is poised to meet the evolving needs of SMEs, enterprises, agencies, and XR developers.
The upgrades in Version 2.7 significantly enhance ARway's market competitiveness. By offering a solution that is not only more powerful but also easier to use, ARway is positioned to attract a larger customer base. The automation of 3D map creation and the expansion of the platform's capabilities are key factors in driving the company's growth and profitability.
As part of the Company's stock options plan it has issued 1,175,000 3- year options at $0.215/ share.
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About ARway.ai
ARway.ai (CSE: ARWY) (OTCQB: ARWYF) (FSE: E65) is a spatial computing platform powered by artificial intelligence (AI) providing an array of augmented reality (AR) experiences for indoor spaces. ARway's breakthrough no-code no-beacon IPNN allows for the easy creation of navigation, tours, information sharing, notifications, advertising and gamification. ARway works seamlessly as a cross platform solution on iOS/ Android. ARway's technology is optimized for both mobile devices and AR glasses: Apple's Vision Pro, Magic Leap and Microsoft's HoloLens. ARway has unlimited use cases for augmenting physical spaces, making it a valuable tool for creators, brands and companies in various industries. The complete ARway platform includes: the Web Creator Studio, the ARwayKit Software Development Kit (SDK) and a mobile app for iOs and Android.
Nextech 3D.ai
On October 26, 2022, ARway.ai. was spun-out from its parent Company, Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS). Nextech retained a control ownership in ARway.ai. with 13 million shares, or a 50% stake. Nextech3D.ai is a Generative AI powered 3D modeling Company and leading provider of augmented reality ("AR") experience technologies and 3D model services. Nextech's AI-powered 3D modeling platform, "ARitize3D" has contracts with; AMZN, KSS, CB2, Genuine Parts & many others. To learn more about Nextech3D.ai, visit www.nextechar.com
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@arway.ai
ARway.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
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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. ARway.ai 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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