Nextech3D.ai Obtains New AI Tool Through Technology Transfer From Its Largest Customer
December 06 2023 - 10:04AM
InvestorsHub NewsWire
Nextech3D.ai
Obtains New AI Tool Through Technology Transfer From Its Largest
Customer
AI Tool Will Increase Productivity and Profitability of 3D
Models
TORONTO, O.N,
Canada -- December 6, 2023 -- InvestorsHub NewsWire
-- Nextech3D.AI
(OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for
Amazon, P&G, Kohls and other major e-commerce retailers is
pleased to announce it has received a new AI-tool from its largest
customer Amazon, and is integrating the tool into its 3D model
production pipeline. The AI tool will be used for speeding up the
Quality Assessment (QA) for 3D models. By streamlining and
automating the quality checks performed by the Company's team of
quality assessors, it will ultimately reduce the time it takes,
thereby boosting revenue and profits through enhanced productivity
and efficiency.
Major
Benefits of the QA Tool
-
Cuts Quality Assessment
time by 50%
-
Improves overall productivity by
35%
-
Reduces costs by
25%
Nextech3D.ai CEO Evan
Gappelberg commented, "We are gratified and thrilled that Amazon
has given us access to this AI Quality Assessment Tool. I see this
tool as a game-changer for our 3D model production for Amazon. This
AI powered technology will increase our productivity, allowing us
to scale 3D model production, thus increasing the amount of revenue
and profit we can generate. I believe this technology transfer was
the last piece of the puzzle needed before they open seller
central."
Historically, the Company
had quality assessors meticulously scrutinize 3D models manually,
examining every detail, color, and texture to ensure consistency
and precision, which was very time consuming. Now with the
introduction of this AI-Quality Assessment Tool, this process is
expedited through AI automation; significantly reducing the time
required for a thorough quality check.
Key
Features:
-
Automated Quality
Checks: The AI
tool empowers the Company's quality assessors to leverage advanced
automation for quicker and more efficient quality assessments. This
automated process accelerates the turnaround time for creating
high-quality 3D models.
-
Enhanced
Productivity: By
cutting the manual quality assurance process in half, the AI tool
directly correlates to a 50% increase in productivity. This allows
the Nextech3D.ai team to focus on delivering exceptional 3D models
while minimizing the time spent on QA tasks.
-
Cost
Reduction: The
streamlined quality assessment process not only saves time, but
also reduces costs for Nextech3D.ai. The Company estimates a cost
reduction of approximately 25%.
-
AI-Powered
Precision: Leveraging the power of artificial
intelligence, the tool ensures high-quality, detailed 3D models by
automating checks for textures, color patterns, and
inconsistencies. This guarantees that Amazon receives top-notch 3D
models that meet its high industry
standard.
With the
recent pivot of its operations to Hyderabad India and this new AI
Quality Assessment Tool, the Company is positioning itself for
enhanced profitability, reduced costs, and increased productivity
for years to come in a rapidly evolving 3D modeling market for the
$5.5 trillion dollar ecommerce industry.
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About
Nextech3D.ai
Nextech3D.ai or the
"Company," (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), 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.
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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