Nextech3D.ai Achieves Major Generative AI Breakthrough In Text to 3D Material Generation
Martech Outlook | Thursday, May 04, 2023
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TORONTO, O.N, Canada – Nextech3D.AI (formally “Nextech AR Solutions Corp” or the “Company”) (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 the Company has launched breakthrough generative AI technology that facilitates the generation of 3D materials from text prompts. This breakthrough in text to 3D material creation is key in driving the company forward in its quest to be the dominant 3D model supplier for the ecommerce industry. The 3D models for ecommerce TAM are estimated to be worth $100 billion over the next decade.
Evan Gappelberg, CEO of Nextech commented, “We are continuing to leverage the game-changing power of generative AI which we believe gives us a major competitive advantage in the 3D model for the ecommerce market. With generative AI we are creating an increasingly wider and exponentially growing moat: the more models we make, the larger the moat. I believe that we are at the point where the value of Nextech goes up with each new 3D model we make, creating a virtuous cycle of growth and value.”.
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He continued, “2023 is going to be the year of AI. We have already announced multi-million dollar enterprise contacts and more are expected in 2023. With our breakthrough AI which we are continuously developing and refining, we are becoming the global go-to 3D model supplier for ecommerce. With an estimated 300 million 3D models needing to be made and only < 1% having been made, we have only just scratched the surface. Since 2019, AI technology has always been on our radar but our investment really accelerated in 2021 when we invested over $10million in AI. We are continuing to invest through Toggle3D.ai and we are just now starting to see a return on our investment. Our proprietary breakthrough AI perfectly positions us to take full advantage of the multi-billion dollar decade-long 3D model mega-trend and gives us an opportunity to achieve software-like profit margins in the second half of 2023”
With a new wave of generative AI systems, such as ChatGPT, the world is entering a period of generational change where entire industries are going to be transformed. The Company believes that to be the 3D model leader for e-commerce, a clear and compelling AI strategy is needed. With its new key AI hires and its breakthrough AI focused on 3D modeling coupled with its Amazon relationship Nextech3D.ai believes that it’s emerging as the leader. As recently announced, Nextech3D.ai has launched breakthrough AI to scale its 3D model production capabilities, which positions the Company for breakout revenue growth in 2023 and beyond. The Company has also achieved a major generative AI breakthrough in 3D model texture creation. Nextech3D.ai is using its newly developed AI to power its diversified 3D/AR businesses including Arway.ai, Toggle3D.ai and Nextech3D.ai.
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