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As technology continues to advance, the use of artificial intelligence (AI) in various industries is becoming increasingly prevalent. Nextech AR Solutions (CSE: NTAR) (OTCQX: NEXCF) is a leading technology company that is at the forefront of utilizing AI in the field of 3D modeling and targeting the $5.5 trillion dollar e-commerce market.
Nextech AR Solutions is a diversified Canadian technology company that specializes in creating cutting-edge augmented reality experiences for various industries. Its main businesses are creating 3D WebAR photorealistic models for Amazon Prime Ecommerce Marketplace as well as many other online retailers. One of the key features of their technology is the ability to generate 3D models at scale using artificial intelligence (AI).
The use of AI in 3D modeling gives Nextech a competitive advantage. First, it allows for faster production but also at lower cost and, perhaps most importantly, photo-realistic model creation. Traditional 3D modeling techniques can be limited by the skill and expertise of the person creating the model. With AI, however, models can be created with a level of detail and realism that would be impossible to achieve manually. This is particularly important for enterprise clients and major brands like Nike, Gucci, Apple, and others, as they have a standard of quality that must be met when converting 2D images of their products into 3D models. With AI, however, models can be created quickly and with a high degree of precision, allowing Nextech’s business to rapidly scale and become the dominant player in this $100 billion emerging mega-trend.
The AR industry as a whole has significant potential for growth, as evidenced by current progress and future projections. By the end of 2022, it is estimated that 1.73 billion people will have access to AR products through mobile devices, and the industry is expected to be worth over $180 billion by 2024. Nextech AR Solutions has been a key player in the industry since 2018, consistently innovating and expanding their client list to include Amazon, Kohl's, CB2, and NAPA, among many others.
Nextech AR Solutions is a diversified technology company that also offers additional AI-powered services that make it a valuable investment for technology investors. The company develops or acquires what it believes are disruptive technologies and, once commercialized, spins them out as stand-alone public companies, issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out or operating them directly, creating shareholder value in multiple ways.
On October 26, 2022, Nextech AR spun out its spatial computing platform, “ARway”, as a stand-alone public company (CSE: ARWY) (OTC: ARWYF). Trading at $1.25/share, it is worth roughly $32.5 million. ARway is disrupting the augmented reality wayfinding market with a no-code, no-beacon spatial computing platform enabled by visual marker tracking. Visitors can access a venue map by scanning a visual marker (e.g., QR code) with their smartphone and navigate to any point of interest (POI) by following an augmented path and step-by-step directions, while interacting with rich AR content and experiences. Nextech AR retains a controlling ownership in ARway Corp. with 13 million shares, or a 50% stake worth $16.25 million as of January 15, 2023.
On December 14, 2022, Nextech AR announced its second spinout of Toggle3D, an AI-powered 3D design studio that will compete with Adobe. Toggle3D is an AR-enhanced standalone web application which enables product designers, 3D artists, marketing professionals, and e-commerce site owners to create, customize, and publish high-quality 3D models and experiences without any technical or 3D design knowledge required. The company believes that Toggle3D is the first platform of its kind, and this breakthrough SaaS product is a potential game-changer for the manufacturing and design industry, as it provides a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale. According to BIS Research, the CAD market, quantified by the amount spent on the creation of CAD files, is projected to reach $11 billion dollars by 2023. Toggle3D is expected to be public in the first half of 2023, and existing Nextech AR (CSE: NTAR) (OTCQX: NEXCF) shareholders at the time of the spin-out will receive a stock dividend of Toggle3D.
Overall, Nextech AR Solutions is a company that is at the forefront of utilizing AI in the field of 3D, ML, and AR. As technology investors, it is important to note the value that Nextech brings to the AR industry through its offerings in 3D model creation, customization, and hosting. The ability for consumers to virtually "try on" potential purchases through AR technology leads to a 94% increase in click-through rates, a 250% increase in conversions, and a 40% decrease in returns, resulting in a very high ROI and cost savings for retailers, plus increased customer satisfaction. With the $5.5 trillion dollar e-commerce mega-trend on the rise, the AR and 3D modeling solutions provided by Nextech for e-commerce present a ground-floor investment opportunity for brands of all sizes in the coming years. If you are looking for a company that is pushing the boundaries of what is possible with AI, 3D, ML, and AR, then Nextech AR (CSE: NTAR) (OTCQX: NEXCF) is a stock worth considering.