Nextech3D.ai Obtains New AI Tool Through Technology Transfer From Its Largest Customer

Rhea-AI Summary

Nextech3D.AI (NEXCF) Receives AI Quality Assessment Tool from Amazon, Boosting Productivity and Efficiency

Positive

• Received a new AI tool from Amazon for Quality Assessment (QA) for 3D models
• Cuts Quality Assessment time by 50%
• Improves overall productivity by 35%
• Reduces costs by 25%
• Enhances precision and consistency of 3D models
• Positioning for enhanced profitability, reduced costs, and increased productivity in the $5.5 trillion dollar ecommerce industry

Negative

• None.

TORONTO, ON / ACCESSWIRE / December 6, 2023 / 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.

SOURCE: Nextech3D.ai

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FAQ

What is the latest announcement from Nextech3D.AI (NEXCF)?

Nextech3D.AI has received a new AI tool from Amazon for Quality Assessment (QA) for 3D models.

How much time does the AI tool cut in Quality Assessment for 3D models?

The AI tool cuts Quality Assessment time by 50%.

What is the estimated improvement in overall productivity with the AI tool?

The AI tool improves overall productivity by 35%.

By how much does the AI tool reduce costs for Nextech3D.AI?

The AI tool reduces costs by 25%.

What are the major benefits of the AI Quality Assessment Tool for Nextech3D.AI?

The major benefits include cutting Quality Assessment time by 50%, improving overall productivity by 35%, and reducing costs by 25%.

What is the impact of the AI tool on the precision and consistency of 3D models?

The AI tool enhances precision and consistency of 3D models by automating checks for textures, color patterns, and inconsistencies.

How is Nextech3D.AI positioning itself for the future in the 3D modeling market?

With the recent pivot of its operations to Hyderabad India and the new AI Quality Assessment Tool, the Company is positioning itself for enhanced profitability, reduced costs, and increased productivity for years to come in the rapidly evolving 3D modeling market for the $5.5 trillion dollar ecommerce industry.