NexOptic Announces LIVE Demonstration of NexCompress™ AI Video Compression

Rhea-AI Summary

NexOptic (TSXV: NXO, OTCQB: NXOPF) announced a live demonstration of its proprietary AI technology, NexCompress, on April 25, 2023. This innovative solution offers significant bandwidth reduction for video compression, applicable on both edge devices and in the cloud. It aims to enhance existing CODEC methods used by major video streaming services like Netflix. The event, led by VP of AI Technologies Kevin Gordon, will showcase real-time video processing, allowing viewers to see before and after samples to assess quality improvements and bandwidth savings. Paul McKenzie, CEO, stated that reducing video noise can lower energy consumption and costs across various industries, especially in the massive video streaming sector. NexCompress is currently patented and in the patent-pending stage, highlighting its potential impact on the market.

Positive

• NexCompress offers significant bandwidth reduction for video compression.
• Demonstration scheduled for April 25, 2023, will allow live viewer interaction.
• NexCompress can enhance existing CODEC methods, appealing to major video streaming companies.

Negative

• None.

VANCOUVER, BC, April 19, 2023 /PRNewswire/ - ("NexOptic") (TSXV: NXO) (OTCQB: NXOPF) (FSE: E3O1) is excited to announce a LIVE demonstration of NexCompress™, the company's proprietary AI for video compression. NexCompress is part of NexOptic's ALIIS^™ suite of artificial intelligence imaging solutions. It enables significant bandwidth reduction of videos while operating either on edge devices, or in the cloud. It is complementary to, and in fact can, supercharge existing CODEC methods currently used by large video streaming companies like Netflix and others. 

This is an open invitation to all interested parties to join NexOptic's VP of AI Technologies, Kevin Gordon, as NexOptic illustrates the novel data compression capabilities of NexCompress. The event is scheduled for April 25, 2023 at 1:15pm PST. It will be broadcast live via YouTube followed by a Q&A session.

"Audiences will see NexCompress in action as it strips unnecessary 'noise' from sample videos in real time, without the need for image processing after-the-fact," says Paul McKenzie, CEO of NexOptic. "Results will be broadcast live. Viewers will be able to compare before and after samples to gauge the bandwidth savings and image quality."

"People recognize the significant role AI-assisted video compression can play in reducing global pressure on internet bandwidth," he adds.

"It can translate to reductions in energy consumption, and cost savings when applied to a variety of different video input scenarios and can be applied to many industries including the colossal video streaming industry."

NexCompress AI is patented and patent-pending.

For further details and to be notified, visit: https://nexoptic.com/live-event/

What You Need to Know About NexOptic 

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering world-leading patented and patent pending AI solutions for imaging known as ALIIS^™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the imaging and AI industries and is a Preferred Partner in the NVIDIA Partner Network, a member of the Arm^® AI Partner Program, and a member of the Qualcomm^® Platform Solutions Ecosystem. 

For more information, visit: www.nexoptic.com 

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans," "expects," "estimates," "intends," "anticipates," "believes" or variations of such words, or statements that certain actions, events or results "may," "could," "would," "might," "will be taken," "occur," or "be achieved." Forward-looking statements in this news release include, without limitation, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in NexOptic's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although NexOptic believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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SOURCE NexOptic Technology Corp.

FAQ

What is NexOptic demonstrating on April 25, 2023?

NexOptic is demonstrating its AI video compression technology, NexCompress.

How does NexCompress benefit video streaming companies?

NexCompress provides significant bandwidth reduction, enhancing existing CODEC methods.

Who is leading the live demonstration of NexCompress?

The demonstration will be led by Kevin Gordon, VP of AI Technologies.

What potential advantages does NexCompress offer?

It can reduce energy consumption and costs across various industries, not just video streaming.

What is the stock symbol for NexOptic?

NexOptic's stock symbols are NXO on TSXV and NXOPF on OTCQB.