Pixie Dust Technologies Announces Launch of VUEVO Display

Rhea-AI Summary

Pixie Dust Technologies (Nasdaq: PXDT) has launched the VUEVO™ Display, a innovative product designed to address multilingual communication challenges and support for people with disabilities. This transparent screen utilizes proprietary wireless microphone and voice recognition technology to provide real-time subtitling and translation in over 100 languages.

The product aims to solve two key issues:

• multilingual staff at customer service points, particularly for languages other than English
• The need for reasonable accommodation for deaf or hard of hearing individuals, as required by the revised Act on the Elimination of Discrimination against Persons with Disabilities

By facilitating smoother communication between staff and customers, VUEVO™ Display is positioned to enhance customer satisfaction in various sectors including commercial facilities, accommodation, and public transportation.

Positive

• Launch of innovative VUEVO™ Display product addressing multilingual communication challenges
• Real-time subtitling and translation capabilities in over 100 languages
• Potential to improve customer satisfaction in various sectors
• Compliance with revised disability discrimination act requirements

Negative

• None.

Insights

Tech Expert

Pixie Dust Technologies' launch of the VUEVO™ Display marks a significant step in addressing communication barriers in various customer service settings. This innovative product leverages the company's proprietary wave control technology to offer real-time subtitling and translation across an impressive 100+ languages.

The technology behind VUEVO™ Display combines wireless microphone capabilities with advanced voice recognition, projecting translations onto a transparent screen. This seamless integration of hardware and software showcases Pixie Dust's expertise in creating practical applications for its wave control technology.

From a technical standpoint, the real-time processing of multiple languages presents a considerable challenge. The system likely employs sophisticated natural language processing algorithms and possibly edge computing to minimize latency. The transparent display technology is another noteworthy feature, as it allows for non-intrusive visual communication without obstructing face-to-face interactions.

While the product shows promise, its success will largely depend on factors such as accuracy of translations, processing speed and the clarity of the transparent display in various lighting conditions. Additionally, the scalability of the system to handle multiple simultaneous conversations in busy environments could be a critical factor for widespread adoption.

As the market for language technology solutions continues to grow, VUEVO™ Display positions Pixie Dust Technologies competitively in this space. However, the company will need to stay ahead of rapid advancements in machine translation and augmented reality to maintain its edge.

Market Research Analyst

The launch of VUEVO™ Display by Pixie Dust Technologies taps into several growing market trends and regulatory changes, positioning the company strategically in the accessibility and language services sector.

Firstly, the product addresses the increasing demand for multilingual support in Japan, driven by rising inbound tourism and a growing foreign resident population. With Japan aiming to boost tourism post-pandemic, solutions like VUEVO™ could see significant adoption across various customer-facing industries.

Secondly, the timing aligns with the implementation of the revised Act on the Elimination of Discrimination against Persons with Disabilities in Japan, effective April 2024. This regulatory change mandates businesses to provide reasonable accommodations for people with disabilities, creating a potential surge in demand for accessibility solutions like VUEVO™.

The market opportunity extends beyond Japan, as global spending on language services and technology is projected to reach $56 billion by 2025, according to CSA Research. VUEVO™'s capability to handle over 100 languages positions it well in this expanding market.

However, Pixie Dust Technologies will face competition from established players in the translation technology space, such as Google and Microsoft, as well as specialized accessibility technology providers. The company's success will depend on its ability to differentiate through superior technology, user experience and strategic partnerships in key industries like hospitality, healthcare and public services.

Investors should monitor adoption rates, particularly in Japan initially and any expansion plans into international markets, which could significantly impact the company's growth trajectory.

NEW YORK and TOKYO, Aug. 2, 2024 /PRNewswire/ - Pixie Dust Technologies, Inc. (Nasdaq: PXDT) (the "Company"), a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave control technology, today announced the launch of its new product VUEVO™ Display, which provides a window to serve global customers with real-time subtitling and translation in over 100 languages.

Background

In recent years, with the rise in in-bound tourism and the increase in the number of foreigners living in Japan, there is an increasing need for multilingual support at the reception counters of commercial facilities, accommodation facilities, public transportation, and the like.

However, the number of staff at the counter who can serve customers in multiple language tends to be limited in current situations. Therefore, such staff are unable to provide appropriate guidance to unexpected foreign customers and in some cases this results in a decline in customer satisfaction. In particular, it is extremely difficult to secure personnel who can speak languages other than English.

In addition, the revised Act on the Elimination of Discrimination against Persons with Disabilities, which came into effect in April 2024, requires businesses to provide reasonable accommodation to people with disabilities, and calls for proactive responses. However, there are cases where it is not possible to provide sufficient reasonable accommodation when communicating with deaf or hard of hearing people at the counter or reception desk. As a result, there is a challenge for people with disabilities in not being able to receive appropriate guidance and to use services with confidence.

In response to these challenges, the Company has started offering the "VUEVO Display," which utilizes its proprietary wireless microphone and voice recognition technology to display subtitles and translations of conversations on a transparent screen in real-time.

The installation of the "VUEVO Display" will facilitate smoother communication between counter staff and customers, regardless of speaking in different languages or certain disabilities.

About "VUEVO Display"

"VUEVO Display" is a service that allows the content of a conversation to be displayed on both sides of the transparent display in real-time by combining the technology cultivated through "VUEVO" (https://vuevo.net), a service that uses the Company's proprietary wireless microphones and its dedicated application, with translation functions and a transparent display. As the subtitles and translations are displayed on both sides of the transparent display, it will be possible to see the other person's facial expressions and gestures and communicate smoothly face-to-face.

"VUEVO" supports translation into over 100 languages and can be used when speaking with foreign customers or communicating with the hearing impaired or hard of hearing. With the "VUEVO Display," the Company aims to create a world without communication barriers due to language differences or certain disabilities.

URL https://vuevo.net/display/

Main features of "VUEVO Display"

• Real-time translation in over 100 languages

Supports translation into over 100 languages. The conversation content is translated in real-time and displayed on the screen. The transparent display simultaneously shows what you are saying and the translated text, so you can check your spoken words while having a conversation.

     <Main supported languages>
     Japanese, English, Chinese (Simplified), Chinese (Traditional), Korean, German, Spanish, Filipino, French, Hindi, Indonesian, Italian, Malay, Russian, Thai, and Vietnamese.
     * Supports over 100 languages.

• Support for the hearing impaired and hard of hearing

Support transcription into Japanese and provide reasonable accommodations for the deaf and hard of hearing. Because the spoken words are displayed on both sides of the display, it is possible to check whether it is being displayed correctly, ensuring peace of mind when receiving customer service.

• High-precision voice recognition using a proprietary microphone

Our proprietary wireless microphone* allows a single microphone to separately recognize the voices of the receptionist and the customer. There is no need to switch languages during a conversation. The sound pickup range can be adjusted, allowing for highly accurate voice recognition without being affected by surrounding conversations.

• Easy operation with dedicated app

Operation is performed using a dedicated iPhone application. Simply select your language and start talking instantly. You can easily change settings such as text size, audio pickup range, and selected language from the app.

• Space-saving installation

The only equipment required is a transparent display, one wireless microphone, and an iPhone. This simple configuration allows for installation even in places with limited space. *Wi-Fi and power supply are required. 

*The VUEVO Display is an application of the research results of the Digital Nature Group at the University of Tsukuba* (Representative: Associate Professor Yoichi Ochiai) on subtitle display.

Technical details: https://digitalnature.slis.tsukuba.ac.jp/2021/02/see-through-captions/

*The Company and the University of Tsukuba entered into a special joint research agreement in December 2017 and established the "Digital Nature Promotion Strategic Research Base" (commonly known as the Digital Nature Group powered by Pixie Dust Technologies) within the University of Tsukuba, working toward joint research and the continuous social implementation of research results.

Next deployment

The VUEVO Display is planned to be used at public transportation counters frequented by many foreign visitors to Japan, at hotel and accommodation reception desks, and at the reception desks of commercial facilities and office buildings where hospitality is required.

Forward-Looking Statements

Certain statements contained in this press release are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "aim," "objective," "goal," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Any such forward-looking statements are subject to various risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, including but not limited to the strength of the economy, changes to the market for securities, the effects of inflation and its associated impact on prevailing interest rates, political or financial instability, and other factors which are set forth in the Company's prospectus that forms a part of the Registration Statement on Form F-1 (File No. 333-272476), as amended, and in all filings with the SEC made by the Company subsequent to the filing thereof (including, without limitation, the Company's most recent annual report filed under cover of Form 20-F). The forward-looking statements included in this press release represent the Company's views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

About Pixie Dust Technologies, Inc.

Pixie Dust Technologies, Inc. is a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave technology. The Company is currently focusing on two areas of product development: (1) "Personal Care & Diversity", where wave control technology is applied to mechanobiology and intervention/assistance in vision, hearing, and touch, and (2) "Workspace & Digital Transformation," where metamaterials (technology that creates properties through structure rather than material) and solutions to commercial design problems, such as in offices or construction sites, are applied.

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SOURCE Pixie Dust Technologies

FAQ

What is the VUEVO™ Display launched by Pixie Dust Technologies (PXDT)?

VUEVO™ Display is a transparent screen that provides real-time subtitling and translation in over 100 languages, utilizing proprietary wireless microphone and voice recognition technology.

How does the VUEVO™ Display address communication challenges?

It facilitates communication between staff and customers who speak different languages or have hearing disabilities by displaying real-time subtitles and translations of conversations.

When did Pixie Dust Technologies (PXDT) announce the launch of VUEVO™ Display?

Pixie Dust Technologies announced the launch of VUEVO™ Display on August 2, 2024.

What industries can benefit from Pixie Dust Technologies' (PXDT) VUEVO™ Display?

VUEVO™ Display can benefit industries such as commercial facilities, accommodation facilities, and public transportation that require multilingual customer service.