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Nextech AR Solutions Corp
Symbol C : NTAR
Shares Issued 42,837,872
Close 2018-12-24 C$ 0.60
Recent Sedar Documents

Nextech begins combining IBM's AI with AR platform

2018-12-27 09:09 ET - News Release

Mr. Evan Gappelberg reports

NEXTECH TO INTEGRATE IBM WATSON'S MACHINE LEARNING INTO AI FOR AR ECOMMERCE PLATFORM

Nextech AR Solutions Corp. has begun integrating IBM Watson's machine learning (ML) algorithms into its patent-pending, Web-enabled augmented reality platform. With this integration, Nextech AR Solutions is quickly building out a next-generation, industry-first, artificial-intelligence-based AR e-commerce solution. With AI, the platform will now be able to offer scanning of the body, hands and feet, as well as facial features, to understand an individual shopper's style, sizes and preferences, as well as creating AR holograms acting as personal shopping assistants. The AR e-commerce platform is expected to exit beta and have a commercial launch in January, 2019, with AI features beginning to roll out in February, 2019.

"So far, AR has proven to be a very effective way to bring the in-store experience to the home in an engaging way; so rather than customers visiting a brick-and-mortar store, AR allows them to experience 3-D products and services right in their homes," commented Evan Gappelberg, chief executive officer of Nextech AR Solutions. "With AI and AR working together, the home shopping experience becomes complete; it becomes intelligent; it's no longer just a 3-D product view. With AI, the product comes with a product expert seen as a hologram, as well as a virtual try-on-at-home platform for clothing, sneakers, hats, makeup, jewellery, eyewear and more, reducing returns by as much as 80 per cent and increasing sales by as much as three times. With AR and AI technologies working together on our AR e-commerce platform, this feels like a truly revolutionary and magical moment for Nextech as it ushers in a new era of on-line shopping experiences."

According to Statista, global e-commerce sales in 2018 will hit over $2.8-trillion dollars, with 60 per cent occurring on a desktop computer and 40 per cent happening on mobile devices. Nextech AR Solutions' Web-enabled AR e-commerce solution works on every browser, including, but not limited to, Google Chrome, Firefox and Safari, as well as on every device, including desktops, laptops, iPads and all mobile phones. With a Web-enabled AR solution, Nextech AR Solutions has eliminated the need to download an app, which has been the biggest friction point of AR adoption.

With the integration of IBM Watson's ML offerings, Nextech AR Solutions' Web-enabled AR platform will offer a full suite of advanced AI/AR mixed reality experiences. With one omniplatform having both AR and AI, all three of the company's verticals (e-commerce, education and training), as well as AR live streaming, will offer the full suite of AI/AR mixed reality product offerings.

About Nextech AR Solutions Corp.

Nextech AR Solutions is bringing augmented reality to the cannabis market by turning 2-D products into exciting 3-D consumer experiences. Nextech AR Solutions is currently developing a proprietary and disruptive augmented reality advertising and education platform that uniquely engages by connecting brands and retailers through a fully immersive 3-D AR experience called Native AR. Nextech AR Solutions launched its ARitize app in August, 2018, which is capable of hosting many brands' 3-D objects and augmented reality experiences. Nextech AR Solutions also owns a large and diverse revenue generating app portfolio that is deployed on the iTunes and Google Play store which it intends to ARitize.

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