{"id":391529,"date":"2020-12-02T07:33:09","date_gmt":"2020-12-02T12:33:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=391529"},"modified":"2020-12-02T07:33:09","modified_gmt":"2020-12-02T12:33:09","slug":"nextech-ar-launches-new-artificial-intelligence-division","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nextech-ar-launches-new-artificial-intelligence-division\/","title":{"rendered":"NexTech AR Launches New Artificial Intelligence Division"},"content":{"rendered":"<div class=\"mw_release\">\n<ul type=\"disc\">\n<li>\n          <em>NexTech is expanding its technology stack by launching a new AI division <\/em>\n        <\/li>\n<li>\n          <em>The Company is establishing a transformative internship program with AI students at <\/em><br \/>\n          <em>Northeastern University<\/em><br \/>\n          <em> and others<\/em>\n        <\/li>\n<li>\n          <em>The global AI market revenues are expected to surpass $300 billion in 2024, creating a new substantial market <\/em><br \/>\n          <em>opportunity for<\/em><br \/>\n          <em>NexTech<\/em><br \/>\n          \n        <\/li>\n<\/ul>\n<p>VANCOUVER, British Columbia, Dec.  02, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OSovC2H6zqZrM1O56K8U2pFpZAuhIUkRpKZRrIlBXAg_MjzhfT5fnUy5i5lSTZ_vNtlOYy9kpCa9EdSpurh48juFmA0riLkd3lAimFz61dw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>NexTech AR Solutions<\/u><\/a>\u00a0(NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for virtual and hybrid eCommerce, education, conferences and events today announced the creation of its new Artificial Intelligence (AI) division. Through a dedicated initial team of three AI experts focused on enhancing NexTech\u2019s AI capabilities, the company aims to gain a competitive edge and create new portfolio offerings to complement its AR; streamlining operations for clients while tapping into a market that is expected to surpass $300 billion in revenues by 2024.<\/p>\n<p>NexTech\u2019s Mirjana Prpa, AR Product Manager, and the new head of the AI division, will drive efforts to identify, develop and deploy AI capabilities within the Company\u2019s existing AR technology and virtual experience portfolio. She will lead a growing team that will include new AI experts and a substantial number of interns. The NexTech AI program plans to create automation within the AR content creation space in order to build a self-service AR platform that easily works for everyone, turning everyone into AR creators. The AI program will give back to students while also tapping into their untapped potential and insight by developing an internship program, starting with computer science students at the nearby Northeastern University in Vancouver.<\/p>\n<p>The internships offered by NexTech\u2019s AI division will provide students with a unique hands-on learning experience that equips them with the tools they need to establish their careers in AI and AR. NexTech aims to create a mutually beneficial experience where students will be able to grow with the company by working on various AI-focused projects. In addition, NexTech is committed to creating long-term opportunities that will allow students to work closely with the NexTech team in real-world AI applications.<\/p>\n<p>NexTech is building this new AI division with the goal of becoming a leader in AR which it believes can only happen with the merging of these two potent technologies. The team will utilize AI within the content creation of the company\u2019s AR solutions that allow users to not just experience AR but also to create their own experiences, through the support of AI for AR. The ultimate goal is to harness the power of AI to offer a self-serve AR solution for everyone.<\/p>\n<p>\u201cI\u2019m excited to lead NexTech\u2019s AI division and work towards the goal of making AR accessible to everyone. By creating a program that connects academia with industry experts, we hope to create long term relationships with students by recognizing their talents and offering them opportunities to aid in their professional development,\u201d says Mirjana Prpa, Product Manager for AR and Head of the AI Division. \u201cThe potential of AI in AR applications is limitless; we\u2019re only just starting to scratch the surface with this newfound program. Through the work of professionals and students who are learning new applications and approaches for AI integration, coupled with our growing team at NexTech, we hope to create experiences unlike any other currently available that combine the mesmerizing potential of AR with the streamlined efficiency of AI.\u201d<\/p>\n<p>Evan Gappelberg, CEO of NexTech says, \u201cAs one of the leaders in the Augmented Reality market, we are excited to continue our leadership and development with the introduction of our AI division as well as our internship program. NexTech\u2019s growth and competitiveness within the market remains an important aspect of the company\u2019s identity, especially as we work to extend our capabilities and services into the rapidly growing AR\/AI markets.\u201d<\/p>\n<p>To learn more about NexTech AR, please visit\u00a0<strong><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hN9V3KPt7uQzbFWQZiNugqFN0ULTmbYf-2fNgNZoGf6rSIYdentyiI9KzXsCLdjkuT2BcvG7kDYv9Mbb5kPEJsNsTS7oFn-J6qN4dxPJg9M=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.nextechar.com<\/a><\/u><\/strong>.<\/p>\n<p>\n        <strong>About NexTech AR<\/strong>\n      <\/p>\n<p>NexTech is one of the leaders in the rapidly growing\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fpS-uOrwL8E9_x4BaCJY-OZrH7aEWPb52W5N2dgrif81qeTY_grvTDFM-PqeubGGJbH-iSo7H9fqpYBJXCpaUKHB9NlEYKeARqioOVpcXH8t27P5LbqGY6aWM8uCuMSUY7tAs7T6EEUybJP4dE2ZIsGR3NMHZXWLmYEnhrpu-MqDu9F2kZ_xkMI7qd_xlrfn3Vg-WwZYAXQRXylVctJRQFAQ7olSyq1cRH1AB6YWdPwSMqiVQb87RDY994Gd_QsaThT1ys5ynyX-XMznH7WlmlpbyS9Ebjg9NZMfQHmrsg9P6F_uuSZSmiWCc5lgKkP07cwbgUi4D5oduB-QTXYTNgZ52EaVxf8-mLzcc-q_yCnHpaaWrUa8R_033bTmnNWN-RS2cyGoRgCWeMnlGylXQD_Bv3k8x1b1AYOZ9V6mDl7Hm1YpmMMZHDGirds4PsGF7B8uAI0dC-_oY70076f90I4Msixxi3CYmcvuVadsBDUuz3fPPDDs-b4LEBXl-MJf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>Augmented Reality market\u00a0<\/u><\/strong><strong><u>estimated to grow from USD $10.7B in 2019<\/u><\/strong><strong><u>\u00a0and projected to reach USD $72.7B by 2024 according to Markets &amp; Markets Research; it is expected to grow at a CAGR of 46.6% from <\/u><\/strong><\/a><strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=vduhpuI6GBved7Czv3O3fIbXWl7nQN8LoONN4Ut2vYIXDPpXAjWFzbSr-BmPxPM6KQV4_1IlW7FwnNcc3l1SjS8wkT9hg-8n610_rUMGkqXUGnAgWYpG_rnzuzdYE0T_kvRmII3DDxaK5vK4Y6e4osZSA-QUiw8AQUcgrjWqZemGEcnPEu2h1KYQm4zthBYUB-ipGrSg_YRaSinWyLZvlpCWuC7KK2qUfTp4uWoaLqsteFa_LeE1UAr46wxE8QVj\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>2019 to 2024<\/u><\/a>.<\/strong><\/p>\n<p>\n        <strong>The company is pursuing four verticals:<\/strong>\n      <\/p>\n<p>\n        <strong><br \/>\n          <u>InfernoAR:<\/u><br \/>\n        <\/strong>\u00a0An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world\u2019s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=WUaog5ANBiZdFtO-ma0XuZhvCttW8lND8jGOK8ZmkhJguuQWaSRB-_tpcwvQT_i5WdznqclelKkJCpH6MnPGU4BRtYc23vFh2ydXYnwQ6OX3XTRcW9PV4uf_301t3A8KjEklNOl9tGoTk_zYtW5w7NjLPMvHb1jigcVE21efBMMVYngMQHMqGc-m3aFlScL1QZSxThwgynj_duxLoj_V_HZrs9Kn9GRPKuXCbWjVh26wiWaZ1_fn99EMxU9q3qTa6dClU38tKyoY3mg99clQbKYjxTBqlWpcf-lxxK1_Rk6VbxXVkVi8zLIdi85dZqEp\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>Grandview\u00a0<\/u><\/strong><strong><u>Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR<\/u><\/strong><\/a><strong>.<\/strong> With NexTech\u2019s InfernoAR platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.<\/p>\n<p>\n        <strong><br \/>\n          <u>ARitize\u2122 For eCommerce:<\/u><br \/>\n        <\/strong>\u00a0The company launched its SaaS platform for webAR in eCommerce early in 2019. NexTech has a \u200b\u2018full funnel\u2019 end-to-end eCommerce solution for the AR industry including its Aritize360 app for 3D product capture, 3D\/AR ads, its ARitize white label app it\u2019s \u2018Try it On\u2019 technology for online apparel, 3D and 360-degree product views, and \u2018one click buy\u2019.<\/p>\n<p>\n        <strong><br \/>\n          <u>ARitize\u2122 3D\/AR Advertising Platform:<\/u><br \/>\n        <\/strong>\u00a0Launched in Q1 2020 the ad platform will be the industry&#8217;s first end-to-end solution whereby the company will leverage its 3D asset creation into 3D\/AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.<\/p>\n<p>\n        <strong><br \/>\n          <u>ARitize\u2122 Hollywood Studios<\/u><br \/>\n        <\/strong>: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.<\/p>\n<p>To learn more, please follow us on\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fl3_rHDzQRY6rPqd5XrVJy0XUNKyXBLHohg0cfmY3W7Nyv1zJLTibumTABLkm9Bg_6DJwuepuBje9PBFs8PqdQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>Twitter<\/u><\/strong><\/a>,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=80Hds6_oY37-w7v7Yw2VVEzbmlrQg7u0pRspfNucxMHIJOGEYCzMnzrfYpRWxZ4AFKmZgEQU11F9VFH--MiE4imqafK6DlxcRS0Ezyu4Hiq1DDqNnH7s26ZKav8nl8Yvik95FSVTxFcxIUWe4YUpuQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>YouTube<\/u><\/strong><\/a>,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4y615yPkaPWXcqC4NGO6znYEah9_97g63c12NNC5yqTaG84U-JXanO3oGDA1tjWXQTpAtlkVZGV126R1Ag15X-0CYYSbht1_QVrH_tzuQDw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>Instagram<\/u><\/strong><\/a>,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BQ2qD4t_6EMkFYkGQRb76ugFeDhQoVhqEgdrUZ9Mjm7F_SoYabrxqh1w5tnip0uNEV-m70ziRTphR0Pr_4Fc3FEOEHcFh3BLjkVTcfEdBBBORHCuFYU2_UbcjXZucBiL\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>LinkedIn<\/u><\/strong><\/a>, and\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fq7PSIeyjoFrxEuIHUMLF-YWPK6Fcpr2-nigijNlqc4boKbf3mqsBi3sVjU6chW9IAK-6z6AOtnanaeVEWbtTYuy_EWIKu1b36FugCJiPko=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>Facebook<\/u><\/strong><\/a>, or visit our website:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rUrY9bDZycjhelKQgWoTPDqESTRRWTpn1CiNxNjTzBgksD-UjAYhbCM1Nn4pAgUzbwA2kOKUF_qCzB0wVXz4a3uKLvnwddaASNvGnadxl8k=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><u>https:\/\/www.nextechar.com<\/u><\/strong><\/a>.<\/p>\n<p>\n        <strong>On behalf of the Board of NexTech AR Solutions Corp.<\/strong><br \/>\n        <br \/>\u201c<em>Evan Gappelberg<\/em>\u201d CEO and Director<\/p>\n<p>For further information regarding the internship program, please contact:<\/p>\n<p>Mirjana Prpa<br \/>Head of AI Division<br \/><strong><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_cAnw8UTf6SST4kNks8Av4OfV9SctUCzEMQlOXTkzgCFmm8uVXLP3C8wEGGSTRfB45uOXAFhVHvLQba_vVYBQ-2r-p4ido7t-UNgetHVTPsXvNdXuKN_FMvWJsLS39Qv\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">mirjana.prpa@nextechar.com<\/a><\/u><\/strong><\/p>\n<p>\n        <em>The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.<\/em>\n      <\/p>\n<p>\n        <em>Certain informa<\/em><br \/>\n        <em>tion contained herein may constitute \u201cforward-looking information\u201d under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, \u201cwill be\u201d, \u201clooking forward\u201d or variations<\/em><br \/>\n        <em> of such words and phrases or statements that certain actions, events or results \u201cwill\u201d occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company\u2019s estimates and are subject to known and unknown risks, <\/em><br \/>\n        <em>uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information,\u00a0incl<\/em><br \/>\n        <em>uding capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not pl<\/em><br \/>\n        <em>ace 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 l<\/em><br \/>\n        <em>aws.<\/em>\n      <\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTE3NCMzODUyMTU2IzIxNzk5OTM=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/ac790fe8-38e2-46ce-b98d-179f114191ff\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NexTech is expanding its technology stack by launching a new AI division The Company is establishing a transformative internship program with AI students at Northeastern University and others The global AI market revenues are expected to surpass $300 billion in 2024, creating a new substantial market opportunity for NexTech VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; NexTech AR Solutions\u00a0(NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for virtual and hybrid eCommerce, education, conferences and events today announced the creation of its new Artificial Intelligence (AI) division. Through a dedicated initial team of three AI experts focused on enhancing NexTech\u2019s AI capabilities, the company aims to gain &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextech-ar-launches-new-artificial-intelligence-division\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;NexTech AR Launches New Artificial Intelligence Division&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-391529","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NexTech AR Launches New Artificial Intelligence Division - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextech-ar-launches-new-artificial-intelligence-division\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NexTech AR Launches New Artificial Intelligence Division - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NexTech is expanding its technology stack by launching a new AI division The Company is establishing a transformative internship program with AI students at Northeastern University and others The global AI market revenues are expected to surpass $300 billion in 2024, creating a new substantial market opportunity for NexTech VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; NexTech AR Solutions\u00a0(NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for virtual and hybrid eCommerce, education, conferences and events today announced the creation of its new Artificial Intelligence (AI) division. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/nextech-ar-launches-new-artificial-intelligence-division\/","og_locale":"en_US","og_type":"article","og_title":"NexTech AR Launches New Artificial Intelligence Division - Market Newsdesk","og_description":"NexTech is expanding its technology stack by launching a new AI division The Company is establishing a transformative internship program with AI students at Northeastern University and others The global AI market revenues are expected to surpass $300 billion in 2024, creating a new substantial market opportunity for NexTech VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; NexTech AR Solutions\u00a0(NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for virtual and hybrid eCommerce, education, conferences and events today announced the creation of its new Artificial Intelligence (AI) division. 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