AI TECH, GENERAL AI, AI APPLICATIONS
Nextech AR | September 23, 2022
Nextech AR Solutions Corp. , a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and 3D model services is pleased to announce it has launched its groundbreaking Toggle3D, a new AI powered SaaS platform that enables the creation, design, configuration and deployment of 3D models at scale. The Company sees this launch as a major milestone on its way to becoming the dominant 3D model platform and looks forward to Toggle3D becoming a new high margin engine of growth.
Toggle3D is a standalone web application which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge required. The Company believes that Toggle3D is the first platform of its kind, and this break-through SaaS product is a potential game changer for the manufacturing and design industry, as it provides a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale.
CAD is a function of product engineering. Industrial designers, working for product manufacturers, use CAD software like AutoCAD, and SolidWorks to design many of the products in the modern world. The Toggle3D platform leveraged AI so those raw CAD files can be converted to photo realistic, fully textured 3D models at scale. Toggle3D technology creates optimized 3D meshes that are suitable for 3D and AR applications.
The use of CAD files is ubiquitous across manufacturing verticals including; automotive, aerospace, industrial machinery, civil and construction, electrical & electronics, pharmaceutical, healthcare, consumer goods and others. According to BIS Research, the CAD market, quantified by the amount spent on the creation of CAD files, is $11 billion dollars by 2023.1...the Company sees substantial use cases.
Toggle3D uses Nextech AR’s patent pending technology AI (enabling the conversion of CAD files into 3D models at scale) as well as the Company’s ARitize Configurator product. Creators can easily transform their CAD files into 3D models, or bring their existing 3D models into the platform. Within the platform, creators will be able to conduct 3 types of projects which are all templatized for a fantastic user experience: 3D Product Configurators, Virtual Photography, and Product Demos being rolled out over the next few weeks.
To rapidly gain early adopters, Toggle3D will be available both through a free trial and pro SaaS license. A free license will give users just enough functionality to try out the platform and experiment with the technology. By upgrading to a pro plan, users will be granted full access to the entire platform. This includes unlimited projects, more materials, larger file uploads, more storage, and other advanced editing tools. It is a completely self-serve platform, that contains an extensive pre-built library of high-quality over 1000 PBR materials. Toggle3D makes things easy, with a friendly user interface that works for the user and makes the entire 3D journey seamless and predictable. The user is fully in control of their design output.
Yesterday, CEO Evan Gappelberg joined the Wall Street Reporter’s NEXT SUPER STOCK for a livestream event, where he discussed the new Toggle3D product and provided a live demo of the platform.
About ARitize Configurator
ARitize Configurator was previously only available as a managed service but now is also available as a self-serve product through the Toggle3D platform.
To use the product configurator within Toggle3D, a user is required to bring a CAD file or an existing 3D model. Once the 3D model is created or uploaded, the configurator tool makes it easy and seamless to change the colors, materials, and individual parts all in engaging real-time 3D.
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands and all Metaverse contributors.
GENERAL AI, AI APPLICATIONS
Sphera | September 14, 2022
Sphera, a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, announces it has entered into an agreement to acquire riskmethods, a Munich, Germany-based, award-winning software company specializing in supply chain risk management (SCRM).
Founded in 2013, riskmethods’ software as a service (SaaS) solution harnesses cutting-edge artificial intelligence (AI), big data and machine learning to protect its customers’ supply chain networks. Its software platform collects supplier data and real-time information, distinguishes critical signals from “noise” and provides users with detailed status of suppliers, so they can prevent business disruption risk before it materializes and achieve supply chain transparency.
“riskmethods’ cloud-based software identifies, analyzes and helps mitigate all types of supply chain risk, including monitoring sustainability practices and ESG compliance in the supply chain. Their innovative approach to SCRM bolsters Sphera’s capabilities in offering a Scope 3 emissions monitoring and reporting solution and furthers our mission of creating a safer, more sustainable and productive world,” said Paul Marushka, Sphera’s president and CEO. “And their presence in Europe and the U.S. reinforces our ability to serve our expanding global customer base.”
The company’s SCRM software solution is a robust tool for managing risk in increasingly complex supply chains, as well as handling ever-expanding regulatory compliance. With global companies operating in a world of disruption and turbulence—pandemics and climate change, to name a few—riskmethods offers real-time SCRM solutions that enable businesses to proactively manage potential supply chain risks and comply with emerging operational and ESG regulations.
“For the last 10 years, riskmethods has been empowering businesses to master supply chain risk and create reliable supply networks,” said Heiko Schwarz, riskmethods’ CEO and founder. “Adding our advanced AI and machine-learning SCRM software solution to Sphera’s product portfolio will enable us to further our reach across the globe and help even more customers manage supply chain risk. We are excited to join the Sphera family of leading ESG software, data and consulting solutions.”
Kelly Wannop, Managing Director at Blackstone, said, “Blackstone’s 2021 investment in Sphera reflected our conviction in Sphera’s ESG mission and growth. The planned acquisition of riskmethods further demonstrates our commitment to helping Sphera expand their operational ESG solutions.” Eli Nagler, a Senior Managing Director at Blackstone, continued, “We are excited to welcome riskmethods to Sphera and eager to extend their SCRM solutions to even more customers.”
ReedSmith LLP and Simpson Thatcher & Bartlett LLP served as legal advisors to Sphera and Blackstone while Evercore served as the financial advisor. For the sellers, DLA Piper served as legal advisor, and Stifel served as the financial advisor.
Sphera is the leading provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. For more than 30 years, we have served over 6,700 customers and a million-plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.
riskmethods enables organizations worldwide to identify, analyze and mitigate all types of supply chain risk management (SCRM). riskmethods’ software utilizes artificial intelligence (AI) and machine learning to protect its customers’ supply chain network. Its software platform collects supplier data and real-time information, distinguishes critical signals from “noise” and provides users with visibility across multiple tiers of their supply chain, so they can mitigate business disruption risk and achieve supply chain transparency. The company’s 200+ employees across 4 offices worldwide serve more than 225 enterprise customers. More information can be found at www.riskmethods.net.
Blackstone is the world’s largest alternative investment firm. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $941 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.
AI TECH, GENERAL AI, SOFTWARE
CloudFactory | September 12, 2022
CloudFactory, a global leader in human-in-the-loop artificial intelligence (AI), today announced that it has completed the acquisition of Hasty, a data-centric machine learning (ML) platform that allows companies to build and deploy vision AI applications faster and more reliably. Combined with CloudFactory’s best-in-class workforce, the acquisition will provide clients with all the essential components needed to accelerate the development of high-performing models.
“We're seeing our most successful clients shift from manual data labeling to AI-assisted labeling, and from a model-centric to a data-centric approach. “This shift requires best-in-class labeling automation and tools to work on the model and the data in tandem - enabling rapid feedback and fast iterations."
Mark Sears, CEO of CloudFactory
Hasty's platform provides users with natively built, AI-assisted automation capabilities that reduce manual data work and maximize workforce productivity. Hasty brings agile methodologies to vision AI by retraining models during labeling. This agility provides the insight needed for data scientists and engineers to focus on the data–enabling teams to optimize models iteratively throughout the entire development process.
The acquisition of Hasty fits into CloudFactory's strategy to lead in more aspects of the AI development lifecycle. Integrating Hasty's AI-assisted labeling and data-centric platform with CloudFactory's human-in-the-loop AI solutions will bring ML models into production faster.
CloudFactory is a global leader in combining people and technology to support the AI development lifecycle. Their human-in-the-loop AI solutions, powered by more than 7,000 expertly trained and managed data analysts, are trusted by AI leaders at 700+ companies, including Microsoft, Mitsubishi, Ibotta, Expensify, and Matterport. Founded in 2010 and with offices on four continents, CloudFactory is on a mission to create economic and leadership opportunities for talented people in developing nations.