- “At this year’s World Artificial Intelligence Conference (WAIC) in Shanghai, Alibaba Group Holding founder Jack Ma spoke on stage at the opening ceremony. But not in person – he appeared as a holographic projection at the event on July 9, which took place mostly online amid the coronavirus pandemic.
- The global AR market is projected to grow nearly 70 per cent annually to reach 287 billion yuan (US$41 billion) by 2024, according to Qianzhan Industry Research Institute. Chinese tech giants including Tencent Holdings, SenseTime and Alibaba are among those developing products in the sector.”
“The small, low-power screens range from basic displays for showing simple head-up information on sports eyewear, through to Full HD, RGB screens that can replicate a smartphone interface as though it’s floating in front of the wearer.”
“Pinterest recently announced “Complete the Look,” which leverages rich scene context to recommend visually compatible results in Fashion and Home Decor Pins. According to the company, “Complete the Look takes context like an outfit, body type, season, indoors vs. outdoors, various pieces of furniture, and the overall aesthetics of a room, to power taste-based recommendations across visual search technology.” This is an excellent example of how computer vision can truly personalize the shopping and sharing experience online and offline.”
- “The benefits of having an augmented reality view and one-touch purchase transaction without having to leave the native messaging application makes the eCommerce interaction super simple and seamless for consumers and changes the retail landscape forever,” comments Scott Starr , LivePerson AVP Retail. “Conversational Commerce leverages humans, artificial intelligence and now AR to deliver more personalized shopping experiences for consumers in the messaging channels they use each day.”
- NexTech has built its AR and AI eCommerce platform as an affordable, scalable, customizable, and most importantly, easy solution to integrate within an existing web interface, making NexTech one of the leaders in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista.
- Gartner reports 100 million consumers will shop in augmented reality online and in-store by 2020. NexTech is building out its AR and AI eCommerce offerings, which include using AI to create a guided and knowledgeable curator that can be programmed to be used for eCommerce, retail and education.”
Image credit: Modular4KC.com
- “The virtual fitting market size to grow from USD 2.9 billion in 2019 to USD 7.6 billion by 2024, at a CAGR of 20.9% during 2019-2024
- The major growth factor for the market is the increase in the adoption of advanced technologies such as AR and VR.
- Another factor that is contributing to the market is the growing eCommerce trend and shift of consumer toward online shopping.
- According to the Census Bureau of the Department of Commerce, the retail eCommerce sales for the fourth quarter of 2018 was USD 132.8 billion.”