The world-renowned XR technology exhibition 2024 AWE Asia was held in Singapore from August 26 to 28. Taiwan startup Speed 3D Inc. was once again invited to serve as a speaker at the Asia forum, and discussed the innovative applications of AI and XR technologies in the fan economy with Silicon Valley venture capital experts, which attracted great attention from the industry.
Marvin Chiu, Chairman and CEO of Speed 3D Inc., pointed out in his speech that despite the increasing advancement of AR technology, the high cost of content production is still a bottleneck for the development of the industry. They firmly believe that user-generated content (UGC) will be the key to AR profitability. David Wu, partner of Acorn Pacific Ventures, analyzed the challenges and opportunities of XR monetization from a venture capital perspective and expressed optimism about Speed 3D's innovative business model.
Since 2019, Speed has actively invested in the integration and development of AR special effects and AI technology. The company's smart AR interactive devices Picbot and 3D Picbot have been successfully applied to the digital transformation of theme parks. This year, the company has also crossed over to cooperate with the Chinese Professional Baseball League to launch the AI Virtual Studio, opening up a new world for sports technology.
Marvin said that their AI Virtual Studio not only greatly reduced the cost of content production, but also improved the novelty of the entertainment experience. It has been put into use in major baseball stadiums in Taiwan and is well received by fans. This innovative technology has not only caused a sensation in Taiwan, but also attracted the attention of international companies such as T-mobile in the United States, Tokyo Dome Corp in Japan, and UOB in Singapore.
Speed has maintained an 8-year AR technology partnership with Meta and enjoys a high reputation in the industry. The company plans to continue to develop AI/AR technology and promote fan economy solutions to the global market. Marvin emphasized that they will further expand the application of AI Virtual Studio in the fields of entertainment, film and television, and exhibition halls to create more possibilities for fan economy.
Industry experts believe that Speed's innovative model not only solves the cost problem of AR content production, but also opens up a new blue ocean for the fan economy. With the popularization of 5G technology and the rise of the concept of the metaverse, the combination of AR and AI will bring revolutionary changes to industries such as entertainment and sports.
Looking ahead, the development of Envision will undoubtedly become an important indicator for Taiwan's technology industry to enter the international market. As the company continues to demonstrate its innovative strength on the global stage, Taiwan's competitiveness in the AR/AI field will be further enhanced, injecting new impetus into the international development of the local technology industry.
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