V2.5 Consolidation of the market position of ARway in spatial computing navigation
The Company also announces the appointment of Nidhi Kumra, CA, CPA, to the Board of Directors and Chairman of the Audit Committee
TORONTO, ON / ACCESSWIRE / July 5, 2023 / ARway.ai (“ARway” or the “Company”) (CSE:ARWY)(OTC PINK:ARWYF)(FSE:E65) is an AI-powered augmented reality experience platform with a disruptive code-free spatial computing solution and beacon-free enabled by visual indicator Centimeter-accurate tracking heralds a number of transformative updates with its 2.5 release, including AI-assisted route tracking that meets the demand for inclusive, accurate and intuitive navigation solutions, new visually stunning navigation path styles, advanced authoring tools, and more.
Watch a video showing ARway V2.5 – Click here
ARway.ai’s revolutionary technology continues to redefine indoor navigation, creating a seamless interplay of digital and physical environments. This update introduces sophisticated features that deliver significant benefits for a range of industries, from retail and hospitality to corporate sectors and digital marketing agencies.
The highlights of the ARway V2.5 version are:
- AI-assisted Pathfinding: Improved turn-by-turn navigation now supports wheelchair accessible and walkable routes, meeting the demand for user-friendly, accurate and inclusive navigation solutions.
- Engaging Path Styles: Visually appealing path styles are introduced, which should unlock new monetization opportunities and contribute to potential revenue growth.
- Advanced tools for creators: Creators get more control with updated floor plan controls, advanced map search, and the introduction of draft maps. Accuracy meters for tracking location accuracy during map creation are also part of this update.
- Improved onboarding experience: New and enriching onboarding tutorials for key features, making ARway’s innovative technology more accessible to new users in various industries.
- Full list of positions: A broader view of destinations is now available in the Location Directory, allowing businesses to highlight and monetize specific products or areas.
The release of V2.5 has far-reaching implications for ARway’s business. As ARway continuously evolves to meet the dynamic demands of AR applications, it strengthens its market position as a key player in the industry. The breadth of its feature offerings and improved user experience enable ARway to attract and retain a larger customer base, driving the company’s growth and profitability.
Additionally, the new features demonstrate ARway’s technology leadership and ongoing commitment to innovation. Staying at the forefront and setting new standards in the AR navigation space, ARway continues to differentiate itself in the IPIN market.
As these improvements are rolled out and widely adopted across the broad range of industries served by ARway, the company anticipates significantly increased customer acquisition rates, which in turn will drive revenue growth and improve shareholder value.
Changes to the Board of Directors and the Control Committee
The Company also wishes to announce the appointment of Nidhi Kumra, CA, CPA, to the Board of Directors and as Chairman of the Audit Committee.
Nidhi is an accounting and finance professional with over 15 years of experience in audit, finance and business operations. Nidhi graduated with a Bachelor of Business Administration from the Schulich School of Business. He has a Chartered Professional Accountant / Chartered Accountant (CPA, CA) designation. Nidhi began her career at KPMG, where she worked for over 9 years and quickly rose to senior manager in the audit and assurance practice, working as a team leader on large engagements with public and private clients. She also served as VP Finance for a global marketing agency and helped lead a nationwide implementation of an end-to-end ERP system across the company. Previously, Nidhi led the finance team at Labatt Breweries, a subsidiary of AB InBev, a Fortune 500 company. He was a key strategic partner working on business transformation through systems implementations, corporate budget design, and guided acquisition integrations . Most recently, Nidhi served as CFO of entrepreneurial start-ups in the CPG, technology and marketing sectors. He served as CFO of a public company where he helped the company grow through the evaluation, analysis and acquisition of strategic investments. As CFO, Nidhi has helped companies help through strategic acquisitions, obtaining debt and equity investments, liquidation process and also sales process. He focuses on growing companies by applying his strengths in strategy, accounting, finance and tax.
Jeff Dawley resigned as a member of the Board of Directors and as Chairman of the Audit Committee for personal reasons, effective June 30, 2023. Mr. Dawley confirmed that he has no disagreements with the Board and there are no other matters relating to a his resignation which must be brought to the attention of the shareholders of the Company. The Company and the Board of Directors would like to thank Mr. Dawley for his contributions and wish him well in his future endeavors.
To find out more about ARway, follow us on social media: Twitter, YouTube, Instagram, LinkedIn and Facebook and visit our website: www.arway.ai
ARway.ai (CSE: ARWY) (OTCQB: ARWYF) (FSE: E65) is an artificial intelligence (AI) powered spatial computing platform that provides a variety of augmented reality (AR) experiences for indoor spaces. ARway’s innovative no-code no-beacon IPNN allows easy creation of navigation, tours, information sharing, notifications, advertising and gamification. ARway works perfectly as a cross-platform solution on iOS/Android. ARway’s technology is optimized for both mobile devices and AR glasses: Vision Pro from Apple, Magic Leap and HoloLens from Microsoft. ARway has unlimited use cases for augmenting physical spaces, making it an invaluable tool for creators, brands, and businesses across various industries. The complete ARway platform includes: the Web Creator Studio, the ARwayKit Software Development Kit (SDK) and a mobile app for ios AND Android.
On October 26, 2022 ARway.ai. was spun off from its parent company, Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2). Nextech has maintained a controlling property in ARway.ai. with 13 million shares, or a 50% stake. Nextech3D.ai is a Metaverse company and a leading provider of augmented reality (“AR”) experience technologies and 3D modeling services. Nextech’s AI-powered 3D modeling platform, ‘ARitize3D’ has contracts with; AMZN, KSS, CB2, OEM parts and many more. To know more about Nextech3D.ai, visit www.nextechar.com
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Certain information contained herein may constitute “forward-looking information” under Canadian securities laws. In general, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of such words and phrases or statements that certain actions, events or results “will occur.” Forward-looking statements relating to the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. ARway.ai will not update any forward-looking statements or forward-looking information incorporated by reference herein, except as required by applicable securities laws.
SOURCE: Arway company
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