With a commercial launch in sight for its talking head system, the new CEO of conversational artificial intelligence technology developer Crowd Media (ASX: CM8), Idan Schmorak, has revealed that there will be other implementations along the way. 2022 to open up new sources of income.
Mr. Schmorak said technological breakthroughs will allow the company to offer multiple solutions in the future, including new applications and extensions of its talking head conversational artificial intelligence technology.
Over the past 12 months, Crowd has strengthened its technical know-how and intellectual property related to conversational AI technology.
Its teams are working on the deployment of the first commercial talking head system based on this technology early next year.
Mr Schmorak said that throughout 2022, the company will also showcase and market its technology in “various use cases” with deals already under negotiation.
The company targets spaces such as medicine, business-to-business (B2b), digital influencers, business-to-business-to-consumer (B2B2C) and other areas.
In the medical field, Crowd is finalizing the development of its proof of concept medical assistance product for the South African company PangeaMed.
Crowd integrates their conversational Q&A and visual talking head technology for PangeaMed to create a digital human version of a healthcare provider, who can interact with patients.
It is expected that the proof of concept will be released in the March quarter of next year.
The company’s subscription division, which specializes in creating and monetizing mobile content, will have access to the development of its own talking head mobile content.
Marketing is also scheduled for the March quarter.
In the B2B space, Crowd says he’s looking for other opportunities, including kiosks, hospitality, services and e-learning.
Conversational AI technology and market
In developing its conversational one-on-one AI system, Crowd must integrate three pillars: visual, audio and conversational.
The visual component requires creating human-like digital doubles that can communicate in real time, while the audio involves generating human-like text-to-speech that is also real time.
When developing the conversational part or âthe brainâ behind the conversation, the technology must understand the user’s intentions and provide a consistent response.
To ensure that these goals are met, the company has partnered with companies to find the best technological solutions.
Crowd estimates that the conversational AI market was worth $ 6 billion in 2019.
This figure is expected to reach $ 22.6 billion by 2024.