If the artificial intelligence technology being developed by Crowd Media (ASX: CM8) reaches its full potential, there is a pretty good chance you’ll be using it in everyday life for things like banking or doctors appointments. But what may be even more impressive, is that you could be doing it in the Metaverse rather than at your local shopping centre.
While Crowd Media has been vocal in the development of its conversational AI technology that will add visual, audio and intelligence to chatbots, the Company has also commenced exploring its application in the Metaverse.
A digital world being developed by Meta, previously known as Facebook, the Metaverse is widely expected to be an alternate reality where humans can ‘digitise’ their lives and conduct all the things they did on Facebook, but within the Metaverse. Such digital worlds already exist in the likes of Decentraland whose native currency MANA has a market cap of USD $6 billion, but all in current existence will pale in comparison to the Metaverse once it comes online.
Foreseeing this trend in upcoming online activity, Crowd Media CEO, Idan Schmorak confirmed in a recent interview that Crowd has already commenced discussions with Meta about their joint possibilities.
“We’re looking at a bunch of spheres not only the medical tech and not only through services like banks or insurances. We’re also looking heavily into the Metaverse.
“Before Christmas, we’ll show exactly what we’re going to do there. We are going to put our hands in there and we’re going to operate in this sphere heavily because we believe that in the next few years, people will spend more and more time in the Metaverse.
“That’s all I can say right now. But imagine yourself going into the Metaverse and you are able to speak with these kind of digital heads or you are able to represent yourself with a talking head in the Metaverse.”
The digital heads mentioned by Schmorak stem from the digital avatar platform that has been developed by Crowd Media over the past three years, and is on track for a commercial launch in 2022.
Utilising Crowd’s deepfake and voice cloning technology, the platform is able to create digital avatars that look and sound like the original human that was cloned. These avatars can then be powered by Crowd’s conversational AI databank.
Core to the platform’s commercial appeal will be the low bandwidth requirements for Crowd’s digital avatars where the platform has been developed for mass scale adoption. In order to do this, the bandwidth requirements of Crowd’s AI can be fully functional via as little as a 3G connection. This is a space of deep tech very familiar to Schmorak who previously served as a Captain in the Israeli Air Force’s mission control department where communication in remote locations was critical.
According to Schmorak, current iterations of intelligent avatars are costly to run due to their server requirements.
“If you look at it on a scale, it’s not very economical. But we are able to run tens of thousands of communications on very, very low prices, which makes our operational cost very low,” said Schmorak.
As a scalable solution that will facilitate thousands, and potentially millions of avatars at any one time, Schmorak believes Crowd’s platform “allows us to offer this to future clients at a very competitive price.
Although the Metaverse is still relatively new, the long-term plan by Crowd has been to develop the platform so that celebrities and social influencers can create digital avatars of themselves to interact with their millions of fans via individual conversations, but simultaneously.
Having already flagged intentions to reveal the platform’s first commercial deal before March 2022, Schmorak was quietly confident there will be a number of celebrities that will be digitised and using the platform before the end of 2022.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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