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Snap INC, owner of Snapchat has launched a new feature that will allow other companies to build augmented reality features for their websites or apps. This new feature comes in the form of a division that will be dedicated to helping businesses improve the quality of their content.
ARES
This new division is called AR Enterprise Services (ARES). This marks the first time that snap would sell its AR technology to other enterprises, which can enhance photos and videos of the real world with computerized images, said Jill Popelka, head of ARES, in an interview.
Snapchat has been at the forefront of the advancements happening in the field of AR technology with its popular AR filters that over 250 million people with it every day. The AR filters originally became popular among younger users who could add whimsical elements such as bunny ears. The tech industry received this announcement with excitement as many companies have been trying to leverage AR on their apps and have been approaching Snapchat to leverage their existing technology. Now, they would finally be able to do just that.
Pricing And Product
This new venture comes as Snap is looking to diversify its revenue beyond digital advertising, which currently makes up a great majority of its revenue.
ARES’ first product is called Shopping Suite and will provide tools for brands to build features that allow customers to virtually try-on clothes or view a product from all angles in 3D, which could help increase sales and reduce returns. Popelka said that the pricing model for business customers will be “very flexible.” There are even arrangements that could be done with clients that could allow Snap to earn a percentage of product sales driven by Snap‘s AR tools, she added.
Snap INC’s AR technology has been able to have an edge over other players in the space due to the use of Artificial intelligence, which helped shave off 40 to 60 hours in the creation of high-quality 3D images, which can now be done in as little as a few hours, Popelka said.
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