Snapchat is arguably once of the leaders in the field of artificial intelligence (AI). The parent company, Snap, also the rightful owner of Snapchat has made a huge leap in the field of artificial intelligences. Right after Christmas, reports started coming in that Snap has put in plans to acquire Cimagine, an Israel-based firm dabbling in AI technology.
Cimagine is a well-known start-up in the tech industry and it is the creator as well as owner of an up and coming eCommerce service, known as True Marketless Augmented Reality (AR).
According to Calcalist, this buyout is reportedly in the ballparks of US$30 to US$40 million, which is incredible. This move will be followed by vigorous works by Snap on the research that places a huge amount of focus on AI technology and also whatever Cimagine has in its plans, which is an AR-powered eCommerce service that gives users the opportunity to place furniture and appliances virtually in their homes to let them see how it will fit before purchasing them.
These 2 companies, Snap and Cimainge seem complementary since such a well-synced pairing should work well since it allows Snap to increase its reach on AI-powered platforms as well as get in touch with new and improved AR visualisation advancements as it gets a further push to move into the eCommerce arena.
Although there has been numerous reports and rumours, there has yet to be an official comment released by Snap or Cimagine.
A Dentist-To-Be Dabbling in Tech Journalism: