CES 2024 recently concluded, showcasing the latest innovations in XR technology, AI advancements, and funding milestones for various companies. Here are the notable highlights from the event and developments in the industry:
AI Takes Center Stage at CES, Surpassing Hype: Contrary to expectations, AI was not at its peak hype during CES 2024. While AI has been a buzzword in recent years, the attention seemed to have shifted towards other emerging technologies. However, that does not diminish the significance of AI in shaping the future of various industries.
Rokid Secures $70 Million Funding: Rokid, a prominent AR glasses manufacturer catering to both enterprises and consumers, recently completed a funding round of approximately $70 million. The funding was led by the Hefei Municipal Government, with CEC Capital serving as its Exclusive Financial Advisor. This investment aligns with Beijing’s efforts to bolster the production of advanced technology domestically.
Luma Raises $43 Million for AI-Powered 3D Modeling: Luma, a company specializing in AI-driven 3D modeling, has successfully secured $43 million in its Series B funding round. Prominent investors, including Andreessen Horowitz, joined in this funding milestone. With this latest capital injection, Luma’s valuation is estimated to range between $200 million to $300 million. The total funding raised by Luma has now surpassed $70 million, emphasizing the market’s confidence in the potential of AI and 3D modeling.
Tech Companies Experience Workforce Reduction: In a recent wave of layoffs, several tech companies, including Google, Twitch, Discord, Instagram, Humane, Amazon’s Audible, and MGM, announced cuts in their workforce. Notably, Google eliminated a significant portion of its AR hardware teams. Despite the recent hype surrounding their joint venture AR headset with Samsung and Qualcomm, this move aligns with Google’s trend of prioritizing certain operations over spatial computing initiatives.
Unity Technologies Undertakes Layoffs Amid Restructuring: Unity Technologies, known for its widely-used game engine, has announced a significant restructuring effort involving layoffs. The company intends to concentrate on its core operations to ensure sustained and profitable growth. The current round of layoffs amounts to approximately 25% of Unity’s workforce, with 1,800 jobs affected. This decision follows previous staff reductions, including a notable 265 layoffs in November.
Rec Room Introduces Full-Body Avatars: Rec Room, a popular virtual reality platform, has announced the upcoming introduction of full-body avatars in its upcoming March 2024 update. This beta feature will allow users to opt for more immersive avatar representations or continue using the classic floating bean-body style. Other enhancements include an improved inverse kinematics system, ensuring smoother and more natural movements within the virtual environment. Speculations also suggest future updates might include full-body tracking and finger tracking capabilities.
While CES 2024 witnessed significant developments, it was also notable for what was absent. The anticipated Apple Vision Pro, set to launch in limited quantities on February 2, stole the spotlight despite its absence. With its entrance into the XR space, Apple is expected to make a significant impact.
Overall, as the XR industry progresses, it is clear that AI technologies, AR glasses, and advancements in 3D modeling continue to receive substantial attention and investment. The market’s response to these innovations suggests a promising future for XR and its applications in various sectors.
For more in-depth coverage of CES 2024 and the latest developments in XR and AI, you can explore our podcast, This Week in XR, hosted by industry experts Ted Schilowitz and Rony Abovitz, available on Spotify, iTunes, and YouTube.
Sources:
– https://www.roadtovr.com/ces-2024-ar-vr-bt/
– https://www.lifepulsehealth.com/pr/newsdesk/rokid-completes-nearly-70m-https-wp-me-p8jmzp-2z8%e2%80%8b/
– https://venturebeat.com/2024/01/11/luma-sells-ai-to-create-3d-models-for-businesses/
– https://www.theverge.com/2024/1/11/22221828/google-ar-vr-hardware-team-layoffs-disbanded
– https://uploadvr.com/unity-technologies-lays-off-1800/
– https://recroom.com/blog/2024/01/12/introducing-full-body-avatars/
