Latest news with #AugmentedReality
Yahoo
3 days ago
- Business
- Yahoo
The CIC Launches "Centre for Future Construction"
Drive Innovation and Empower the Next Generation Workforce HONG KONG, May 30, 2025 /PRNewswire/ -- The Construction Industry Council (CIC) yesterday celebrated the official opening of the "Centre for Future Construction" (CFC), marking a significant milestone in Hong Kong's construction industry development. The ceremony took place at the Hong Kong Institute of Construction - Kowloon Bay Campus, officiated by Ir Joseph LO, Head of Project Strategy and Governance Office, Development Bureau, together with Ir Prof. Thomas HO, Chairman of the CIC, Ir Albert CHENG, Executive Director of the CIC, Prof. Jack CHENG, Chairperson of Centre for Future Construction Project Steering Committee, and Mrs. LO LEE Oi-lin, Chairperson of the Hong Kong Institute of Construction Management Board, bringing over 2,000 experts, leaders, government officials, and industry professionals to support the event both online and offline and to celebrate this historic moment. Spanning over 10,000 square feet, the CFC features five interconnected zones, including the Digital Twin Hub, 4S Hub, AI Hub, Robotic Hub, and Immersive Cave. Each zone showcases advanced construction technologies such as digital twin applications, AI-powered safety solutions, robotics, and Virtual Reality (VR) / Augmented Reality (AR) immersive training tools. By fostering collaboration and providing hands-on learning opportunities, the CFC aims to equip young talents with the skills and knowledge needed to excel in the evolving construction sector. The opening ceremony commenced with welcome remarks from Ir Prof. Thomas HO, Chairman of the CIC. He emphasised the importance of embracing the AI era and developing a new quality productive force. "Today marks a significant milestone in our journey to revolutionise the construction industry and prepare our future generations to embrace cutting-edge technologies," he stated. "We hope that the Centre for Future Construction will be the beacon of innovation for the construction industry in Hong Kong, guiding the way for the talents of the construction industry." Ir Joseph LO, Head of the Project Strategy and Governance Office at the Development Bureau, delivered the opening address, "The Government is fully committed to spearheading transformative changes within our industry. In this transformative journey, the CIC has always been our closest partner. The CFC will nurture our new generation and will foster a culture of professionalism for the HK construction industry. So, I call upon everyone to unite our expertise and collaborative efforts to lead our industry into a new era of future construction." Prof. Jack CHENG, Chairperson of Centre for Future Construction Project Steering Committee, introduced the CFC's mission to serve as an industry-wide collaborative and learning platform. The event featured keynote presentations from four industry pioneers, Mr. Kevin O'BRIEN, Chief Executive of Gammon Construction Limited, Mr. Alex KWAN, Chief Executive Officer, Asia of Global Infrastructure Solutions Inc., Mr. Peter LEE, Head of Commercial Business of Microsoft Hong Kong, and Mr. Raymond JIAN, Director and Partner of RoboticPlus. Their insightful sharing reveals how AI can be leveraged to explore the transformative potential of technology by thinking out of the traditional mindsets, building smarter infrastructure, and propelling industry success. Ir Albert CHENG, Executive Director of the CIC, concluded the event with closing remarks, reaffirming the CIC's commitment to fostering a digitally advanced and safe construction sector. "We anticipate that the Centre for Future Construction will attract over 24,000 visits annually. These facilities will be utilised in more than 100 of our existing courses, including master classes, advanced diplomas, diplomas, and various short-term courses, providing them with a dynamic environment to explore the future of construction," he added. The ceremony was followed by an exhibition, allowing attendees to explore the CFC's innovative facilities and how the industry can collaborate with the centre and the opportunities for training initiatives. The CFC aims to empower the workforce of tomorrow by providing hands-on training and fostering partnerships with industry leaders. By integrating advanced technologies and innovative training programmes, the CFC is poised to shape the future of the construction industry, driving productivity and safety. An Overview of the Centre for Future Construction The Centre for Future Construction is located on the 3/F of the Hong Kong Institute of Construction - Kowloon Bay Campus, covering over 10,000 square feet and divided into five zones. 4S Hub Displays Smart Site Safety System (4S) - related equipment, such as Central Management Platform, AI alert system, and offers visitors to try on the smart wearable devices, including safety helmets and smart watches. AI Hub Hosts technology-related workshops and showcases the Safety Large Language Model developed in collaboration with the industry, allowing participants to experience the latest AI applications that being used in construction projects. Digital Twin Hub Brings the concept of Building Information Modelling (BIM) to City Information Modelling (CIM) and showcases successful projects and technologies including BIM, Geographic Information System (GIS), IoTs and connectivity technologies to help the industry understand the development of smart cities. Immersive Cave Utilises Reality Capture and Mixed Reality technologies including Virtual Reality (VR) Cave and AR mobile app for interactive learning, deepening the understanding of how BIM can integrate with physical environment. Robotic Hub Features advanced construction robots, such as automated drilling robots and wall finishing robots, allowing trainees to operate and experience their efficiency and safety benefits. - End – About the Construction Industry Council The Construction Industry Council (CIC) was formed in 2007 under the Construction Industry Council Ordinance (Cap. 587). The CIC consists of a chairman and 24 members representing various sectors of the industry including employers, professionals, academics, contractors, workers, independent persons and Government officials. The main functions of the CIC are to forge consensus on long-term strategic issues, convey the industry's needs and aspirations to the Government, provide professional training and registration services, and serve as a communication channel between the Government and the construction industry. Please visit for further details. View original content to download multimedia: SOURCE Construction Industry Council
Yahoo
16-05-2025
- Business
- Yahoo
Vuzix Smart Glasses Power Enterprise Deployments in Warehouse and Logistics for Major Multinational
ROCHESTER, N.Y., May 16, 2025 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of AI-powered smart glasses, waveguides, and Augmented Reality (AR) technologies, today acknowledged a public post made by Amazon on LinkedIn, which highlighted the use of Vuzix smart glasses to enhance warehouse operations. According to the post, the smart glasses are supporting Reliability and Maintenance Engineering (RME) teams by enabling "see what I see" functionality—allowing central experts to virtually diagnose and resolve complex equipment issues in real time. This approach is improving safety, accelerating repairs, and enhancing productivity within large-scale logistics facilities. Vuzix smart glasses have been purchased by the customer and are currently deployed to support maintenance operations and remote collaboration. "This is another clear example of how Vuzix smart glasses are delivering real-world value to some of the world's most sophisticated enterprises," said Paul Travers, President and CEO of Vuzix. "We're proud to support customers embracing wearable technologies to drive safety, efficiency, and digital transformation at scale." About Vuzix Corporation Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 425 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, X and Facebook pages. Forward-Looking Statements Disclaimer Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship and future business opportunities with Amazon, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at or Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Vuzix Media and Investor Relations Contact: Ed McGregor, Director of Investor Relations,Vuzix Corporationed_mcgregor@ Tel: (585) 359-5985 Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,Investor Information – IR@ View original content to download multimedia: SOURCE Vuzix Corporation
Entrepreneur
15-05-2025
- Business
- Entrepreneur
Maverick Simulation Solutions Invests INR 50 Cr in R&D to Advance Medical Training Innovation
The R&D efforts will focus on prototype development, engineering, clinical integration, and content creation, with all work to be conducted in India. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Maverick Simulation Solutions, a manufacturer of simulation solutions for medical and nursing education, has announced an investment of over INR 50 crore into its research and development division. The investment aims to drive product innovation across its line of Task Trainers, High-End Simulators, and CPR Trainers, while integrating advanced technologies like Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR) into its training solutions. The R&D efforts will focus on prototype development, engineering, clinical integration, and content creation, with all work to be conducted in India. Academic institutions will assist in testing and feedback to ensure real-world relevance. Founded with a focus on 3D scanning and printing, Maverick entered the medical simulation space in 2019 and began manufacturing simulators by 2021. Today, it works closely with premier institutions like AIIMS, DRDO, and IITs to improve hands-on healthcare training and reduce clinical errors. Anuj Chahal, Founder and CEO of Maverick Simulation Solutions, said, "The future of healthcare education depends on how well today's students are trained for real clinical challenges. Our goal is to change how training is delivered. With this R&D investment, we want to improve product design, introduce new technologies like AR and VR, and make training more realistic and repeatable. Our aim is to impact more than 250 institutions and reach INR 300 crore in revenue in the coming year." Maverick's product range includes made-in-India simulators such as injection trainers, breast examination models, vascular access tools, airway management units, and advanced systems like LuSi and Test Chest. Dr Sunil Tomar, Director at Maverick, added, "Simulation-based learning plays an important role in helping students gain clinical confidence. Access to such tools is becoming essential for medical education." With this strategic investment, Maverick aims to strengthen its leadership in India's healthcare training market by developing affordable, high-quality, and locally designed simulation tools—extending their reach to institutions in rural and semi-urban areas as well.
Associated Press
15-05-2025
- Business
- Associated Press
The Glimpse Group Reports Q3 Fiscal Year 2025 Financial Results
Reaffirm Revenues and Second Consecutive Quarter of Positive Cash Flow NEW YORK, NY / ACCESS Newswire / May 15, 2025 / The Glimpse Group, Inc. ('Glimpse') (NASDAQ:VRAR)(FSE:9DR), a diversified Immersive Technology platform company providing enterprise-focused Virtual Reality ('VR'), Augmented Reality ('AR') and Spatial Computing software and services, provided financial results for its third quarter fiscal year 2025, ended March 31, 2025 ('Q3 FY '25"). Business Commentary by President & CEO Lyron Bentovim Financial Summary: Recent Business Updates: Q3 Fiscal Year 2025 Conference Call and Webcast Date: Thursday, May 15, 2025 Time: 9:00 a.m. Eastern time USA Dial In: 888-506-0062 International: 973-528-0011 Participant Access Code: 633925 Webcast: Please dial in at least 10 minutes before the start of the call to ensure timely participation. A playback of the webcast will be available through Friday, May 15, 2026. A replay of the teleconference will be available through Thursday, May 29, 2025. To listen, please call USA: 877-481-4010 or International: 919-882-2331; Replay Passcode: 52387. A webcast will also be available on the IR section of The Glimpse Group website ( ) or by clicking the webcast link above. Note about Non-GAAP Financial Measures A non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States of America, or GAAP. Non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. Other companies may use different non-GAAP measures and presentation of results. In addition to financial results presented in accordance with GAAP, this press release presents adjusted EBITDA, which is a non-GAAP measure. Adjusted EBITDA is determined by taking net loss and adding interest, taxes, depreciation, amortization and stock-based compensation expenses. The company believes that this non-GAAP measure, viewed in addition to and not in lieu of net loss, provides useful information to investors by providing a more focused measure of operating results. This metric is an integral part of the Company's internal reporting to evaluate its operations and the performance of senior management. A reconciliation of adjusted EBITDA to net loss, the most comparable GAAP measure, is available in the accompanying financial tables below. The non-GAAP measure presented herein may not be comparable to similarly titled measures presented by other companies. About The Glimpse Group, Inc. The Glimpse Group (NASDAQ:VRAR) is a diversified Immersive technology platform company, providing enterprise-focused Virtual Reality, Augmented Reality and Spatial Computing software & services. Glimpse's unique business model builds scale and a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into this emerging industry via a diversified platform. For more information on The Glimpse Group, please visit Safe Harbor Statement This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release may contain certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements, if provided, are based on information available to the Company as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements, if provided, include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as 'anticipate,' 'believe,' 'view,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'should,' and 'would' or similar words. All forecasts, if provided, are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, any forecasts, if provided, are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. Company Contact: Maydan Rothblum CFO & COO The Glimpse Group, Inc. (917) 292-2685 [email protected] THE GLIMPSE GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS THE GLIMPSE GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) THE GLIMPSE GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) The following table presents a reconciliation of net loss to Adjusted EBITDA for the three and nine months ended March 31, 2025 and 2024: SOURCE: The Glimpse Group, Inc. press release
Phone Arena
15-05-2025
- Business
- Phone Arena
Price is Right contestants send Apple a thinly-veiled message about Vision Pro pricing
The four contestants knew that the device was made by Apple and that they were looking to price a high-end consumer tech product, which made them bid high but not close to the actual value of the device. The highest bid and the winning one was $1,250, about one-third of the aforementioned starting price of $3,499 for Vision Pro . What does this mean? Well, one could come to the conclusion that Apple is selling the Vision Pro for too high a price. In other words, Apple didn't need to pay a high-priced consultant to be told that it needs to produce a less complex version of its mixed reality headset with a less expensive price tag. If four consumers looking at the Vision Pro for the first time think that the device is valued at $1,250 or less, it means that either the bidders have no real idea about everything that the product does, or Apple seriously needs to build a version of the headset that costs $2,000 or less. All four Price is Right contestants bid way too low for the Vision Pro, sending Apple a thinly veiled message. | Image credit-Threads The tech giant is reportedly working on a new version of the Vision Pro , although it isn't clear whether it will be a full-priced second generation model or a lower-priced sequel. I would like to think that had any of the four bidders been PhoneArena readers, that person would have had the closest bid without going over. This doesn't mean that the Vision Pro was a flop. It just means that Apple will need to make adjustments to the product. Besides, the ultimate goal for Apple isn't to produce a mixed reality headset but to create a lightweight pair of Augmented Reality (AR) smart glasses that will use computer generated graphics displayed over a live real time video feed to deliver the same capabilities of the iPhone on a device that costs about the same price as a compatible iPhone Pro Max model.
