The company Snap Inc (SNAP) recently acquired a 3D human modeling company. It has a lot of potential for the online retail market. Still, it has also been criticized for its impact on forming false memories due to the possibility of its misuse.
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According to UK accounting records, the company that owns Snapchat, Snap, acquired the machine learning software Ariel AI back in September 2020. The majority shareholder of Ariel AI was Snap CEO Evan Spiegel and CTO Bobby Murphy. Although there is no word on the purchase price, sources indicate that it was made for a substantial price. The figure is probably seven digits by assumption.
Including artificial intelligence (AI) elements into their products is what the Ariel Artificial Intelligence Company does best. The augmented reality is created by inserting a 3D model into the camera’s field of view. Practically, it works like this. A person’s image is scanned, and then the model is converted into a 3D model on a screen. At the same time, the transfer can occur in a completely different location or can be used to visualize another person’s movements.
Fashion, health, fitness, etc., can all benefit from Ariel AI’s work. Snap Inc (SNAP) would greatly benefit from such an acquisition, as it would greatly expand its sales of advertising products and other services. Snapchat has already mentioned that it will improve the AR filter experience and make the Snapchat camera smarter as Ariel’s partner.
While Ariel AI technology itself is viable, it is subject to criticism from practitioners. Particularly, it can create images called deepfakes – objects synthesized from real and overlaid elements. Technology like this could in the future create false memories and false realities that Internet users will be unable to distinguish from reality. Therefore, there is the risk that Snap may eventually experience a backlash from investors and advertisers due to accusations that create fakes are being made. As a result of incorrect information surfacing, advertisers once announced a boycott of the social network Facebook Inc.
Snap Inc (SNAP) has performed well over the past year. Over the past year, SNAP has increased by 177.59%, while the stock has increased by 132.01% in the past six months. The SNAP stock has grown by 10.09% in the past month, and the quarterly performance stands at 27.90%. There was only one negative figure, which is the last week’s performance which was -2.33%.