Unity Software (U) is Set to Release Generative AI Marketplace
Unity Software U recently announced that it is planning to release a generative artificial intelligence (AI) marketplace for video game developers.
Video game developers regularly spend considerable resources on building assets like sound effects and characters. With Unity’s marketplace, developers will be able to use technology like artwork generator to instantly create content.
Generative AI is trending since Open AI’s ChatGPT launch last year. ChatGPT is trending because of its human like responses and its ability to generate computer codes. After ChatGPT, many software firms have adopted AI projects to capture the game changing technology.
Unity Software recently launched a program for developers only to experience the company’s future AI offerings.
Generative AI has been available for some time now, including creators like DALL-E and Stable Diffusion. But the newer version of AI can create video games based on text prompts only.
Unity recently launched a teaser video showing how software developers can type a text like ‘add two seconds of thunder’ or ‘make them flying alien mushrooms’ and the codes will be generated rather than doing it manually from scratch.
Unity Software Inc. Price and Consensus
Unity Software Inc. price-consensus-chart | Unity Software Inc. Quote
Gaming Companies Rush to Invest in AI
This Zacks Rank #3 (Hold) company is looking to Invest in Artificial Intelligence, which is the future of the gaming industry. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Unity Software have decreased 71.1% in the past year compared with the Zacks Computer and Technology sector’s decline of 14.1% in the same period.
Unity Software reported breakeven earnings for fourth-quarter 2022, missing the Zacks Consensus Estimate of 1 cent per share. Revenues increased 43% year over year to $451 million, which missed the Zacks Consensus Estimate by 4.09%.
The big gaming giants, which have already started investing in AI, are Tencent TCEHY, NetEase NTES and The NFT Gaming Company NFTG.
Chinese video game studios are rushing to invest in AI generated content. NetEase, the second largest video game service has announced ChatGPT-like service in Justice Online, its flagship mobile game. Tencent is already using AI to improve gaming contents like character movements in its games.
The NFT Gaming Company recently announced that it has acquired AI assets of Voxpow and will integrate the same in its gaming portfolio. Voxpow is known for its AI-powered speech-recognition technology with natural language processing that identifies more than 100 languages and variants.
Artificial Intelligence will not only make it easier for video game developers to develop new games but also create a more interactive and personalized experience for the gamers, which is believed to be the future of the gaming industry.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NetEase, Inc. (NTES) : Free Stock Analysis Report
Tencent Holding Ltd. (TCEHY) : Free Stock Analysis Report
Unity Software Inc. (U) : Free Stock Analysis Report
The NFT Gaming Company, Inc. (NFTG): Free Stock Analysis Report
To read this article on Zacks.com click here.