Matterport Boosts its Digital Twin Technology with New AI Integration

Technology company Matterport has introduced an artificial intelligence integration that will automatically measure and label rooms in a property, with CEO RJ Pittman describing it as a "power tool" for customers looking for practical AI uses during their property search.

The new feature is currently in beta testing and will be rolled out for both Matterport's 2D and 3D digital twin solutions when it officially hits the market.

The integration also boasts the ability to calculate square footage and primary components in rooms such as kitchens, bedrooms and bathrooms—a feature Pittman says will significantly ease homebuyers' ability to plan specific upgrades and other needs when browsing a home remotely.

In a statement, Pittman said:

"I’m excited to see the progression of our digital twins helping customers put AI and automation to practical use for their properties.

"Instant access to room dimensions, total square footage by room, floor, and the entire space, builds upon one of our most popular features—Measurement Mode.

"With our new intelligent digital twins, our customers get hundreds of useful measurements, room names, print-ready layouts and more, automatically."

In June, Matterport introduced another integration by the name of Genesis, a generative AI component with extensive use cases including reimagining physical spaces by staging properties with optimized wall placements; insights on energy efficiency and energy consumption; identifying safety and security risks such as fire hazards or code violations; and proactively surfacing common maintenance and repair issues for older buildings.

Matterport has gone through significant layoffs this year—a reported 170 job losses in July constituted 30% of Matterport's total workforce—yet optimism around the company and its technology potential holds firm, with artificial intelligence integrations like this month's another string to Matterport's bow.

The company continues to be loss-making but the California-based firm is edging towards profitability and achieved increased revenues and subscriber numbers in its Q2 results released in August.

Share prices remain volatile, with Google Finance showing that yesterday's (September 26, 2023) $2.16 per share is a shrinkage of 172% since November 2021's high of $28.9 per share.