Innovative Eyewear, Inc. Announces New Verbal Translation Feature for the Lucyd ChatGPT App
Rhea-AI Summary
Innovative Eyewear (NASDAQ: LUCY) has announced a significant update to its Lucyd app, introducing a new verbal translation feature. The app, which was the first to enable voice access to ChatGPT in smart eyewear, now supports real-time translation between 17 languages, including Chinese, Japanese, and Arabic.
The translation feature operates through a streamlined interface that allows users to speak and hear in their preferred language through Lucyd eyewear or their phone. Notable capabilities include offline functionality, automatic speech and text display of translations, and native device language model integration. The app has already garnered over 18,000 downloads and offers a Pro version at $7.99/month for unlimited ChatGPT queries and secure Walkie channels.
Positive
- None.
Negative
- Translation feature currently in beta phase
- Limited device compatibility until full release next month
News Market Reaction – LUCY
On the day this news was published, LUCY gained 5.72%, reflecting a notable positive market reaction. Argus tracked a peak move of +6.5% during that session. Argus tracked a trough of -8.5% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $525K to the company's valuation, bringing the market cap to $10M at that time. Trading volume was above average at 1.5x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
We believe the new Translation feature is a strong addition to the app, that adds fluid, voice-based translations for users of Lucyd eyewear and other hearables. Translation is an often-cited use case for wearables, particularly useful for travel applications, and we believe it provides incredible new utility for Lucyd eyewear users. The feature is in open beta, available to all users on the latest version of the app. Feedback can be submitted via the support form within the app. A full release with expanded device compatibility is anticipated in the next month.Translation comes to the Lucyd app, free for all users.
Key features of the update:
- Translate between 17 languages in real time, including Chinese, Japanese and Arabic.
- Streamlined and flexible interface allows user to speak and hear their preferred language on Lucyd eyewear or their phone, while the other person speaks to and hears the phone in their preferred language.
- The app automatically speaks and displays translated phrases, so users can hear or read translations.
- No cumbersome typing, just pick your languages and start conversing.
- The user can rapidly switch between languages, with only a one-time brief load for languages to be downloaded when first used.
- The app uses native device language models for smooth rendering of voice input with no typing needed. Other translation apps often require typing for accurate non-English language inputs, while the Lucyd app runs well on voice alone thanks to the use of device-based languages.
- Once languages are downloaded, the translation function can be used completely offline, making it ideal for travel even in areas with no reception.
Harrison Gross, CEO of Innovative Eyewear, said "The Lucyd app is a vital tool for introducing new features to complement our smart eyewear releases, as well as providing valuable services to other Bluetooth device users who have not yet switched to Lucyd. In addition to bridging our users to the powerful ChatGPT AI via Siri and Bixby, the app has introduced other critical features such as Walkie. Now, with Lucyd Translate, our glasses become an incredible ally for travels abroad, and for speaking with colleagues across language barriers—even when missing an internet connection. Translation is an often-cited "killer app" for wearable products, and we are pleased to offer a refined, glasses-forward approach to this important feature. I highly encourage everyone reading this to download the Lucyd app and use it to facilitate your next cross-language conversation."
In advance of any significant marketing effort, the Lucyd app has been downloaded over 18,000 times. A paid Pro version of the app allows users to subscribe for
To see the Lucyd app in action or download it, visit Lucyd.co or search "Lucyd" in the App Store or Google Play Store.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
Forward Looking Statements
This press release contains certain forward-looking statements, including those relating to the Lucyd Translate feature on the Lucyd app. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."
Investor Relations Contact:
Scott Powell
Skyline Corporate Communications Group, LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com
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SOURCE Innovative Eyewear, Inc.
FAQ
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