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Roblox (RBLX) Launches AI-Driven Avatar and Texture Tools
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Roblox (RBLX - Free Report) recently introduced Avatar Auto Setup and Texture Generator, two new tools to speed up 3D content creation. These tools are powered by Roblox's AI and aim to make the process faster and easier for creators.
Avatar Auto Setup simplifies the process of creating avatars by automatically converting 3D body meshes into live, animated avatars with just a click. Previously, this process could take days but now it only takes minutes, thanks to Auto Setup.
Texture Generator lets creators experiment with different looks for their 3D objects by using text prompts. For instance, if a creator wants to create a texture for a wooden treasure chest, they can describe what they want and the Texture Generator will create a texture that matches their description.
Both Avatar Auto Setup and Texture Generator are designed to help creators iterate and scale their projects faster, removing the need to spend hours on manual avatar setup and texturing tasks. These tools are part of Roblox's efforts to empower its community of creators with advanced technologies to enhance the creative processes.
These innovations are expected to boost the company’s daily active users (DAUs) and total hours engaged in the upcoming quarters.
The Zacks Consensus Estimate for RBLX’s 2024 DAUs is pegged at 81,479, indicating year-over-year growth of 19.1%. The consensus mark for total hours engaged is pegged at 71,287.1, indicating year-over-year growth of 18.7%.
Roblox has been using AI to introduce new features on its platform, such as the full rollout of Code Assist and automatic chat translations in February 2024. During the 11-month beta of Code Assist, which suggests lines of code as creators’ type, users adopted about 300 million characters of suggested code. Toya Play's software development team reported a 5% increase in efficiency using Code Assist, thus saving them months of work.
Since the launch of automatic chat translations, users worldwide can easily communicate regardless of language. In just 30 days, usage of Roblox’s TextChatService, which supports this feature in creators’ experiences, has more than doubled. This surge in engagement has led to 19.7 billion translated messages so far, making up about one-third of all messages sent on Roblox. It has also provided valuable feedback from international users to creators.
These new Roblox features are expected to gain customer attention and fend off competition from big players.
Meta Platforms has been exploring the metaverse since its rebranding in late 2021, leading in AR and VR technologies. Meta is now integrating AI into its metaverse strategy, aiming to revolutionize virtual environments. This includes implementing AI-driven features like voice commands through its Builder Bot project and introducing custom AI chips such as the Meta Training and Inference Accelerator to enhance immersive experiences.
Qualcomm's venture into the metaverse was due to its collaboration with Meta, demonstrating its dedication to shaping immersive digital experiences. Qualcomm's focus on generative AI through Snapdragon platforms positions it as a strong contender in the metaverse and generative AI sectors, therefore indicating its readiness to capitalize on emerging opportunities in these realms.
NVIDIA's expertise lies in producing powerful graphics hardware capable of handling massive calculations in parallel, making it crucial for running large-scale metaverse projects. Recently, NVIDIA unveiled the Blackwell platform, featuring chips significantly faster and more energy-efficient than the H100, promising advancements in AI performance and efficiency.
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Roblox (RBLX) Launches AI-Driven Avatar and Texture Tools
Roblox (RBLX - Free Report) recently introduced Avatar Auto Setup and Texture Generator, two new tools to speed up 3D content creation. These tools are powered by Roblox's AI and aim to make the process faster and easier for creators.
Avatar Auto Setup simplifies the process of creating avatars by automatically converting 3D body meshes into live, animated avatars with just a click. Previously, this process could take days but now it only takes minutes, thanks to Auto Setup.
Texture Generator lets creators experiment with different looks for their 3D objects by using text prompts. For instance, if a creator wants to create a texture for a wooden treasure chest, they can describe what they want and the Texture Generator will create a texture that matches their description.
Both Avatar Auto Setup and Texture Generator are designed to help creators iterate and scale their projects faster, removing the need to spend hours on manual avatar setup and texturing tasks. These tools are part of Roblox's efforts to empower its community of creators with advanced technologies to enhance the creative processes.
These innovations are expected to boost the company’s daily active users (DAUs) and total hours engaged in the upcoming quarters.
The Zacks Consensus Estimate for RBLX’s 2024 DAUs is pegged at 81,479, indicating year-over-year growth of 19.1%. The consensus mark for total hours engaged is pegged at 71,287.1, indicating year-over-year growth of 18.7%.
Roblox Corporation Price and Consensus
Roblox Corporation price-consensus-chart | Roblox Corporation Quote
RBLX’s Recent AI Efforts to Fend Off Competition
Roblox has been using AI to introduce new features on its platform, such as the full rollout of Code Assist and automatic chat translations in February 2024. During the 11-month beta of Code Assist, which suggests lines of code as creators’ type, users adopted about 300 million characters of suggested code. Toya Play's software development team reported a 5% increase in efficiency using Code Assist, thus saving them months of work.
Since the launch of automatic chat translations, users worldwide can easily communicate regardless of language. In just 30 days, usage of Roblox’s TextChatService, which supports this feature in creators’ experiences, has more than doubled. This surge in engagement has led to 19.7 billion translated messages so far, making up about one-third of all messages sent on Roblox. It has also provided valuable feedback from international users to creators.
These new Roblox features are expected to gain customer attention and fend off competition from big players.
Shares of this current Zacks Rank #3 (Hold) company have lost 20.8% year to date against the Zacks Consumer Discretionary sector’s 1.3% growth due to tough competition from big players like Meta Platforms (META - Free Report) , Qualcomm (QCOM - Free Report) and NVIDIA (NVDA - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Meta Platforms has been exploring the metaverse since its rebranding in late 2021, leading in AR and VR technologies. Meta is now integrating AI into its metaverse strategy, aiming to revolutionize virtual environments. This includes implementing AI-driven features like voice commands through its Builder Bot project and introducing custom AI chips such as the Meta Training and Inference Accelerator to enhance immersive experiences.
Qualcomm's venture into the metaverse was due to its collaboration with Meta, demonstrating its dedication to shaping immersive digital experiences. Qualcomm's focus on generative AI through Snapdragon platforms positions it as a strong contender in the metaverse and generative AI sectors, therefore indicating its readiness to capitalize on emerging opportunities in these realms.
NVIDIA's expertise lies in producing powerful graphics hardware capable of handling massive calculations in parallel, making it crucial for running large-scale metaverse projects. Recently, NVIDIA unveiled the Blackwell platform, featuring chips significantly faster and more energy-efficient than the H100, promising advancements in AI performance and efficiency.