The global artificial intelligence market has grown rapidly in recent years due to digital technology and heavy investments by tech giants. According to market research, the market size of AI is expected to reach $1.5 trillion by 2030, with a registered CAGR of 38.1% from 2022 to 2030.
The North American artificial intelligence market was valued at $147.58 billion in 2021, accounting for 43% of the market share in 2022.
The Asia Pacific market is expected to grow at the highest CAGR of 42% from 2022 to 2030. The use of AI in various industries such as automotive, healthcare, banking & finance, manufacturing, food and beverages, logistics, and retail is expected to significantly drive the growth of the global artificial intelligence market in the forthcoming years.
In the adult toy industry, AI and wearable sex toys have the potential to revolutionize the market, which is expected to be worth $62.32 billion by 2030.
One company to keep an eye on in this space in the AI-power sex toy market is BYND Cannasoft Enterprises Inc. (BCAN).
We are watching for an impulsive break out of this wedge for our squeeze potential
Watch for a volume over 25k the first hour of market open for possible move, and over 200k on daily close.
Volume will precede the move, key indication of our push coming and an impulsive break to the upside.
On January 17, 2023, BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) announced that in addition to the US Provisional Patent Application with serial number 63/297,009 that was filed on January 6, 2022, covering the monitoring and controlling aspects of its EZ-G device, the company filed a full-scale PCT application on January 5, 2023, under serial number PCT/IL2023/050016.
The PCT application is based on BYND Cannasoft’s prototype of the EZ-G device that is currently under development and its operational aspects as a learning adult device. The PCT application further claims priority from the US Provisional application and covers an adult device with a structure and one or more moving and vibrating elements.
In addition to potentially treating annoying phenomena in the female reproductive system, the EZ-G device includes technological advancements as a sex toy with a more realistic experience. The EZ-G device prototype uses sensors like a pressure sensor, temperature sensor, conductivity sensor, and heart rate sensor to determine what specifically enhances the users’ pleasure.
The EZ-G device uses artificial intelligence (AI) to transmit and receive data from the device’s sensors on conditions of the user’s sexual organs, such as moisture levels and pressure variations due to muscle contraction. The EZ-G prototype includes a Bluetooth component for controlling the adult device via an app installed on a smartphone or other portable device to collect user information about preferences and generate custom programs.
The data collected from the sensors is uploaded to the secured cloud, where it is combined with other antonymic user preferences, including the actual duration of operation of the adult device, lubrication level, and the ideal vibration level.
This information optimizes the operation of the device to satisfy the user sexually. The EZ-G device uses the collected secure data to learn the users’ responses and improve its operation to bring the user sexual satisfaction.
Wearable tech has seen tremendous growth in recent years. When most people think of wearables, they think of fitness trackers and smartwatches, but there is also an emerging trend in wearable sex toys.
The excitement of a sex toy and the thrill of clandestine public stimulation have contributed to this trend. Cannasoft intends to take advantage of the growth in the sextech market, which is expected to reach $62.32B by 2030.
According to Forbes, companies are working to innovate products that have an intelligent response to sexual activity to take advantage of this expected growth.
Yftah Ben Yaackov, CEO and Director of BYND Cannasoft said:
“The EZ-G device has evolved to provide treatment relief from sexual and mental problems, including the ability to have intercourse as it relates to anxiety and physical pain. The device is capable of enhancing sexual pleasure and reducing sexual pain by dispensing low concentrations of C-B-D oil lubricant in a controlled manner. It could be configured to use disposable capsules that include the C-B-D lubricant, which could be dispensed in accordance with data collected by the sensors. The sale of the disposable capsules containing the C-B-D lubricant would provide BYND Cannasoft with a revenue model much like the razor and the razor blade.”
Sexual wellness is an underfunded industry that is set to explode as sexual taboos continue to lift. Sextech — which has evolved from a male-centric vice industry to a female-centric wellness business — is here to enhance everything from pleasure to medicine.
As a relatively new player in the adult toy market, BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) (CSE:BYND) has the advantage of being an early mover and can establish itself as a leader in the space.
Another advantage of BYND Cannasoft Enterprises Inc. is its experienced leadership team. The company is led by a team of experienced executives who have a proven track record of success in multiple industries.
IT’S TIME TO MEET
Meet Yftah Ben Yaackov – a professional lawyer with over 15 years of experience in the real estate industry. Not only is he a licensed notary since 2014, but he has also managed large-scale projects worth over 400 million NIS. In the past five years, Yftah has amassed an incredible amount of experience and knowledge in the medical cannabis industry by assembling the business activity of two of the largest medical cannabis companies in Israel. As the CEO and Director of BYND Cannasoft Enterprises Inc., Yftah brings a wealth of expertise and knowledge to the table.
In 1986, Mr. Maram partnered to found a computer company that mainly provided services to EXATEC-compliant IBM AS 400 computers and sales and service to the first PCs in the world. After identifying a need for CRM and ERP software, Maram and his partner, Avner Tal, established a software company that manufactures CRM and ERP management software called BENEFIT in 2000.
Mr. Tal currently serves as the Technology Director of Beyond Solution Company. After studying electronics and control, he served in the Navy on the team that implemented and developed the technology that included “smart” missiles. He came to BYND Cannasoft Enterprises after working with Moti Maram to establish the computer company that supported Exatech computers and its innovative network.
Gabi is a seasoned finance and operations professional with over 20 years of experience supporting accounting, finance, and IT operations in complex corporate settings. Since 2009, Mr. Kabazo has been with TELUS Telecommunications Company. From 2002-2011 he served as CFO for m-Wise Inc. He received B.A from TAU and M.B.A from UBC in Accounting & Economics.
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