Canadian-born director James Cameron has emerged as one of Hollywood's hottest entrepreneurs by cashing in on the 3D technology he created for Avatar. 

The director behind Hollywood’s two highest-grossing films – Avatar and Titanic – set the bar for 3D technology with cameras he developed himself and now rents through his Cameron Pace Group.

Cameron believes the market for 3D is still in its infancy and will grow, as a means of getting audiences who have many other options into cinemas and keeping them there. He plans to test the prospects for 3D conversions with Titanic 3D, to be released in commercial cinemas on Wednesday.

The director who dove to the wreck of the great ocean liner before making his 1997 blockbuster Titanic was determined to create a conversion that looked as if it had been meant to be in 3D.

"To convert this movie to 3D required the work of over 300 artists working for about 60 weeks," he told CBC News. "You really have to outline by hand every single object, sculpt the faces, sculpt the clothing and all that and do it for every single frame. It's incredibly time-consuming and labour intensive to do it right."

In an interview with CBC News, Cameron explains why he’s so keen on the format and talks about his passion for undersea exploration.