VERSES AI Inc. (CBOE CANADA:VERS) (OTCQX:VRSSF) ("VERSES'' or the
"Company”), a cognitive computing company specializing in the next
generation of artificial intelligence (“AI”), announces the release
in June 2023 of an AI industry report titled “THE ROAD TO AUTONOMY:
A Path To Global AI Governance”.
The report combines the legislative expertise from
Dentons, the world’s largest multinational law firm, and the AI
acumen of VERSES with the guidance on technical standards from the
Spatial Web Foundation to provide an in-depth analysis of the legal
and key legislative trends from across the world on the state of AI
regulation and recommendations for a path forward for government
regulation of AI.
The report aspires to pioneer a fresh approach for
legal practitioners, government regulators, and lawmakers, to keep
pace with the rapid technological advancements and to guide their
adaptation. The critical aspect of the report is to promote the
adoption of standards for what VERSES considers "law as code." The
objective is to encode laws and legal principles into an
understandable, machine-readable language that will facilitate the
comprehension and autonomous compliance of AI systems with legal
frameworks and social norms.
The report analyzes the unprecedented challenges
presented by the emergence of AI and autonomous software, devices,
and vehicles addressing fundamental questions like, "How can
governments regulate AI systems that are on a path to regulating
themselves? How can humans stay in the loop to ensure AI alignment
with human values, principles, and laws, while guaranteeing fair
and equitable services for all individuals and communities? And,
how do we encode and enforce AI laws directly in AI systems
themselves?
The report critically examines the transformative
power of rapidly evolving technologies such as AI systems and their
impending impact on legal, regulatory, and government sectors and
accentuates the crucial need for developing and adopting standards
that foster the understanding, governance, and interoperability of
AI and autonomous systems. The report underscores the role of these
technical standards in shaping dynamic and effective laws to
regulate, oversee, and contemporize AI activities.
The goal of the report is to provide governments,
regulators, and legislators with a pragmatic framework that not
only informs but also provides a roadmap for policymaking,
legislation, and compliance efforts in the field of AI. This is
relevant to the flourishing autonomous vehicle industry, while also
serving as a fundamental guide for all future AI-driven systems.
Emphasizing the urgency of a globally unified, forward-thinking
approach to AI governance, the report signals the vital need for
standards development and deployment as the world navigates the
pathway to Autonomous Intelligent Systems (“AIS”).
Significantly, the report points to the
instrumental role of sociotechnical standards, as demonstrated by
the work of the Institute of Electrical And Electronics Engineers
IEEE P2874 Working Group. This initiative from the world's largest
association of technical professionals, underscores the importance
of aligning AIS with human values and reducing the risk of harmful
behavior.
The report also highlights the European
Commission's Flying Forward 2020 (“FF2020”) project for
successfully implementing these standards. Led by VERSES and
running on its KOSM platform, the FF2020 project featured
autonomous AI-powered drones executing various tasks, such as
medical supply delivery, building security inspection, and large
crowd monitoring, all while adhering to local laws. The project
exemplifies how the seamless integration of standards for AI with
Urban Air Mobility and current legal and regulatory frameworks
could improve the implementation of AI-powered services at city
scale and beyond.
The report envisions the application of these
standards to a host of sectors, including healthcare, education,
finance, supply chain and more, paving the way for a smarter world
with AI seamlessly operating behind the scenes.
"AI is advancing at an unprecedented pace, raising
concerns about the direction of its future trajectory. As AI
evolves towards autonomous systems, the need for regulation becomes
critical. We must address the challenge of regulating
self-regulating AI to ensure alignment with human values and
prevent potential risks. By implementing global technical standards
and establishing an international AI regulatory framework, we can
harness the immense benefits of AI while safeguarding against its
potential perils," stated VERSES CEO, Gabriel René.
"We are thrilled to collaborate with VERSES on
this report, as the challenge of regulating AI raises complex and
often novel questions of law for our clients and regulators. We
hope this report provides a new way of thinking about AI
regulation, and provides important insights to key stakeholders who
are wrestling with new AI regulatory frameworks and are trying to
strike an appropriate balance between innovation and moderation,"
said Peter Stockburger, Partner at Dentons US LLP.
In summary, the report calls for a safe, effective, and
inclusive journey down the "Road to Autonomy," ensuring that future
AI systems are not just technically advanced but also aligned with
the best interests of humanity, both now and in the future. With AI
influencing every sector, this insightful report offers pragmatic
recommendations for a more secure, innovative, and integrated
AI-driven future. The full report will be available on the VERSES,
DENTONS, and Spatialweb.org websites in June 2023, with the
executive summary already available for preview.
About VERSES
VERSES is a cognitive computing company
specializing in next-generation AI. Modeled after natural systems
and the design principles of the human brain and the human
experience, VERSES flagship offering, GIA™, is an Intelligent
Assistant for everyone powered by KOSMOS™, a network operating
system enabling distributed intelligence. Built on open
standards, KOSM transforms disparate data into knowledge
models that foster trustworthy collaboration between humans,
machines, and AI, across digital and physical domains. Imagine a
smarter world that elevates human potential through innovations
inspired by nature. Learn more at VERSES, LinkedIn,
and Twitter.
About Dentons Dentons is
designed to be different. As the world's largest global law firm
with 21,000 professionals in over 200 locations in more than 80
countries, Denton’s can help you grow, protect, operate and finance
your business. Denton’s polycentric and purpose-driven approach,
together with their commitment to inclusion, diversity, equity and
ESG, ensures they challenge the status quo to stay focused on what
matters most to you. www.dentons.com
About the Spatial Web
Foundation The Spatial Web Foundation is a
non-profit organization dedicated to the development and ethical
use of technology, specifically in the creation and implementation
of the Spatial Web protocol. The foundation's core initiatives
include developing open standards and protocols, promoting
interoperability, and educating the public and policymakers. The
foundation supports transparency and accountability in the
development and use of technology, promotes responsible innovation,
engages in dialogue and collaboration with various stakeholders,
and adopts a proactive approach to addressing emerging ethical
challenges. Ultimately, the Spatial Web Foundation seeks to create
a more inclusive, accessible, and equitable internet that empowers
individuals and communities to connect, create, and thrive.
On Behalf of the
Company
Gabriel René VERSES Technologies Inc. Co-Founder
& CEO press@verses.io
Media and Investor Relations
Inquiries
Leo Karabelas Focus Communications President
info@fcir.ca 416-543-3120
The NEO has not reviewed or approved this press
release for the adequacy or accuracy of its contents.
A photo accompanying this announcement is available at:
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