VERSES AI Inc. (CBOE:VERS) (OTCQX:VRSSF) ("VERSES'' or the
"Company”), a cognitive computing company specializing in the next
generation of artificial intelligence, today announces the release
of a landmark AI industry report "The Future of Global AI
Governance.”
The report offers a unique perspective on global artificial
intelligence (AI) governance that combines the legal expertise of
the world’s largest law firm, Dentons, the AI acumen of VERSES, and
guidance from the Spatial Web Foundation.
The report introduces socio-technical standards that have the
potential to reshape how we confront the challenges of governing AI
on a global scale by addressing interoperability, explainability,
and the advancement of intelligent and autonomous systems. We
believe as technologies evolve at an exponential pace, the need for
developing and adopting such socio-technical standards grounded in
human rights and values is becoming increasingly apparent.
The report proposes an International Rating System for
Autonomous Intelligent Systems (AIRS) in response to a potential
blind spot in regulatory efforts which are focused more on the
commercial activities of AI developers than the mechanisms of AI
systems themselves which could lead to mass disinformation, job
loss, societal destabilization and physical harm. The primary goal
of the report is to provide governments, regulators and legislators
with a pragmatic framework that both informs and provides a roadmap
for future policymaking and compliance.
“We must address the challenge of governing potentially
self-regulating AI to ensure alignment with human values and
prevent potential risks. By implementing global socio-technical
standards and establishing an international AI regulatory sandbox,
we believe we can harness the immense benefits of AI while
safeguarding against its potential perils," stated VERSES CEO,
Gabriel René.
Notably, the research points to the development of
socio-technical standards by the Institute of Electrical and
Electronics Engineers (IEEE), the world's largest association of
technical professionals.
These socio-technical standards are designed to bridge the gap
between technology and society, prioritizing adaptability,
collaboration and multi-stakeholder participation. They are
designed to assist governments and regulators in fostering trust
and efficient integration of AI technologies. Such standards can
facilitate the concept of “law as code,” where regulations are
converted into a machine-readable format, optimizing rules for
digital service delivery and automated decision-making processes.
This ensures explainability and enables human control over AI and
Autonomous Systems.
"The Future of Global AI Governance” also brings to light the
immense benefits AI can unlock if effectively globally governed
while underlining the urgency to future-proof our ability to align,
oversee and override AI systems.
“This report represents a significant step towards comprehending
the complexities of AI governance and highlights how
socio-technical standards can shape its future trajectory. As the
world rapidly embraces AI technologies, the insights offered in
this report we expect will undoubtedly serve as a vital resource
for policymakers, industry stakeholders and researchers alike,”
says George Percivall, Distinguished Engineering Fellow and
Vice-Chair of IEEE Standards Working Group on the Spatial Web.
“We are thrilled to collaborate with VERSES and the Spatial Web
Foundation on this important report. The challenge of regulating AI
raises complex and often novel questions of law and policy for
clients and stakeholders. We hope this report provides a new way of
thinking about AI regulation and provides important insights for
key stakeholders as they wrestle with the right path forward on AI
regulation and try to strike an appropriate balance between
innovation and moderation,” said Peter Stockburger, Partner at
Dentons US LLP.
"The Future of AI Global Governance” and its companion piece
“Executive Summary” are available for download at
www.verses.ai/aigovernance.
About VERSES
VERSES is a cognitive computing company specializing in
next-generation Artificial Intelligence. 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 KOSM™, 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 its commitment to inclusion,
diversity, equity and ESG, ensures they challenge the status quo to
stay focused on what matters most to you.
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. We support transparency and
accountability in the development and use of technology, promote
responsible innovation, engage in dialogue and collaboration with
various stakeholders, and adopt 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 RenéVERSES AI
Inc.Co-Founder & CEO&Eric HolderDirector of Communications,
VERSES AI Inc.press@verses.ai
Media and Investor Relations Inquiries Leo
KarabelasFocus CommunicationsPresidentinfo@fcir.ca416-543-3120
Cautionary Note Regarding Forward-Looking Statements
When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan",
"predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. Although
VERSES believes, in light of the experience of their respective
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in the forward-looking
statements and information in this press release are reasonable,
undue reliance should not be placed on them because the parties can
give no assurance that such statements will prove to be correct.
The forward-looking statements and information in this press
release include, the expectation that the report will serve as a
vital resource for policymakers, industry stakeholders and
researchers.
In making the forward-looking statements in this news release,
the Company has applied several material assumptions, including
without limitation, that the report will serve as a vital resource
for policymakers, industry stakeholders and researchers.
By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. There are a number of important factors
that could cause VERSES actual results to differ materially from
those indicated or implied by forward-looking statements and
information. Such factors include, that the report will not serve
as a vital resource for policymakers, industry stakeholders and
researchers or will be used by such parties as a resource at all.
The Company undertakes no obligation to comment on analyses,
expectations or statements made by third parties in respect of its
securities or its financial or operating results (as
applicable).
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this press
release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/730ea1fa-11ec-4f25-b0ec-8318d36e7502
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