VERSES AI Inc. (NEO:VERS) (OTCQX:VRSSF) ("VERSES'' or the
"Company”), a cognitive computing company specializing in the next
generation of artificial intelligence, is pleased to announce that
it has been contracted to amplify the digital transformation
efforts of a leading national US pharmacy retailer. This multi-year
collaboration aims to enhance the US pharmacy retailer’s
operational intelligence and the efficiency of its existing and
newly designed distribution centers. It is expected to progress to
a nationwide rollout.
Warehouses are complex systems with many still
relying on a multitude of legacy software and processes that can
lead to limitations including accuracy, flexibility, congestion,
and risk. VERSES will address these challenges by mapping the US
pharmacy retailer’s enterprise data into a unified knowledge model,
powered by its intelligence platform, KOSM™ and its WayFinder™
services that will run simulations in order to more accurately
predict and streamline decision-making around purchasing,
resourcing, sequencing, routing, and inbound and outbound flow of
products.
SimWell, a leading simulation technology and
advanced analytics firm, will serve as the integration consultant.
“Our expertise successfully delivering simulation programs, coupled
with the operational intelligence VERSES technology offers, makes
our team the ideal partner to help accelerate this strategic
modernization at the national pharmacy retailer,” said Jon Santavy,
Partner and Chief Revenue Officer at SimWell.
Gabriel René, CEO and Founder of VERSES, shared
his enthusiasm for the collaboration, stating, “While we’re unable
to disclose specific terms of the contract at this time, it is
significantly revenue bearing, and more importantly, it serves as a
powerful signal that VERSES has arrived at the point where we are a
preferred technology provider for a Top 10 Fortune 100 enterprise
entrusted with deploying impactful optimization solutions at
scale.”
James Hendrickson, VERSES GM of Enterprise,
adds, “We believe this collaboration signifies a meaningful
milestone in the national pharmacy retailer’s ongoing commitment to
technological advancement and operational excellence. The company’s
investment in state-of-the-art systems and supply chain
infrastructure not only reinforces its dedication to effectively
serving customers but also demonstrates its leadership in the
digital transformation of the health industry.”
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 Agent for anyone 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 SimWell
SimWell is a leading integration consultancy
dedicated to decision support and decision automation using
simulation, optimization, and digital twin technology.
Headquartered in Montreal, Quebec, SimWell is a multinational
company with teams across USA, Canada, Mexico, EMEA, and APAC.
Learn more at www.simwell.io.
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
On behalf of SimWell Jon SantavyPartner
& Chief Revenue Officerjsantavy@simwell.io
The NEO has not reviewed or approved this press release for the
adequacy or accuracy of its contents.
Forward Looking
Information
This press release contains "forward-looking
information" and "forward-looking statements" within the meaning of
applicable securities legislation. The forward-looking statements
herein are made as of the date of this press release only, and the
Company does not assume any obligation to update or revise them to
reflect new information, estimates or opinions, future events or
results or otherwise, except as required by applicable law. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects", "is expected", "budgets",
"scheduled", "estimates", "forecasts", "predicts", "projects",
"intends", "targets", "aims", "anticipates" or "believes" or
variations (including negative variations) of such words and
phrases or may be identified by statements to the effect that
certain actions "may", "could", "should", "would", "might" or
"will" be taken, occur or be achieved. These forward-looking
statements include, among other things, statements relating to: (a)
the success of the Company’s contractual relationship to amplify
the digital transformation efforts of a leading national US
pharmacy retailer; (b) the multi-year nature of the collaboration
between the Company and the US pharmacy retailer; (c) that the
Company’s aims to enhance the US Pharmacy retailer’s operational
intelligence and efficiency of its existing and newly designed
distribution centers; (d) the potential nationwide rollout of the
collaboration; (e) the Company’s intention to map the US pharmacy
retailer’s enterprise data into a unified knowledge model; (f) the
intention of the Company to use its KOSM™ network operating system
and its WayFinder™ services; (g) the Company’s success to
accurately predict and streamline decision making around
purchasing, resourcing, sequencing, routing, and inbound and
outbound flow of products; (h) the Company’s intention to work with
SimWell as the integration consultant; and (i) whether the contract
will be significantly revenue bearing.
Such forward-looking statements are based on a
number of assumptions of management, including, without limitation,
that the Company’s timing expectations are accurate, that the
Company will be able to achieve the expected results of contract
with the US pharmacy retailer, that the Company will be successful
in the deployment of its resources and personnel, that the
collaboration will span multiple years, that the Company will
successfully use the KOSM™ network operating system and its
WayFinder™ services to create the unified knowledge model, that the
Company’s collaboration with SimWell as the integration consultant
will be successful, and that the contract will be successfully
revenue bearing.
Additionally, forward-looking information
involve a variety of known and unknown risks, uncertainties and
other factors which may cause the actual plans, intentions,
activities, results, performance or achievements of GMG to be
materially different from any future plans, intentions, activities,
results, performance or achievements expressed or implied by such
forward-looking statements. Such risks include, without limitation:
(a) VERSES operations could be adversely affected by possible
future government legislation, policies and controls or by changes
in applicable laws and regulations; (b) contractual risks relating
to VERSES contract with the US pharmacy retailer; (c) the
volatility of global capital markets; (d) political instability;
(e) the failure of VERSES to attract and retain skilled personnel;
(f) unexpected development and production challenges; and (g)
VERSES could face technology or software disruptions; (h)
unanticipated costs.
Such forward-looking information represents
management's best judgment based on information currently
available. No forward-looking statement can be guaranteed and
actual future results may vary materially. Accordingly, readers are
advised not to place undue reliance on forward-looking statements
or information. Neither GMG nor any of its representatives make any
representation or warranty, express or implied, as to the accuracy,
sufficiency or completeness of the information in this press
release. Neither GMG nor any of its representatives shall have any
liability whatsoever, under contract, tort, trust or otherwise, to
you or any person resulting from the use of the information in this
press release by you or any of your representatives or for
omissions from the information in this press release.
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