VERSES AI Inc. (CBOE:VERS) (OTCQX:VRSSF) ("VERSES'' or the
"Company”), a cognitive computing company specializing in the next
generation of artificial intelligence, announced the rollout of its
next-generation intelligent software platform in its Q3 Corporate
Update.
Today, in a comprehensive address to investors, VERSES shared
the progress made this year and provided a glimpse of what is
expected to lie ahead, underpinned by a message on how to view the
Company as it sharpens its focus and long-term goals through the
introduction of Genius™ and its vision for a path to Artificial
General Intelligence ("AGI").
The release of VERSES' next-generation intelligent
software, Genius™, will be the company's central focus going
forward. Genius™ is best described as a platform for generating
digital brains' capable of understanding complex information,
learning and adapting and performing various functions, including
automated data analysis and recommendations. It also has the
ability to be fine-tuned with private data to function as a digital
executive or personal assistant.
"We believe we are well-positioned to become the
market leader in the race to Artificial General Intelligence (AGI),
which is often referred to as the 'holy grail' of AI in the new and
rapidly evolving market for AGI. Our conviction stems from a
combination of the following factors: (i) our scientific expertise,
a highly skilled and visionary (ii) our team, scientific proofs,
our intellectual property and our partnerships and alliances.
We're not just active participants in the
disruptive AI industry; we seek to disrupt it. Our goal for the
next 12 months is to demonstrate those meaningful advancements for
our Company and the broader AI ecosystem. We seek to use a
multi-pronged strategy to accelerate our journey towards AGI and
create changes that will positively transform the industry and the
world," said Mr. René.
Further, in the Corporate Update, the Company
highlights its achievements in 2023:
- Leading Scientific Research: VERSES
and its staff collaborated and published 32 papers in collaboration
with 20 universities around the world, including MIT, Oxford,
Imperial College London, Max Planck Institute, McGill, Northeastern
and the National Institute for Physiological Sciences, Okazaki,
Japan on the complex science of advanced intelligent software.
- Leading Global Standards Development:
VERSES initiated the Spatial Web Foundation, partnered with the
Institute of Electrical and Electronics Engineers (IEEE) and
engaged with more than a hundred global working group members
assisting the development of P2874 Spatial Web Standard, which is a
standard that defines the scope, key concepts and a reference model
for Spatial Web components, services and specification.
- Government Partnerships: VERSES was
selected by the European Commission to develop AI governance for
autonomous drone activities and became part of dAIEDGE, a network
of excellence for Edge AI (https://aiatedge.eu).
- Influencing Research and Consulting
Firms: VERSES and their work gained attention from organizations
like Deloitte and Gartner Research and collaborated with Dentons,
the world's largest law firm to release "The Future of Global AI
Governance.”
- Partnering with several Fortune 500
Corporations: VERSES' vision generated interest among several large
corporations, leading to successful pilots and partnerships. VERSES
also secured contracts with prominent warehousing and pharmacy
retail companies.
- Attracting Key Talent: VERSES expanded
its team to more than 100 professionals, including 25 PhDs. VERSES
believes these strategic hires set solid foundations for future
Company growth.
The Company’s Genius™ beta rollout is expected to begin in
October, with early access granted to private beta partners and
developers through the end of 2023. The public release is expected
sometime in 2024. With this list of milestones, VERSES demonstrates
its commitment to a smarter and safer future for AI.
To read the complete Corporate Update, click here:
www.verses.ai/blogs/corporate-update
On Behalf of the CompanyEric Holder, Director
of Communications, VERSES AI Inc., press@verses.ai
Investor Relations InquiriesLeo Karabelas,
President, Focus Communications, info@fcir.ca,
416-543-3120
Forward-Looking InformationThis 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: the
Company's long term goals relating to to lead the market in AGI,
the fact that VERSESʼ next-generation intelligent software, Genius™
, will be the Company's central focus going forward; the
capabilities of Genius™; management's belief that the Company is a
well-positioned organization to become a competitive participant in
the AGI market; the fact that the AGI market is rapidly-evolving
the Company's objective to disrupt the AI industry; the Company's
goal to create meaningful advancements for the Company and the
broader AI ecosystem in the next 12 months; the Company's intention
to use its strategy to create changes that will impact industries,
societies and individual lives; the Company's business objectives;
the Company's belief that its diversity in expertise will
contribute to its growth; when the Genius™ beta rollout is expected
to begin and the fact that early access will be provided to private
beta partners and developers through the end of 2023; the expected
timing of the public release of Genius™; and the fact that VERSES
seeks to contribute to a smarter and safer future for AI.
Such forward-looking statements are based on a number of
assumptions of management, including, without limitation, that the
Companyʼs cost and timing expectations are accurate; that Genius™
will be able to achieve the expected results; that the Company will
be successful in the deployment of its resources and personnel; the
Companyʼs ability to develop and test the Genius™ technology within
the anticipated timelines; that results of testing and development
data will be consistent with anticipated results and estimates;
that the Company will be successful in competing in the AGI market;
that the Company will be able to roll out the Genius™ technology
within the time frames expected; that the Company will not come
across technology or other barriers preventing it from achieving
its business objectives and commercializing the Genius™ technology;
and that the Companyʼs technology will impact the AI market and the
Companyʼs success in the AI market as anticipated.
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 VERSES 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: VERSESʼs
operations could be adversely affected by possible future
government legislation, policies and controls or by changes in
applicable laws and regulations including the ability of the
Company to develop and commercialize its products and the release
and deployment of the Genius™ technology; political instability;
unexpected development and production challenges; VERSES could face
technology or software disruptions; unanticipated costs; the
Genius™ technology may fail to perform as expected; the results of
the beta release of the Genius™ technology could fail to support
the release of the technology to the public; the Company could face
increased competition; the Companyʼs technology could fail to
impact the AI market as anticipated; the loss of key personnel; and
the loss of key partnerships necessary for the Company to achieve
its business objectives.
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 VERSES 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 VERSES 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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