Company Overview
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VERSES AI (Canada: VERS.NE) (USA: VRSSF) is a leading cognitive computing company that specializes in next-generation AI.
Its flagship product, GIA, is a voice and text-based General Intelligence Agent that can learn, analyze, adapt, and automate tasks for its owner, using a cutting-edge general artificial intelligence known as Active Inference.
GIA is powered by VERSES’ KOSM network operating system, enabling software developers to create Web 3.0 applications that access digital and real-world technologies (AI, robots, IoT, etc.) simultaneously.
By leveraging open standards and drawing inspiration from the human brain and experience, VERSES aims to foster collaboration and trust between humans, machines, and AI.
Their goal is to create a smarter world that enhances human potential through innovative nature-inspired solutions.
Industry Analysis
- The global artificial intelligence market is expected to grow at an annual rate of 37.3%, reaching a total market value of $1.81 trillion in 2030.
- AI is projected to create around 97 million new jobs, potentially countering workforce displacement concerns.
- 64% of business owners state that AI will improve business productivity, while 42% believe it will streamline job processes.
- The manufacturing sector is expected to reap the greatest financial benefit from AI adoption, with a gain of $3.8 trillion by 2035.
- In all, artificial intelligence is expected to add $13.7 trillion, or +15% to global GDP by 2030.
Assets
KOSM
KOSM OS offers users a foundational platform that simultaneously connects artificial intelligence, IoT, and humans with one another.
It enables developers to create applications that function in both the real and digital worlds while leveraging advanced AI tools like general intelligence agents, drones, and robots to learn, problem-solve, and carry out tasks autonomously.
Unlike generative artificial intelligence, like those developed by Open AI, Google, and Meta, KOSM operates like a digital brain, learning, adapting, analyzing, and recommending solutions in real time.
Moreover, KOSM is explainable, making it easier to communicate with AI, thus helping us understand AI’s decision-making process while it filters through trillions of scenarios.
This all occurs within the KOSM ecosystem where AI agents share knowledge and information freely and transparently with one another across the artificial intelligence network.
In all, KOSM resolves many of the current challenges AI developers face since it evolves in real-time, rather than being based on big data sets which are owned privately and costly to update.
The benefits of this are increased efficiency and productivity, automated decision-making, and a reduction of cost and time.
VERSES plans to roll out KOSM globally in 2023.
WAYFINDER
WAYFINDER was intended to be VERSES’ proof-of-concept app that demonstrated KOSM’s technical capabilities.
However, it was so effective that the Company commercialized it, secured a $26.5 million, 10-year contract with NRI Distribution, and partnered with Blue Yonder, the largest warehouse management software provider in the world.
The WAYFINDER app helps logistics companies improve operational efficiency in warehouse and distribution centers by over 35%.
This translates to millions of dollars in savings thus helping expand a business’s bottom line.
WAYFINDER does so by creating a digital spatial twin of the warehouse, analyzing the environment, and determining the optimal strategy for organizing products, directing employees, and overcoming obstacles.
Better yet, VERSES has partnered with companies like SVT Robotics to deploy AI-powered robots that will improve and solve problems in real time as they integrate with KOSM.
WAYFINDER is a consistent producer of revenues for the Company and is just one example of what VERSES can create on KOSM.
General Intelligence Agent (GIA)
GIA, the general intelligence agent, is VERSES’ next-generation personal AI assistant built to learn about its users to better organize, manage, and optimize their digital life.
It is a voice and text-based digital assistant that operates under a user’s direction and on their behalf, searching, filtering, and summarizing information across multiple data sources.
GIA aims to reduce information overload, improve productivity, and provide personalized recommendations and online automation.
It can search and interact across different apps, websites, devices, and systems, managing calendars, sending messages, and automating real-world activities.
GIA prioritizes user controls for data permissions, privacy, and security, and is scalable across virtually every industry.
VERSES plans to launch the GIA beta worldwide in the summer of 2023.
Leadership Team
Gabriell Rene | Founder & CEO
Gabriel René is a seasoned technologist, entrepreneur, and author with a 25-year career in the Technology, Telecom, and Media Industries. Beyond VERSES AI, Mr. René also serves as the acting Executive Director of the Spatial Web Foundation, which focuses on developing ethical standards for the interoperability of emerging technologies.
He has collaborated with Fortune 100 companies like Verizon, Sony, Intel, Coca-Cola, Microsoft, and more, showcasing his leadership and strategic expertise. Gabriel is the co-author of the bestselling book “The Spatial Web – How Web 3.0 Connects Humans, Machines, and AI to Transform the World” exploring the transformative power of Web 3.0. His expertise as a C-Level Executive and Founder has been demonstrated through his exceptional leadership, strategic acumen, and operational skills in scaling businesses from initial vision to global operations. (Forbes)
Dan Mapes | Founder & President
Dan Mapes is a seasoned professional with over 20 years of experience at the intersection of internet technology and entertainment. He is an entrepreneur, inventor, and investor, consulting for startups and large corporations. Mr. Mapes was the Founder and CEO of Cyberlab 9, which focuses on IoT, e-commerce, encryption, virtual reality, and AI.
He also co-authored the bestselling book “The Spatial Web, – How Web 3.0 Connects Humans, Machines, and AI to Transform the World”. Dan has advised prestigious organizations like the UN, UNESCO, and the Obama Campaign. He has also been a technology advisor to several governments and major companies such as Apple and Intel. His successful ventures include Ecity Studios, Deep Light 3D Displays, and Digital Motors Corporation. (Digital Raign)
Dr. Karl J. Friston | Chief Scientific Officer
Dr. Karl Friston is a renowned scientist and Professor of Neuroscience at University College London. With expertise in Computational Neuroscience and Artificial Intelligence, he is a leading figure in the field. Dr. Friston’s specialization in Active Inference applies a natural design principle to intelligent systems that drive the development of advanced AI at VERSES.
Under his guidance, the VERSES AI Research Lab published a White Paper proposing a novel approach to AI limitations and a roadmap to achieving Artificial General Intelligence. Dr. Friston’s distinguished career includes prestigious awards and memberships, recognizing his groundbreaking contributions to Brain Research. His appointment at VERSES promises significant advancements in AI research and development.
James Hendrickson | President & GM, VERSES Enterprise
James Hendrickson is the President and General Manager of VERSES Logistics Inc., the Company’s global enterprise-specific business unit in the supply chain market. With his extensive experience in strategic and commercial leadership, including previous roles at Berkshire Grey and Honeywell, Mr. Hendrickson brings valuable expertise to address supply chain challenges.
His appointment will contribute to VERSES’ growth and enable the delivery of efficient supply chain solutions to optimize operations and enhance customer satisfaction.
Jay Samit | Chairman
Jay Samit is the former NASDAQ company CEO, and Independent Vice Chairman of Deloitte Consulting bringing decades of experience in entrepreneurship, thought leadership, and advising Fortune 500 companies. He has a remarkable track record of transforming industries, launching ventures, and pioneering advancements in technology and media.
Samit’s expertise has been featured in prestigious publications and he has made frequent appearances on major television networks. Through his various mediums of expression, including books and speeches, he continues to inspire and motivate teams to drive growth and embrace innovation.
Partners
Blue Yonder is the world leader in digital supply chain transformations and omnichannel commerce fulfillment.
The company empowers more than 3,000 retailers, manufacturers, and logistics providers across 78 countries, including 17 of the Gartner Supply Chain Top 25 companies.
VERSES is equipping Blue Yonder’s warehouses and distribution centers with adaptive intelligence and Spatial Twin management applications designed to generate a unified real-time world model in order to better simulate and orchestrate workflow optimization, verifiable traceability, and intelligent automation.
VERSES will earn roughly half of the revenues from Blue Yonder clients who use the WAYFINDER app, through the partners’ reseller agreement.
SVT Robotics specializes in streamlining the integration and deployment of robotics, IoT, and other industrial applications through its SOFTBOT Platform and partner ecosystem.
By integrating VERSES’ KOSM network operating system with SVT Robotics’ SOFTBOT Platform, supply chain companies can streamline the integration process more efficiently.
This collaboration offers quick and reliable integration through the SOFTBOT connector in SVT Robotics’ AppDirectory.
Additionally, customers gain access to SVT Robotics’ AppLab and AppMonitor capabilities for custom workflows and performance monitoring.
Together, SVT Robotics and VERSES provide a comprehensive solution for optimizing logistics automation.
SimWell, a leader in digital simulations, is partnered with VERSES to leverage knowledge models and digital twin technologies.
This collaboration aims to provide predictive modeling simulations for enterprise clients in various sectors, enabling data-driven decisions, process optimization, and cost reduction.
SimWell’s expertise in simulation and digital twin technology, along with VERSES’ advanced A.I., will drive the development of Intelligent Agents within the KOSMOS ecosystem.
The collaboration began with a project to enhance production processes and minimize costs for a global apparel brand, setting the stage for future ventures in different industries.
Disclaimer/Disclosure
We are not brokers, investment, or financial advisers; you should not rely on the information herein as investment advice. If you are seeking personalized investment advice, please contact a qualified and registered broker, investment adviser, or financial adviser. You should not make any investment decisions based on our communications. Our stock profiles are intended to highlight certain companies for YOUR further investigation; they are NOT recommendations. The securities issued by the companies we profile should be considered high risk and, if you do invest, you may lose your entire investment. Edge Investments and its owners currently hold shares in Verses AI stock and are compensated by Verses for Investor Relations Services. Edge Investments and its owners reserve the right to buy and sell shares in Verses AI without further notice, which may impact the share price. Please do your own research before investing, including reading the companies’ public filings, press releases, and risk disclosures. The company provided information in this profile, extracted from public filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it. The commentary and opinions in this article are our own, so please do your own research.
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