VANCOUVER, British Columbia, March 08, 2023 (GLOBE NEWSWIRE) -- VERSES Technologies Inc. (NEO:VERS) (OTCQX:VRSSF) ("VERSES'' or the "Company”), a cognitive computing company specializing in the next generation of Artificial Intelligence (AI) systems and the developer of KOSMOS™, a network operating system enabling distributed intelligence, is pleased to announce a name change to VERSES AI Inc. effective March 31st, 2023, subject to final acceptance of the Neo Exchange Inc. (the "NEO"). The name change confirms the Company’s focus and more clearly communicates its intent to the market.
“VERSES was founded on the premise that AI would be the driving force in the Web 3.0 era. It’s why we have assembled an executive team with decades of deep tech and AI and Robotics expertise in solving problems for Fortune 500, Global 1000, and government entities,” said Gabriel René, Chief Executive Officer of VERSES.
In 2022 the Company attracted its Chief Scientist, Dr. Karl Friston, who pioneered the free energy principle and invented the mathematics behind the fMRI scan and is the most highly cited researcher in the field of neuroscience with over 290,000 academic citations1.
“With recent breakthroughs in our product development due in large part to our AI research team’s work in 2022, we have been able to accelerate our go-to-market timeline. KOSMOS and our new Intelligent Agent pipeline for AI will allow us to meet the demand we’re receiving from individuals, developers, and enterprise customers who want an easier and faster way to extract actionable intelligence from their data,” said Gabriel René.
An executive summary of a recent white paper published by Dr. Friston and the VERSES team outlining the company’s next-generation approach to developing AI entitled “Designing Ecosystems of Intelligence from First Principles” is available on the Company’s website.
KOSMOS is planned for launch in Q3, enabling VERSES to bolster its first-mover advantage as key infrastructure for the next generation of intelligent applications. The Company recently announced its intention to launch its first consumer-facing AI agent codenamed “GIA”, short for General Intelligent Agent, a virtual personal assistant later this year. GIA is set to be the Company’s first AI tool based on Dr. Friston’s novel approach to AI.
For more information, visit VERSES at https://www.verses.ai
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 KOSMOS™, a network operating system enabling distributed intelligence. Built on open standards, KOSMOS 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.
On Behalf of the Company
Gabriel René
VERSES Technologies Inc.
Co-Founder & CEO
press@verses.ai
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.
Forward-Looking Statements Cautionary Note
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, completion of the Company’s name change and on the anticipated timeline, NEO approval of the name change, the Company’s views regarding AI’s role in the Web 3.0 era, the Company’s expectations regarding its go to market timeline, the ability of KOSMOS and the Company's new Intelligent Agent pipeline to meet demand, the successful launches of KOSMOS and GIA and the anticipated timelines and the anticipated benefits of the first mover advantage. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will obtain NEO approval of the name change in a timely manner, and that the Company will be able to achieve successful launches of KOSMOS and GIA and on the anticipated timelines.
These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks relating to the Company being unable to obtain approval of the name from the NEO, the Company being unable to achieve successful launches of KOSMOS and GIA or do so on the anticipated timelines, the risk that the benefits to the Company of the timing of these launches will not be realized, unanticipated costs and other risk factors disclosed in the Company’s disclosure record on www.sedar.com under the Company’s profile. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
