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    VERS   CA92539C1005

VERSES TECHNOLOGIES INC.

(VERS)
End-of-day quote NEO EXCHANGE - NEO-L (MARKET BY ORDER)  -  2023-01-26
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VERSES Introduces Artificial Intelligence Lab and Sensor Fusion Research Facility

09/21/2022 | 08:02am EST

New lab showcases VERSES’ contextual computing solutions and supports advanced AI technology development

VANCOUVER, British Columbia, Sept. 21, 2022 (GLOBE NEWSWIRE) -- VERSES Technologies Inc. (NEO:VERS) ("VERSES'' or the "Company”), a contextual computing platform provider specializing in the next generation of artificial intelligence solutions, today announced the opening of its sensor fusion lab and research facility in Culver City, California. The new lab showcases VERSES’ technology portfolio, including COSM™, the company’s flagship artificial intelligence operating system. The lab also equips VERSES’ data science and product development teams with an immersive space to develop and launch solutions based on sensor fusion research techniques.

Sensor Fusion–the process of integrating multiple data sources from across various sensors to produce a more consistent, accurate, and useful understanding of objects and their environments–is key to enabling AI to better understand the context of a real-world environment and optimize its activities accordingly. Often referenced in the context of the future of autonomous vehicles, sensor fusion has innumerable use cases spanning a broad array of industries, specifically sectors where inferences and decisions need to be made on the basis of real-time sensor data such as entertainment, security, warehouses, manufacturing and supply chains. Since sensor fusion is required in some form in all of these use cases, it is not only suitable, yet increasingly necessary for both technical and strategic applications of technology in the modern economy, reaching beyond smart cities, smart healthcare, aerial navigation and robotics, to core long-standing sectors of the world economy.

“Today, autonomous vehicles use sensor fusion in the form of radar, lidar, and cameras to model real-time scenes of their environment in order to safely navigate the streets around them ,” said Gabriel Rene, Founder and CEO of VERSES. “With our COSM operating system we can apply the same sensor fusion techniques and capabilities in areas such as warehouses, manufacturing plants, shipping ports, mines and retail environments to further enable automation and AI-driven applications.”

In this new facility, customers, partners, and investors can experience VERSES’ research across a variety of disciplines like interaction with 3D digital twins, mixed-reality warehouse picking using Microsoft Hololens, and autonomous drone regulatory compliance solutions. Among the first to partner with VERSES in this capacity, Nalantis NV collaborated to co-develop a drone-centric, interoperable semantic regulatory framework powered by the COSM operating system for operators, drones and governing authorities. Further, through this work, the geospatial digital infrastructure is being mapped for autonomous drones to operate within.

“The opportunity to collaborate with peers from the VERSES Sensor Fusion Research Facility and demonstrate how this technology is shaping the future of urban air mobility is, quite frankly, exhilarating,” said Stephen Lernout, Chief Strategy & Innovation Officer at Nalantis. “We are excited to continue working together as we advance our vision to become a leading natural language understanding company.”

The VERSES Artificial Intelligence Lab and Sensor Fusion Research Facility is located in the Hayden Tract district of Culver City, CA, home to multiple technology and creative companies.

About VERSES
VERSES is a next-generation AI company providing foundational technology for the contextual computing era. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES’ flagship offering, COSM™, is an AI Operating System for enhancing any application with adaptive intelligence. Built on open standards, COSM transforms disparate data into a universal context that fosters 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.io

Media and Investor Relations Inquiries
Leo Karabelas
Focus Communications
President
info@fcir.ca
416-543-3120


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Financials (USD)
Sales 2022 2,77 M - -
Net income 2022 -8,88 M - -
Net cash 2022 6,08 M - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 70,1 M 70,1 M -
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 32
Free-Float 46,7%
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Managers and Directors
Gabriel Joseph Bradley Rene Director
Dan Raymond Mapes Director
Kevin Wilson Chief Financial Officer & Secretary
Jay A. Samit Chairman
Karl Friston Chief Scientist
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