Artificial Intelligence
Next-Gen AI Company, VERSES, Announces Listing Debut On The NEO Exchange
VANCOUVER, British Columbia, June 27, 2022 (GLOBE NEWSWIRE) — VERSES Technologies Inc. (“VERSES”) is pleased to announce that the Neo Exchange Inc. (the “NEO Exchange” or “NEO”) has granted final approval of VERSES’ listing application, and that VERSES will commence trading on the NEO Exchange tomorrow under the symbol VERS.
VERSES is an AI-as-a-Service provider specializing in the next generation of artificial intelligence that enables a new class of context-aware AI applications that can sense, understand, act, and adapt to dynamic conditions, situations, and environments. Their flagship platform, COSM™, is an AI Operating System (AIOS) for developing and deploying AI apps and intelligent services that provides insight, prediction, and real-world optimization.
COSM™ powered AI apps are currently being deployed in industrial supply chain environments helping companies improve margins by optimizing labor efficiency, facility management, and worker experience, as well as in government-led smart city initiatives such as Flying Forward 2020 enabling autonomous drones to monitor threats, inspect buildings, and deliver assets across the European Union.
“VERSES’ public listing is an exciting step for us as we bring to market smarter solutions capable of enabling AI-driven applications,” said Gabriel René, CEO and Co-Founder of VERSES. “As VERSES expects to expand into new industries, our listing gives us an opportunity to reach an increased number of investors and stakeholders who share in our excitement and connect with our vision to imagine a smarter world where AI applications can be easily deployed anywhere for anything by anyone.”
Among VERSES’ leadership is Chief Commercial Officer, Michael Wadden, who was a key part in the development of Accenture Digital (now Accenture Song) leads VERSES’ sales efforts that led to securing a multi-year contract with Third Party Logistics company, NRI Distribution. Under this contract, NRI Distribution has agreed to pay VERSES US$9M over six years, with such contract being renewed with the written confirmation of NRI Distribution for another US$17.5M payable over an additional five years. The aggregate fees of both terms is US$26.5M. Heading up VERSES’ R&D team is Dr. Maxwell Ramstead, a pioneer in developing a mathematical framework with origins in computational neuroscience. The Company’s board of directors was recently joined by Jay Samit, former Independent Vice-Chairman of business consulting firm, Deloitte, which penned an article describing the Spatial Web technologies that VERSES is building as fundamental to the “Next Era of Computing.”
VERSES listing on the NEO Exchange enables the Company’s Class A Subordinate Voting Shares (the “Subordinate Voting Shares”) to be traded on a senior exchange in Canada. The Subordinate Voting Shares are qualified by VERSES’ long-form non-offering prospectus, dated June 21, 2022 (the “Prospectus”), a copy of which may be obtained under the VERSES’ profile on SEDAR at www.sedar.com.
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.io, LinkedIn, and Twitter.
About Neo Exchange Inc.
The NEO Exchange is Canada’s Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
NEO Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.
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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, VERSES’ expectation that it will continue to expand into new industries, the impacts and benefits of listing on the NEO Exchange, including the Company’s ability to reach investors and stakeholders as well as their perceptions of the Company, and VERSES’ agreement with NRI Distribution including the amounts payable thereunder and the renewal thereof.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that VERSES will continue to expand into new industries, benefits arising from listing on the NEO Exchange will be consistent with management’s current expectations, VERSES’ agreement with NRI Distribution will be renewed and all amounts payable thereunder will be received by VERSES, and certain other assumptions as more particularly set forth in the Prospectus.
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, that the listing on the NEO Exchange will not have the benefits and impacts as currently anticipated by management; the Company will not expand into new industries as anticipated by management, VERSES’ agreement with NRI Distribution will not be renewed and/or VERSES will not receive all amounts payable thereunder, and other risk factors set forth in the Prospectus. 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. We seek safe harbor.
Riyadh leads the GCC’s rise as a retail innovation hub, hosting global retail leaders to address market resilience, AI-powered growth, and sustainabilityPanda Retail Company joins as a Strategic Partner and Apparel Group as a Headline Partner to support the Forum’s focus on ‘Rebuilding a Shared Future’The Forum marks the next phase of the Retail Leaders Circle’s decade-long mission to connect and empower leaders within the retail sectorRIYADH, Saudi Arabia, Oct. 1, 2024 /PRNewswire/ — The RLC Global Forum will hold its inaugural Annual Meeting on February 4-5, 2025, in Riyadh, a landmark event for the global retail sector. As the GCC strengthens its position as a hub of resilience and growth, fueled by Saudi Arabia’s Vision 2030, the Forum will bring together the world’s leading retailers, policymakers, investors and innovators to discuss the future of the industry, driven by AI, sustainability, and global collaboration.
Under the theme “Rebuilding a Shared Future,” the RLC Global Forum will tackle the most pressing challenges facing global retail today, including technological transformation, cross-border commerce, market resilience, and geopolitical shifts. The Forum will serve as a critical platform for fostering cross-industry partnerships and innovative strategies to drive the sector forward.
“Our evolution into the RLC Global Forum reflects a broader, more inclusive vision for the global retail sector,” said Panos Linardos, Chairman of the RLC Global Forum. “This inaugural Annual Meeting will offer unique insights into how we can navigate the complex landscape of retail, from AI advancements to building sustainable and inclusive industry growth.”
Panda Retail Company, one of the top retail chain businesses in the Middle East and the lead grocery retailer in Saudi Arabia, joins as a strategic partner. “Our strategic alliance with the RLC Global Forum marks Panda’s dedication to innovation and excellence in the grocery sector,” said Dr. Bander Hamooh, CEO of Panda Retail Company. “We look forward to leveraging this partnership to pioneer new solutions and advance the retail landscape in Saudi Arabia.”
Additionally, the multi-award-winning global fashion and lifestyle retail powerhouse, Apparel Group, joins as a Headline Partner. “At Apparel Group, we are always eager to foster discussions on crucial themes that impact both the global landscape and our industry,” stated Sima Ganwani Ved, Founder and Chairwoman of Apparel Group. “Our strategic partnership with the RLC Global Forum highlights our commitment to engage with pivotal topics and drive meaningful dialogue that shapes the future of retail and beyond.”
The inaugural 2025 RLC Global Forum promises to be a defining event, setting the stage for retail’s next chapter of innovation, collaboration, and growth.
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Artificial Intelligence
Cyber-Physical Systems (CPS) Market worth $255.3 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 1, 2024 /PRNewswire/ — The global cyber-physical systems market is expected to be valued at USD 124.1 billion in 2024 and is projected to reach USD 255.3 billion by 2029; it is expected to grow at a CAGR of 15.5% from 2024 to 2029 according to a new report by MarketsandMarkets™. Higher growth in industrial automation coupled with the influence of IoT is boosting the growth of the cyber-physical systems market. The growth of the industry of industrial automation is mainly influenced by the importance of the integration of cyber-physical systems and the Internet of Things. CPS involve the connectivity of sensors and actuators, which improves manufacturing efficiency and flexibility while heightening the operational capabilities of a factory, thus a shift toward smart factories in the industry 4.0 era. The influence of IoT will further be the enablement of real-time data exchange along with advanced analytics on predicting maintenance and optimization of resources that would make automation faster. The CPS systems are expected to expand rapidly with each adoption in the various industries across the market because of the inherent innovations coupled with competitiveness across a number of industries.
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Browse in-depth TOC on “Cyber-Physical Systems (CPS) Market” 210 – Tables70 – Figures298 – Pages
Cyber-Physical Systems (CPS) Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 124.1 billion
Estimated Value by 2029
$ 255.3 billion
Growth Rate
Poised to grow at a CAGR of 15.5%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Type, Vertical and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Complexities associated with integrating various components
Key Market Opportunities
Rising preference for sustainable energy
Key Market Drivers
Growing trend of industrial automation
The operational technology (OT) holds a significant share in cyber-physical systems market.
The operational technology (OT) segment holds a significant share in the cyber-physical systems market due to higher demand from process industries such as oil & gas, chemical, and petroleum. This technology enables these industries to manage and control critical industrial processes in real time. These systems integrate hardware and software that collects the data, visualizes it, and takes control of the processes. Also, the industries such as energy and manufacturing rely on OT for performing operations such as process control, safety management, and monitoring. Furthermore, integrating OT with IT systems has enhanced the execution of complex industrial tasks. As industries increasingly adopt automation and smart technologies, the reliance on robust OT systems ensures its substantial share in the CPS market.
Digital twin technology to exhibit the highest growth rate in the cyber-physical systems market.
The digital twin is anticipated to hold the highest growth rate in the cyber-physical systems market. This is attributed to their unique gadgetry, which completely transforms how industries manage and optimize their assets. Digital twins can imitate real-life systems, allowing businesses to monitor, predict and simulate how they operate in real-time. This capacity is vital in sectors such as manufacturing, healthcare, and aerospace, where there is an emphasis on the careful handling of machines and techniques. The emergence of Industry 4.0 kindled by the expanding incorporation of AI with IoT technologies, has since contributed to expediting the use of digital twins due to their ability to facilitate preventive maintenance, reduce downtimes, and enhance the decision-making process among manufacturers. Given that organizations are increasingly leaning towards productivity improvement ideas, demand for digital twin technology will be expected to keep rising, resulting in the highest CAGR in CPS markets throughout the forecast period.
Manufacturing vertical dominates the cyber-physical systems market over the forecast period.
Manufacturing is the largest vertical of the cyber-physical systems market, as heavy machinery works with advanced automation technologies to implement the most modern manufacturing process. Smart manufacturing avails itself of CPS technologies such as IIoT, robotics, and digital twins, enabling capabilities like real-time monitoring, predictive maintenance, and optimized production workflows. These are really important to enable companies to compete in a global marketplace, supporting manufacturers in increasing their efficiency, reducing charges, and offering better quality products. The emphasis on digitalization and the integration of manufacturing systems propagated by Industry 4.0 has positioned CPS technologies as the dominant sector in the market, especially for manufacturing.
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North America region holds the largest share of cyber-physical systems market during the forecast period.
North America holds the major share of the cyber-physical systems industry due to the presence of key players in the region. The region is strategically vital for advanced R&D initiatives focusing on transformational technologies such as IIoT, smart grids, and autonomous systems. Steadily rising demand from manufacturing, automotive, and healthcare sectors eager to adopt and implement new and transformative technologies constantly pushes innovation. In addition to this, early adoption of the practices of Industry 4.0 across the region, along with a regulatory framework favorable to encouraging innovation in technologies, has enabled North America to continue dominating the global cyber-physical systems market.
Key Players-
The report profiles key players in cyber-physical systems companies such as ABB (Switzerland), Honeywell International Inc. (US), Rockwell Automation (US), Schneider Electric (France), Siemens (Germany), Continental AG (Germany), General Electric Company (US), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan), and Robert Bosch GmbH (Germany) among others. These players have a strong market presence in cyber-physical systems across various countries in North America, Europe, Asia Pacific, and the Rest of the World (RoW).
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Artificial Intelligence
Matterport Fall 2024 Release: Insights Meets Imagination elevates the platform with generative AI and more
Matterport introduces essential new tools for real estate agents, contractors and designers
SUNNYVALE, Calif., Oct. 1, 2024 /PRNewswire/ — Matterport, Inc., today unveiled a groundbreaking suite of new tools designed to reshape the way professionals design, build, and market properties. Through the power of generative AI, Matterport users can now easily reimagine the potential of any space, transforming digital twins from static replicas into dynamic canvases for creativity.
“Our Fall 2024 Release empowers users to unlock the full potential of Matterport,” said RJ Pittman, Chairman and CEO of Matterport. “Imagine being able to defurnish a home with one click or generate stunning property descriptions automatically, using just the data from your digital twin. These tools save time, elevate listings, and simplify complex workflows for everyone—from real estate agents to contractors and enterprise teams. And with features like 3D model merge, field tags, and one-click bill-back processing, we’re helping customers manage spaces at scale with unprecedented speed, efficiency and precision.”
New tools for agents:
One of the most revolutionary additions in the Fall Release is Matterport’s AI-powered defurnish tool, designed to solve a common challenge for home sellers and agents: clutter. With a single click, users can now transform a cluttered living room or messy garage into a clean, open space—allowing potential buyers to visualize the home’s true potential. Whether it’s “erasing” an outdated couch or clearing out the dining room set, defurnish gives agents a powerful yet simple tool to make every property shine.
And coming soon, Matterport’s interior design tools will unlock creativity for everyone—letting users digitally furnish and redesign spaces with ease and offering a glimpse of what the future could hold.
The AI-powered property description tool is another game-changer, crafting detailed, engaging written descriptions in just seconds. Brokers and marketers can select the style and tone, ensuring each listing is perfectly tailored—whether it’s a sleek, modern downtown loft or a charming suburban home. And by leveraging the precise spatial data of every digital twin, the tool creates content that is not only beautifully written but also accurate down to the last detail, saving hours of work and producing results that even seasoned experts will admire.
New tools for property managers, contractors, and designers:
For large-scale projects, Matterport’s new Merge tool enables users to seamlessly “snap” together multiple digital twins. Imagine creating a full digital model of an entire hotel, floor by floor, or merging every floor of a high-rise office tower into one cohesive 3D tour of the building. Merge also allows multiple team members to scan different sections of a property simultaneously and integrate them later, making it possible to capture and manage even the most expansive buildings quickly and efficiently.
Field Tags further enhance the efficiency of on-site work by allowing users to add on-site observations and tags during the scanning process. No more repeat visits to capture missed details—everything can be documented in real-time, ensuring accurate, comprehensive records of the space are captured at the moment they matter most. This feature keeps teams aligned and projects moving forward without unnecessary delays.
Lastly, Matterport introduces one-click bill-back processing, a highly anticipated feature for enterprise customers. This simple yet powerful tool removes the headache of manual invoicing and cost allocation, allowing organizations to easily distribute expenses across departments and external partners. By automating billing processes, Matterport reduces administrative burdens and empowers teams to focus on what matters most.
About MatterportMatterport, Inc. (Nasdaq: MTTR) is the World’s #1 Digital Twin Platform* leading the digital transformation of the built world. Our groundbreaking platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal, and marketing. Learn more at matterport.com and browse a gallery of digital twins.
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