Artificial Intelligence
VERSES Announces Technical Breakthrough And Patent Filing for Its Next-Gen AI
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VANCOUVER, British Columbia, May 24, 2023 (GLOBE NEWSWIRE) — VERSES AI Inc. (CBOE:VERS) (OTCQX:VRSSF) (“VERSES” or the “Company”), a cognitive computing company specializing in the next generation of artificial intelligence, is pleased to announce the filing of a patent application covering a milestone invention for automating the generation of intelligent software agents directly from data sets that can interact with both software and hardware systems, such as robots, drones, sensors, and actuators.
Today’s Generative AI and Large Language Models (“LLM”), such as OpenAI’s GPT, Google’s BARD and Meta’s LLAMA, excel at creating content based on patterns inferred from their training data. However, their comprehension of underlying data remains rudimentary, mimicking rather than understanding, and they lack the ability to incorporate to new information post-training. This can produce inaccurate, biased, and potentially harmful responses which have resulted in calls for global AI regulation to ensure that AI can be aligned with human values and goals.
With the goal of developing human-centered intelligent agents, VERSES has employed a “neuromorphic” approach to its AI research and software development based on neuroscience research known as Active Inference which simulates the brain’s processes for learning and problem-solving.
VERSES AI Inc.’s new invention is designed to streamline and automate the creation of ‘intelligent agents’ or digital taskmasters. The process begins by creating a structured representation of the world, known as an HSML graph, and transforming it into a blueprint for how the agent should behave. This not only brings a new level of intelligence and adaptability to smart systems but we believe also represents a significant step forward in their scalability. Building on this, the next phase of the process tunes the agent to perform within a specific context, such as operating in a drone or vehicle or as a personal assistant or managing a smart home, warehouse, or manufacturing facility. By tailoring the agent to the particular context, task and hardware, the process seeks to create a seamless and effective operation. These two aspects of VERSES’ new invention work together with the aim of creating a more advanced, adaptable, and effective AI system.
The result is expected to be a new class of Agents that have the capacity to evaluate and consider their responses prior to making them, and to assess the context of a scenario before determining an appropriate course of action. In essence, to enable AI to be able to “think” before they speak or act and to constantly learn and update their understanding of users, and the domain they operate in. This differs from ChatGPT and related models that are currently on the market, which cannot weigh decisions or update themselves in light of new information.
Until recently, the adaptive benefits of Active Inference agents were tempered by the fact that they relied on labor-intensive, hand-crafted methods to encode the generative ‘world’ model they use for reasoning and decision-making. This limitation restricted the widespread adoption of this approach to AI due to the scalability challenge it presented for real-world deployment. With the recent breakthroughs at VERSES believe this limitation will be overcome, paving the way for the automated creation and adoption of a new generation of adaptive intelligent agents.
After years of advanced research and development, VERSES, in a recent series of technical breakthroughs, has successfully overcome this limitation enabling the automated generation of Agents from small data sets. The development of this technology was led by VERSES Chief Scientist, Professor Karl Friston and R&D and engineering teams who have developed a transformative method for automatically generating intelligent software agents directly from domain-specific data that utilize HSML (Hyperspace Modeling Language), an explicit knowledge modeling language currently being developed into the P2874 IEEE standard that enables the translation of any multimodal data set (text, image, audio, sensor data) into a generative “world” model upon which an Agent can reason and act on.
The invention not only establishes a foundation for the automated creation of VERSES intelligent agents but also lays the groundwork for “guidance systems” for other AI. These systems are expected to contribute to safer and more efficient operation, better user alignment, predictive accuracy and the potential regulatory compliance of Large Language Models (LLMs) and other foundational models for text, audio, video, IoT devices, cameras, autonomous vehicles and robotics.
This patent application reflects the process of this standards-based AI agent generation and forms the basis for VERSES’ ongoing advancements in the AI space. The technology is intended to be demonstrated in the Company’s upcoming version of KOSM OS, an operating system for generating and running agents in the cloud or on devices or robotics systems as well as in GIA, their general intelligent agent personal service, expected to be released later this year. The issuance of the patent is subject to receipt of approval from the USPTO.
“We believe our latest patent filing marks a pivotal moment in the evolution of AI,” said Gabriel René CEO of VERSES AI. “By enabling AI systems to understand and interact with people and the world, we believe our technology has the potential for an era where intelligent, adaptable, and scalable autonomous systems are able to meet complex real-world challenges head-on. The potential applications of this technology and its use in KOSM OS span across industries and regions seeking to leverage smarter and safer AI technology.”
In all industries including, but not limited to, manufacturing, logistics, healthcare and education, the Company’s advancement is intended to create more efficient and effective AI solutions through the advent of increasingly intelligent, adaptable, and autonomous systems. The patent application is the latest in a new series related to VERSES’ recent technological advancements in the AI landscape.
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 Agent for anyone powered by KOSM™, a network operating system enabling distributed intelligence. Built on open standards, KOSM 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
[email protected]
Media and Investor Relations Inquiries
Leo Karabelas
Focus Communications
President
[email protected]
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, the capabilities and functions of the Company’s new AI software and hardware invention, the Company’s goal of developing human-centered intelligent agents, the capabilities and benefits of the Company’s AI agents, the results of the Company receiving a patent and deploying its new AI invention, the Company’s intention to create and adopt new generation adaptative intelligent agents, the receipt of a patent from USPTO in respect of the Company’s new AI invention, the potential improvements that can result from guidance systems developed with the new AI processes created by the Company, the Company’s ongoing advancements in the AI space, the fact that the Company’s new AI technology is intended to be demonstrated in its upcoming version of KOSM OS later this year, and that the Company will have additional patent applications relating to its recent technological advancements in the AI landscape.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will be successful in the deployment of its resources and personnel as it relates to the creation of new generation adaptative intelligent agents, that the new AI agents will provide the expected benefits and have the capabilities that have been disclosed, that competitive AI models and technologies will not displace the Company’s AI technology, that the Company will be successfully issued a patent for the patent application filed for its new AI invention, that the Company will not face unexpected regulatory obstacles, that the Company will have enough funding to develop, deploy and commercialize its new AI software and hardware, that the Company will have the resources to demonstrate the technology and that the demonstration will take place within the time frame expected, that the Company will be able to retain its key personnel, that the Company will not face any technology or operational disruptions and that the Company’s operations and ability to develop its products will not be adversely impacted by COVID-19, the ongoing conflict in Eastern Europe or other global events.
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 failure of the Company to successfully create the new generation adaptative intelligent agents within the timeframe expected or at all, the failure of the patent application filed for the Company’s new AI invention, the failure of the Company’s AI invention to perform as expected, the failure of the Company to create new guidance systems and for them to perform as expected, the risk that the Company’s AI technology is displaced by competitive technologies, unanticipated regulatory obstacles, intellectual property risks, the impact of technological inefficiencies, cyber security attacks, increase in competition, the volatility of global capital markets, political instability, the lack of access to capital or financing when required, the loss of key personnel, the Company could face technology or software disruptions, unanticipated costs, risks related to the COVID-19 pandemic, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets 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.
Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
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 Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
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Artificial Intelligence
atNorth Wins ‘Colocation Provider of the Year’ and ‘Digital Infrastructure Project of the Year’ at Industry Award Events
AtNorth recognized at the Electrical Review & Data Centre Review Awards and the Tech Capital Awards.
REYKJAVÍK, Iceland, May 24, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider has today announced further acknowledgement in the industry as it wins two significant awards.
The business has been awarded the `Colocation Provider of the Year’ award at the Electrical Review & Data Centre Review Awards. atNorth has undertaken a significant expansion strategy in recent years, that has ensured that the business can offer high performance infrastructure at speed and scale. This award reflects the business’ growth journey as it continues to innovate and adapt to technological advancements and client requirements.
atNorth has also won the `Digital Infrastructure Project of the Year’ at the Tech Capital Awards for its work with client, Shearwater Geoservices. The global marine imaging and processing leader achieved a 92% reduction in CO2 output and an 85% reduction in cost by moving a portion of its UK HPC infrastructure to one of atNorth’s Icelandic data center sites.
Fueled by the abundant renewable power sources of the Nordics, atNorth`s services deliver performance and efficiency for high density workloads in a sustainable way that enables clients to decarbonize their IT footprint and reduce overall costs.
Winners are voted for by a panel of industry experts for both awarding bodies in a process that aims to recognize the outstanding achievements within the digital infrastructure industry.
“We are thrilled to receive these acknowledgments for our data center services”, says Eyjólfur Magnús Kristinsson, CEO at atNorth. “atNorth has experienced significant growth over the last couple of years and this industry recognition is a testament to our dedication to delivering excellence across the board. We are determined to continue decarbonizing the world’s most demanding workloads in an efficient, sustainable, and cost-effective way.”
The news follows atNorth’s announcements of colocation clients Crusoe, BNP Paribas and Advania. The business has also received recent recognition from multiple other awarding bodies including; the Datacloud Global Awards, the Energy Awards, TechRound’s Sustainability60 and the UK Green Business Awards.
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High-Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high-performance workloads.
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Denmark in Q4 2024, as well as its tenth site ready for operation in Kouvola, Finland in 2025.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected]
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Artificial Intelligence
Titans of Tech: GP Bullhound releases its annual report on the European tech ecosystem
LONDON, May 24, 2024 /PRNewswire/ — Titans of Tech: Unrivalled era of A.I. led innovation for European Tech – No more excuses. GP Bullhound is proud to announce the release of its Titans of Tech 2024 report. For the tenth year in a row, GP Bullhound has released its annual Titans of Tech report, highlighting and analysing the growth trends in Europe’s tech ecosystem. This comprehensive analysis underscores the resilience and growth of Europe’s tech sector, setting the stage for a new era of innovation and investment.
Key takeaways from our report include:
The funding frenzy is over, but the new normal is very healthy: Funding levels have normalised, averaging €15Bn per quarter over the last year, which is ~50% higher than 2019.The value of the ecosystem is growing despite the failures: 14 new unicorns were created in the last 12 months. Europe and Israel now have 323 unicorns, up from 311 a year ago and 283 the year before. The ecosystem’s total valuation has grown to $1.2Tr, an ~11x increase in billion-dollar companies and a ~14x increase in aggregate valuation since our first report in 2014.Megarounds are fewer but larger and still accessible: Access to capital rounds exceeding $50 million has tightened, but investors remain interested in supporting innovators. The deal count dropped 68% over the last two years due to a focus on profitability and conservative planning. Only 17% of European unicorns raised capital in 2023, as 93% had already raised funds during the 2021-2022 bull market.Software innovation continues, shaping the way we live and work: Despite funding challenges, technological developments, especially in artificial intelligence, continue to drive automation and cost savings. European AI companies received over €11Bn in funding in the last year, with 36% of new unicorns being AI/ML businesses.Category leaders and geographies: This year, the UK and France lead the startup arena with three unicorns each. The UK’s unicorns are valued at $3.4Bn, with significant contributions from AI leaders Synthesia and Builder.ai. France’s trio reaches a collective valuation of $7Bn, highlighted by innovators like Mistral AI. Germany, Israel, and the Netherlands each added two unicorns, while Sweden and Italy added one unicorn each.Europe’s most promising startups: GP Bullhound has analysed more than 100 European startups for scale, velocity, and sentiment, and ranked the top 50 companies with the most potential to become one-billion-dollar companies. The top 10 include Agicap, Brevo, Typeform, Homa, AMBOSS, Akeneo, Form3, Flo Health, Aidoc, and ConnexOne.Manish Madhvani, Managing Partner at GP Bullhound, said: “After ten years of issuing our Titans of Tech report, we have witnessed the highs and lows of the European tech ecosystem. A year ago, the situation was less encouraging for the fundraising environment, with macro uncertainty and with businesses more focused on layoffs than on growth and innovation.
Today, against the backdrop of negative headlines, we have cemented the building blocks for the next wave of innovation. Funding levels have stabilised, and are amazingly 50% higher than pre bull market levels. With Europe’s maturing base of engineering talent and the world’s fascination in its potential productivity gains, artificial intelligence offers a unique opportunity to create global leaders in record time. There is no shortage of funding for the best entrepreneurs and companies, as evidenced by the record $220m seed round for Paris based H announced this week. What was noticeable about the round was the range of the investor syndicate : from strategics such as Amazon, Samsung and UI Path, household names such as Bernard Arnault, Eric Schmidt and Xavier Niel, and leading VC’s.Looking ahead, we expect the next few years to represent an era of unprecedented innovation in the European ecosystem. Innovation is flowing, vast amounts of capital are available for the strong and the talent pool is expanding. No more excuses Europe!”
Expert interviewsWhat does it take to build a billion-dollar company? What are the critical success factors for European tech? How to remain resilient in a challenging market and benefit from economic downturns? This year’s report features expert views from leading founders and CEOs, including Synthesia, Quantexa, SEON, Flo Health, Zappi and CoverManager.
Download full report: www.gpbullhound.com/articles/titans-of-tech-2024
EnquiriesFor enquiries, please contact: [email protected]
About GP BullhoundGP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.
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