VERSES AI Q3 Corporate Update Company Announces Launch of Next-Generation Intelligent Software Platform

Vancouver, BC, – 20 September 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, announced the rollout of its next-generation intelligent software platform in the Q3 Corporate Update.  

Today, in a comprehensive address to investors, VERSES CEO and founder, Gabriel René, shared the substantial progress made this year and provided a glimpse of what lies ahead, underpinned by a special message on how to view the company as it sharpens its focus and long-term goals through the introduction of Genius™ and the quest to lead the market in AGI (Artificial General Intelligence). Genius is best described as a platform for generating digital "brains" that can understand complex information, learn and adapt, and function as an executive or personal assistant.  In the address, Mr. René writes:

We believe we are the best-positioned organization to become the market leader in the race to Artificial General Intelligence (AGI), which is often referred to as the 'holy grail' of AI. Our conviction stems from a combination of crucial factors: our scientific expertise, a highly skilled and visionary team, verifiable proof-of-concept and robust partnerships and alliances. We've also secured strong intellectual property rights, giving us a unique edge in innovation. Our initial market traction indicates a promising path ahead, setting us apart in a landscape filled with contenders.

We're not just participating in the AI revolution; we're on track to disrupt the most disruptive technology in history. The next 12 months promise to be transformational for our company and the broader AI ecosystem. Our multi-pronged strategy is poised to accelerate our journey towards AGI, bringing along transformative changes that will impact industries, societies and individual lives. Stay tuned, as we unveil groundbreaking advancements in the pursuit of generalizable, ethical and highly efficient AI solutions. 

Further, in the Corporate Update, Mr. René pointed out to investors VERSES' achievements in 2023 that reflected the company's well-executed plans:

1. Advancing Scientific Foundations: VERSES collaborated and published 70 papers with 40 universities around the world on the complex science of advanced intelligent software.
2. Establishing Global Standards: VERSES initiated the Spatial Web Foundation, partnered with IEEE and engaged with more than a hundred global working group members assisting the development of P2874 Spatial Web Standard.
3. Government Partnerships: VERSES set up offices in Europe was selected by the European Commission to develop AI Governance for Autonomous Drone activities and became part of dAIEDGE—a network of excellence for Edge AI.
4. Influencing Research and Consulting: VERSES gained attention from influential organizations like Deloitte and Gartner Research and collaborated with Dentons, the world’s largest law firm to release "The Future of Global AI Governance.”
5. Partnering with Fortune 500 Corporations: VERSES' vision captured the interest of large corporations, leading to successful pilots and partnerships. VERSES also secured contracts with prominent companies in the warehousing and pharmacy retail sectors.
6. Attracting Top Talent: VERSES expanded its team to over 100 professionals, including 25 PhDs. VERSES strategic diversity in expertise sets solid foundations for exponential growth.

Genius beta rollout is expected to begin in October with early access limited to private beta partners and developers through the end of the year.  The public release of Genius is expected in early 2024. With this list of milestones, VERSES demonstrates its leadership, innovation and commitment to shaping the conversation around AGI. With foresight and an unwavering commitment to its mission, VERSES is well positioned to lead the way toward a smarter and safer future for AI.

To read the complete Corporate Update, click here: www.verses.ai/blogs/corporate-update

On Behalf of the Company 
Eric Holder, Director of Communications, VERSES AI Inc., press@verses.ai

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

Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the Company's long term goals relating to to lead the market in AGI, the fact that VERSESʼ next-generation intelligent software, Genius™ , will be the Company's central focus going forward; the capabilities of Genius™; management's belief that the Company is a well-positioned organization to become a competitive participant in the AGI market; the fact that the AGI market is rapidly-evolving the Company's objective to disrupt the AI industry; the Company's goal to create meaningful advancements for the Company and the broader AI ecosystem in the next 12 months; the Company's intention to use its strategy to create changes that will impact industries, societies and individual lives; the Company's business objectives; the Company's belief that its diversity in expertise will contribute to its growth; when the Genius™ beta rollout is expected to begin and the fact that early access will be provided to private beta partners and developers through the end of 2023; the expected timing of the public release of Genius™; and the fact that VERSES seeks to contribute to a smarter and safer future for AI. 

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Companyʼs cost and timing expectations are accurate; that Genius™ will be able to achieve the expected results; that the Company will be successful in the deployment of its resources and personnel; the Companyʼs ability to develop and test the Genius™ technology within the anticipated timelines; that results of testing and development data will be consistent with anticipated results and estimates; that the Company will be successful in competing in the AGI market; that the Company will be able to roll out the Genius™ technology within the time frames expected; that the Company will not come across technology or other barriers preventing it from achieving its business objectives and commercializing the Genius™ technology; and that the Companyʼs technology will impact the AI market and the Companyʼs success in the AI market as anticipated. 

Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of VERSES to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: VERSESʼs operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations including the ability of the Company to develop and commercialize its products and the release and deployment of the Genius™ technology; political instability; unexpected development and production challenges; VERSES could face technology or software disruptions; unanticipated costs; the Genius™ technology may fail to perform as expected; the results of the beta release of the Genius™ technology could fail to support the release of the technology to the public; the Company could face increased competition; the Companyʼs technology could fail to impact the AI market as anticipated; the loss of key personnel; and the loss of key partnerships necessary for the Company to achieve its business objectives.

Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither VERSES nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither VERSES nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.