VERSES and Volvo Cars Demonstrate Pedestrian Vehicle Safety Advancement

Genius™ Aims to Provide Safer Autonomous Driving By Predicting and Avoiding Unseen Pedestrians

Vancouver, BC – 21  October 2024 – VERSES AI Inc. (CBOE:VERS) (OTCQX:VRSSF) ("VERSES'' or the "Company”), a cognitive computing company specializing in next generation intelligent systems, today announces the initial results of the Genius™ Beta Partner collaboration and the publishing of a paper co-authored by research teams at both Volvo Cars and VERSES.  The paper uses VERSES’ algorithms to predict the appearance of pedestrians, cyclists, and cars that are obscured behind stationary vehicles and objects. An advancement beyond current capabilities of autonomous vehicle AI.

“As the automotive industry progresses towards fully autonomous self-driving cars, predicting where unseen obstacles like people or bicyclists may be or which trajectory they may be on has been a significant unsolved safety challenge. We believe the inability of current autonomous driving systems to overcome this hurdle is holding back the AV industry worldwide.  Volvo Cars is globally recognized for its unwavering commitment to vehicle safety. So, they were the perfect partner to work with to showcase how VERSES can help solve this problem,” said Gabriel Rene´, CEO of VERSES. “We believe this research project with Volvo Cars; part of our Genius Beta project, demonstrates a major advancement in autonomous vehicle safety capability.  We expect the research project to pave the way for safer streets for pedestrians, cyclists, cars, robots, and beyond."

The paper titled, “Navigation under uncertainty: trajectory prediction and occlusion reasoning with switching dynamical systems,” can be found on VERSES website or on Arxiv here: https://arxiv.org/html/2410.10653v1

The paper explores a way to predict the trajectory of movement for people, animals, and objects occurring behind stationary objects like parked cars to help vehicles and drivers avoid them if the people enter the street unexpectedly.  The research presents completed experiments illustrating capabilities using the Waymo open dataset.  The results demonstrate significant improvements in predicting animals, people, and objects entering the street; something that vehicles with current AI have not been able to do.

About VERSES

VERSES is a cognitive computing company building next-generation intelligent software systems modeled after the wisdom and genius of Nature.  Designed around first principles found in science, physics and biology, our flagship product, Genius™, is a toolkit for developers to generate intelligent software agents that enhance existing applications with the ability to reason, plan, and learn.  Imagine a Smarter World that elevates human potential through technology inspired by Nature.  Learn more at verses.ai, LinkedIn, and X.

On behalf of the Company 
Gabriel René, Founder & CEO, VERSES AI Inc. 
Press Inquiries: press@verses.ai 

Investor Relations Inquiries 
U.S., Matthew Selinger, Partner, Integrous Communications, mselinger@integcom.us 415-572-8152
Canada, Leo Karabelas, President, Focus Communications, info@fcir.ca 416-543-3120

Cautionary Note Regarding Forward-Looking Statements

When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although VERSES believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this press release include, among other things, statements regarding the expectation that the research project will pave the way for safer streets for pedestrians, cyclists, cars, robots and beyond.

There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. In making the forward-looking statements in this news release, the Company has applied various material assumptions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause VERSES actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: that the research project will pave the way for safer streets for pedestrians, cyclists, cars, robots and beyond. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable).

Additionally, forward-looking statements 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 the Company 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: that the research project will not pave the way for safer streets for pedestrians, cyclists, cars, robots and beyond as expected by management or at all. VERSES cautions that the foregoing list of material factors is not exhaustive. When relying on VERSES’ forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. VERSES has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of VERSES as of the date of this press release and, accordingly, are subject to change after such date. VERSES does not undertake to update this information at any particular time except as required in accordance with applicable laws.