The artificial intelligence story shows no signs of cooling. Instead, according to McKinsey the AI market could swell to $17 trillion to $25 trillion by 2030. In addition, AI related spending will make up about 8% to 10% of IT budgets in 2024, according to Wedbush. “This demonstrates a remarkable acceleration in AI spending after it comprised less than 1% of IT budgets in 2023,” added Seeking Alpha. All of which could positively impact VERSES AI (CBOE: VERS) (OTCQB: VRSSF), Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), C3 AI (NYSE:AI) and Amazon.com (NASDAQ: AMZN) to name a few of the top ones.
Even better, companies like Microsoft, Alphabet, Meta and Amazon all expect to spend billions on AI infrastructure to strengthen their position in the AI space. Plus, according to Goldman Sachs, “big tech companies are set to collectively spend over $1 trillion on artificial intelligence over the next five years,” says Investopedia.com.
Look at VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF), For Example
VERSES AI Inc., a cognitive computing company specializing in next generation intelligent systems, announces that the Institute of Electrical and Electronics Engineers Standards Association (IEEE-SA) P2874 working group voting members have approved the Spatial Web standards: Hyperspace Modeling Language (HSML) and Hyperspace Transaction Protocol (HSTP).
“We are honored that the IEEE working group members have approved HSML and HSTP as the global standards for AI, IoT and robotic interoperability and governance. The approval positions these new standards to potentially become as ubiquitous as HTTP, WiFi, or Bluetooth protocols that enable interoperability between billions of devices and systems,” said Gabriel René, CEO of VERSES. “Industry and governments want to safely drive the proliferation of AI and autonomous technologies and we believe that the Spatial Web standards pave the road for both safer and faster market adoption.”
The Spatial Web is a hyper-connected, ethically-aligned network of humans, machines, and intelligent systems. HSML and HSTP provide standard formats for structuring multidimensional information in a unified format that includes the rules, requirements and restrictions that govern how AI and related systems can interact.
VERSES is the first company to apply the Spatial Web standards in their product, Genius™, a toolkit for developers to generate intelligent software agents that enhance existing applications with the ability to reason, plan, and learn. “Unlike generative AI platforms which simply remix content based on their training data, Genius Agents have a world model, like a mental model, which they continuously update in order to make increasingly accurate predictions. The Spatial Web standards allow agents to share these world models and therefore enable a distributed network of composable agents that can coordinate and interoperate with other software, “ said Chief Product Officer, Hari Thiruvengada.
In their 2024 Hype Cycle for AI report, Gartner recently classified VERSES approach with Genius as First Principles AI which enables a more reliable representation of context, accelerated training, data efficiency, improved generalizability, enhanced interpretability, and more adaptive systems as compared to current mainstream machine learning methods. More information on VERSES approach can also be found in a paper the Company released in 2023 entitled, “Designing Ecosystems of Intelligence from First Principles.”
The final steps before IEEE publication include addressing comments from the non-approval votes and verification by a review committee. Future plans for the working group include developing reference implementations and exploring governance requirements for various industries.
Other related developments from around the markets include:
Nvidia and Hewlett Packard announced NVIDIA AI Computing by HPE, a portfolio of co-developed AI solutions and joint go-to-market integrations that enable enterprises to accelerate adoption of generative AI. Among the portfolio’s key offerings is HPE Private Cloud AI, a first-of-its-kind solution that provides the deepest integration to date of NVIDIA AI computing, networking and software with HPE’s AI storage, compute and the HPE GreenLake cloud. The offering enables enterprises of every size to gain an energy-efficient, fast and flexible path for sustainably developing and deploying generative AI applications. Powered by the new OpsRamp AI copilot that helps IT operations improve workload and IT efficiency, HPE Private Cloud AI includes a self-service cloud experience with full lifecycle management and is available in four right-sized configurations to support a broad range of AI workloads and use cases.
Microsoft will publish fiscal year 2024 fourth-quarter financial results after the close of the market on Tuesday, July 30, 2024, on the Microsoft Investor Relations website at https://www.microsoft.com/en-us/Investor/. A live webcast of the earnings conference call will be made available at 2:30 p.m. Pacific Time.
C3 AI, the Enterprise AI application software company, today announced C3 Generative AI for Government Programs, a generative AI application that helps federal, state, and local governments quickly deliver accurate information to the public about government programs ranging from healthcare, employment, financial assistance, and more. The application streamlines access and comprehension of complex government programs and processes for hundreds of millions of citizens and residents, helping them navigate systems and services with ease. With C3 Generative AI for Government Programs, federal, state, or local government agencies can eliminate service delays, reduce wait times, make contact centers more effective, and improve the citizen experience. By empowering the public to find answers directly through an intuitive search and chat interface, support centers will see decreased inquiry volumes and strain, allowing service representatives to focus on more complex cases and inquiries.
Amazon Web Services, Inc. (AWS), an Amazon.com company, announced the launch of AWS GenAI Lofts, a global tour designed to foster innovation and community in the evolving landscape of generative artificial intelligence (AI) technology. This initiative will bring collaborative pop-up spaces to key AI hotspots around the world, offering developers, startups, and AI enthusiasts a platform to learn, build, and connect. Visitors will benefit from immersive experiences showcasing cutting-edge generative AI projects, workshops, fireside chats, and hands-on programming from AI experts, community groups, AWS Partners, including Anthropic, Cerebral Valley, Weights & Biases, and venture capital investors.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for VERSES AI Inc. by VERSES AI Inc. We own ZERO shares of VERSES AI Inc. Please click here for disclaimer.
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