The artificial intelligence (AI) story is getting far more exciting by the day. We already know AI could be a $1.8 trillion by 2030, according to Statista. We also know companies are racing toward Artificial General Intelligence (AGI), where AI can perform all human cognitive skills better than the smartest human. Now, we’re learning that companies, like VERSES Technologies (CBOE: VERS) (OTCQB: VRSSF) are unlocking further AI potential with major auto companies, such as Volvo (OTCMKTS: VLVLY) with advanced driver assistance and autonomous driving. All in an effort to created far more intelligence decision-making systems and a safer driving environment. That’s not only a solid advancement for VERSES Technologies Inc. and Volvo, but also for companies, such as Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), and Alphabet Inc. (NASDAQ: GOOG).
VERSES Technologies Inc. (CBOE: VERS) (OTCQB: VRSSF) Accelerating with Volvo
VERSES AI Inc., a cognitive computing company specializing in next-generation intelligent software systems, announced that the Volvo Car Group has joined VERSES Genius™ Beta Program.
The collaboration will entail Volvo testing Genius in applications related to advanced driver assistance and autonomous driving. The goal is to create more intelligent decision-making systems and a safer environment for all drivers on the road. The Company believes this strategic move underscores Volvo's proactive approach to testing and implementing innovative solutions with high impact potential on human and autonomous driving safety.
“We are extremely pleased to have Volvo join our Genius Beta Program. We believe expanding our relationship to address the challenges related to assisted and autonomous driving safety will have the potential to demonstrate how the standards-based approach and cognitive computing capabilities built into Genius emphasize its relevance to worldwide companies like Volvo and society’s need for safer solutions. Creating a safer world reflects the shared objectives of both companies. We very much appreciate that this is a core attribute of Volvo’s business model, reputation and culture that we also embrace,” said Gabriel René, founder and CEO of VERSES.
Volvo has been engaged in developing spatial intelligence solutions and the joining Geniu Beta Program aligns with Volvo's dedication to creating technologies that contribute to safer roads. The Company believes that Volvo reinforces its competitive position in automotive safety by actively engaging with solutions such as Genius and sets the stage for the future of intelligent and secure mobility.
Other related developments from around the markets include:
Volvo and Renault Group joined forces to address the growing needs of decarbonized and efficient logistics by creating a new company managing the development of an all-new generation of electrified vans. The two groups look forward to CMA CGM joining the new company. Renault and Volvo will continue to seek additional investment and business partners. An all-new family of fully electric and software defined vehicles will be introduced by the new company. The production is planned to start in 2026.
Nvidia reported revenue for the third quarter ended October 29, 2023, of $18.12 billion, up 206% from a year ago and up 34% from the previous quarter. GAAP earnings per diluted share for the quarter were $3.71, up more than 12x from a year ago and up 50% from the previous quarter. Non-GAAP earnings per diluted share were $4.02, up nearly 6x from a year ago and up 49% from the previous quarter. “Our strong growth reflects the broad industry platform transition from general-purpose to accelerated computing and generative AI,” said Jensen Huang, founder and CEO of NVIDIA.
Microsoft and Siemens are deepening their partnership by bringing the benefits of generative AI to industries worldwide. As a first step, the companies are introducing Siemens Industrial Copilot, an AI-powered jointly developed assistant aimed at improving human-machine collaboration in manufacturing. In addition, the launch of the integration between Siemens Teamcenter software for product lifecycle management and Microsoft Teams will further pave the way to enabling the industrial metaverse. It will simplify virtual collaboration of design engineers, frontline workers, and other teams across business functions.
Alphabet and VMware announced an expanded partnership to deliver Google Cloud’s AlloyDB Omni database on VMware Cloud Foundation, starting with on-premises private clouds. The powerful combination of AlloyDB Omni, a PostgreSQL-compatible database that runs anywhere and offers built-in support for generative AI, and the highly performant, more secure, reliable VMware Cloud Foundation, will enable enterprises to modernize their more demanding databases and applications. The solution will allow customers to simplify their management of PostgreSQL, modernize their existing databases, and help accelerate their Al journey with a powerful, proven platform for building transformative generative AI applications.
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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