The age of artificial intelligence (AI) is here. And it could very well transform just about everything, creating a multi-billion-dollar opportunity in the process. Google CEO Sundar Pichai once said AI is “more profound than fire or electricity.” Baidu chairman Robin Li Yanhong says, “If the internet was the appetizer, then AI is the main course. The internet changed a lot of our daily lives, but did not have much impact on the 2B industries. I think AI will change that.”
MIT Technology Review says, “Artificial intelligence is changing the world and doing it at breakneck speed. The experts go on to predict a 50 percent chance that AI will be better than humans at more or less everything in about 45 years.” All could be beneficial for companies such as VERSES Technologies Inc. (NEO: VERS) (OTCQX: VRSSF), Nvidia Corp. (NASDAQ: NVDA), Intel (NASDAQ: INTC), C3.ai Inc. (NYSE: AI), and Upstart Holdings (NASDAQ: UPST).
According to Marketing AI Institute, “Artificial intelligence will, on average, boost rates of profitability by 38% and provide an economic boost of $14 trillion in additional gross value by 2035, according to research by Accenture. The opportunity facing both companies who adopt AI and those that sell it is massive. Accenture expects higher double-digit gains in profitability and a huge economic boost from AI in the next two decades.”
Look at VERSES Technologies Inc. (NEO: VERS) (OTCQX: VRSSF), For Example
VERSES is a next-generation AI company providing foundational technology for the contextual computing era. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES’ flagship offering, COSM™, is an AI Operating System for enhancing any application with adaptive intelligence. Built on open standards, COSM transforms disparate data into a universal context that fosters trustworthy collaboration between humans, machines, and AI, across digital and physical domains.
The company recently announced novel approach to the design and development of the next generation of AI known as Artificial General Intelligence (AGI) intelligent agents with human-level intelligence that can learn, adapt and act in the world. The paper, entitled “Designing Ecosystems of Intelligence from First Principles,” presents a vision and roadmap for AI based on a field of research called Active Inference. KOSM, the network operating system from VERSES, uses the Active Inference framework as the foundation for its AI decision-making and planning capabilities.
Artificial Intelligence has broad applications spanning industrial automation, shopping recommendations, computer vision, voice assistants, self-driving vehicles, generative art, customer service, and more. The global AI market is projected to grow to USD $1.394 trillion by the end of the decade. Despite its successful applications, AI has fundamental challenges impeding the ultimate aspiration of human (or super-human) level generalized machine intelligence. Conventional AI works by recognizing patterns within large data sets that can cost millions of dollars to train and deploy. Moreover, today’s AI models are custom-built for narrow problem sets, for example, a model designed to alleviate traffic congestion can’t be applied to help identify medical issues in x-rays.
VERSES Chief Scientist, Dr. Karl Friston, pioneered a different approach modeled on the way that humans – and things in nature more generally – understand the world and learn patterns. This approach, called Active Inference, describes how biological intelligence observes the world, orients, and makes decisions about how to act based on sensory observations or data, all in real time in contrast to today’s AI known as Deep Learning which heavily relies upon massive historical data sets. Active Inference acknowledges that the world is a messy place and that fundamental to great decision-making is reducing uncertainty in order to achieve expected outcomes. “Active Inference is a universal scheme for intelligent behavior. Operationally, Active Inference is a process of belief updating and propagation that has two aspects: inferring states of affairs in the world that generate data and inferring the best plans for actively acquiring more data,” said Friston.
VERSES CEO, Gabriel René, comments, “We are moving from the Information Age to the Intelligence Age, and this groundbreaking paper – the culmination of decades of advanced scientific research and development – describes, for the first time, a genuine path to achieving the ‘holy grail’ AGI not as a single algorithm but as an ecosystem of collective intelligence. This powerful science is the foundation of our KOSM platform.” Using Active Inference, KOSM enables the design and deployment of a new generation of intelligent agents capable of working together to provide unprecedented insights, recommendations, and autonomous capabilities to enhance any application across any industry. René continues, “VERSES mission is to enable a smarter world where the power to design and deploy AI is extended beyond those with big data to anyone with big ideas.”
VERSES Research Lab collaborated with the following universities on the white paper:
- Welcome Centre for Human Neuroimaging, University College London, London, UK,
- Department of Philosophy, Monash University, Melbourne, Australia Sussex AI Group
- Department of Informatics, University of Sussex, Brighton, UK
- Department of Computer Science, Université du Québec à Montréal, Montréal, Québec, Canada Department of Experimental Psychology, University of Oxford, Oxford, UK
- Department of Collective Behaviour, Max Planck Institute of Animal Behavior, Konstanz, Germany Department of Biology, University of Konstanz, Konstanz, Germany
- Centre for the Advanced Study of Collective Behaviour, University of Konstanz, Konstanz, Germany
- Network Science Institute, Northeastern University, Boston, Massachusetts, USA
- Brain Network Dynamics Unit, University of Oxford, Oxford, UK
- Department of Mathematics, Stony Brook University, Stony Brook, New York, USA
- Department of Physics and Astronomy, Stony Brook University, Stony Brook, New York, USA Department of Biomedical Engineering, Stony Brook University, Stony Brook, New York, USA Topos Institute, Berkeley, California, USA
- Department of Electrical Engineering, Eindhoven University of Technology, Eindhoven, The Netherlands
- Department of Philosophy, Université du Québec à Montréal, Montréal, Québec, Canada
The contextualized data structure and messaging that KOSM employs are based on open specifications developed by the Spatial Web Foundation and being standardized within the IEEE Standards Association. The Designing Ecosystems of Intelligence from First Principles white paper is publicly available at arxiv.org.
Other related developments from around the markets include:
Nvidia Corp. and Lockheed Martin announced a collaboration to build an Artificial Intelligence (AI)-driven Earth Observations Digital Twin that will provide the National Oceanic and Atmospheric Administration (NOAA) with an efficient and centralized approach to monitor current global environmental conditions, including extreme weather events. The two companies expect to fully integrate and demonstrate one of the variable data pipelines — sea surface temperature — by September 2023, one year after initial contract award. Presently, NOAA receives terabytes of data about its five earth systems domains — the cryosphere, land, atmosphere, space weather and ocean — from numerous space and Earth-based sensor sources. NOAA administrators and researchers have to collect, combine and analyze that information to observe and understand environmental conditions and changes.
Intel Labs and the Perelman School of Medicine at the University of Pennsylvania (Penn Medicine) have completed a joint research study using federated learning – a distributed machine learning (ML) artificial intelligence (AI) approach – to help international healthcare and research institutions identify malignant brain tumors. The largest medical federated learning study to date with an unprecedented global dataset examined from 71 institutions across six continents, the project demonstrated the ability to improve brain tumor detection by 33%.
C3.ai Inc. received the first three orders in its five-year, $500 million Production-Other Transaction Agreement sponsored by the U.S. Missile Defense Agency (MDA), which will be applicable across the Department of Defense (DoD). All three orders will leverage the C3 AI Platform to accelerate deployment of critical enterprise artificial intelligence capabilities across the MDA. “An enterprise AI platform that allows for credible assessment of combined kinetic and non-kinetic effects across domains is critical to optimize and correctly evaluate missile defense mission effectiveness,” said Ed Abbo, C3 AI President and CTO. “We are thrilled to fulfill the MDA’s first three orders in our five-year partnership.”
Carver Federal Savings Bank, a certified Minority Depository Institution announced that it has partnered with Upstart, a leading artificial intelligence (AI) lending marketplace, to provide personal loans to more borrowers and unlock credit where it is needed the most. "Upstart's AI technology is supporting Carver Bank’s priority to provide affordable credit to our customers. By using AI, we are expanding credit access while more appropriately assessing the creditworthiness of loan applicants to go beyond narrowly focused traditional credit scores," said Michael T. Pugh, President and CEO of Carver. “Our partnership with Upstart is yet another way Carver aims to spread economic empowerment across the diverse communities the Bank serves."
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 Technologies Inc. by VERSES Technologies Inc. We own ZERO shares of VERSES Technologies Inc. Please click here for full disclaimer.
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