VANCOUVER, British Columbia, Nov. 28, 2022 (GLOBE NEWSWIRE) -- VERSES Technologies Inc. (NEO:VERS) (OTCQX:VRSSF) ("VERSES'' or the “Company”), a cognitive computing company specializing in the next generation of Artificial Intelligence (AI), is pleased to announce its partnership with Blue Yonder, a company specializing in digital supply chain and omni-channel commerce fulfillment providing solutions to over 3500 of the world’s largest retailers and warehouse distribution providers across 78 countries. VERSES is expected to equip and empower warehouses and distribution centers with adaptive intelligence and Spatial Twin management applications designed to generate a unified real time world model in order to better simulate and orchestrate workflow optimization, verifiable traceability, and intelligent automation.
With persistent challenges currently facing global supply chains such as continued labor shortages, equipment availability, and the ripple effect of global bottlenecks, companies are looking for technology solutions to help navigate this era of unpredictability. By deploying adaptive intelligence and corresponding Spatial Twin applications, supply chain companies can deploy intelligent capabilities routing, slotting, and capacity.
“Partnering with VERSES provides our customers with an unparalleled view of their physical space and an actionable set of tools to continually improve and refine their operations,” said Matt Balthasar, Director of Edge Technology at Blue Yonder. “This partnership is more than a technical integration; it sets a new standard for the market today and into the future.”
“We are very excited to partner with Blue Yonder to resell VERSES spatial management applications to their global customer base,” said Gabriel René, Founder and CEO at VERSES. “Logistics providers and the supply chain at large are looking for advancements in technology that pull spatial, semantic and social data into one location, and VERSES artificial intelligence technologies provide the necessary foundation for interoperability of theses domains -connecting the physical and digital worlds in every warehouse, distribution center, port, retail space and beyond.”
About VERSES
VERSES is a cognitive computing company specializing in next-generation Artificial Intelligence. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES flagship offering, KOSM™, is a network operating system for enhancing distributed intelligence. Built on open standards, KOSM transforms disparate data into a universal context that fosters trustworthy collaboration between humans, machines, and AI, across digital and physical systems. Imagine a smarter world that elevates human potential through innovations inspired by nature. Learn more at VERSES, LinkedIn, and Twitter.
On Behalf of the Company
Gabriel René
VERSES Technologies Inc.
Co-Founder & CEO
press@verses.io
Media and Investor Relations Inquiries
Leo Karabelas
Focus Communications
President
info@fcir.ca
416-543-3120
NEO Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.
Forward-Looking Statements Cautionary Note
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates,” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “should,” “would” or “occur”. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, that VERSES is expected to equip and empower warehouses and distribution centers with adaptive intelligence and Spatial Twin management applications pursuant to the Blue Yonder partnership and that supply chain companies can deploy intelligent capabilities routing, slotting, and capacity by deploying adaptive intelligence and Spatial Twin applications. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will be successful in its continued deployment of its adaptive intelligence and Spatial Twin management applications, that VERSES’ adaptive intelligence and Spatial Twin management applications will perform as anticipated at and will be accepted by warehouses and distribution centers and that the Company’s ability to develop its products will not be adversely impacted by COVID-19 or the ongoing conflict in Eastern Europe. These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks relating to VERSES’ adaptive intelligence and Spatial Twin management applications not being widely adopted or not performing as expected, the impact of technological inefficiencies, cyber security attacks, adverse changes in legislation relating to the digital twin market, increase in competition, the volatility of global capital markets, political instability, the lack of access to capital or financing when required, the loss of key personnel, technology or software disruptions, unanticipated costs, risks related to the COVID-19 pandemic, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets and other risk factors disclosed in the Company’s disclosure record on www.sedar.com under the Company’s profile. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
