Mr. Gabriel Rene reports

VERSES AND ANALOG ANNOUNCE SMART CITY INITIATIVE IN ABU DHABI

Verses AI Inc. has begun the first in a series of joint smart-city projects with Analog, an edge computing company focused on seamlessly connecting people, places and things using smart sensors and mixed reality devices, to simulate taxi fleet management in Abu Dhabi. Utilizing Genius, the project objective is to understand how to optimize fleet operations while minimizing congestion and emissions.

"We are excited to kick off this first commercial project and partnership with Analog," said Gabriel Rene, chief executive officer of Verses. "Genius is ideally suited for smart cities where there are many stakeholders, each with different systems, hardware and methods for capturing and processing real-time sensor data. We aim to empower Analog with the tools to transform data from various sources into a unified model upon which Genius agents continuously generate insights and recommendations in order to optimize activity, with the goal of producing significant cost savings and efficiency improvements for fleet operators."

The project objectives include: (i) increasing the number of taxis in operation during designated periods of high demand, ensuring the highest possible fleet activity; (ii) determining the optimal allocation of tasks for each taxi and driver, balancing operational demands with available resources; and (iii) automatically scheduling and conducting maintenance activities, ensuring that each taxi receives timely maintenance, and the arrangement aligns with facility capacities and capabilities.

By combining real-time disparate data sources into a probabilistic world model with factors such as local events, weather, fleet details, personnel preferences, legal requirements, maintenance schedules and inventory, Analog will be able to better monitor and respond to the dynamics of the overall city ecosystem, with a positive impact on several dimensions, including improved traffic and reduced air pollution.

"Our vision of AI-powered [artificial intelligence] edge computing is well aligned with Verses's vision of a smarter world, and we are eager to leverage Genius to not only provide business value but also to amplify human skills and simplify everyday life," said Alex Kipman, Analog founder and CEO. "This smart-city project is a testament to Abu Dhabi's commitment to advancing technology for the benefit of society. We expect a string of smart-city projects that will address challenges in mobility, health care, energy and more, paving the way for a more connected and sustainable future."

This pilot project is the first in a series of commercial projects that Verses and Analog, both G42-financed companies, expect to develop together in Abu Dhabi, with expected generated revenue for Verses of approximately $3-million (U.S.).

Leveraging Verses's Genius platform, future initiatives in Abu Dhabi intend to focus on projects in key sectors such as smart mobility, health care and energy, in collaboration with United Arab Emirates industry stakeholders.

Both Mr. Rene and Mr. Kipman will host a webinar to discuss their companies' partnership and this smart-city initiative on Tuesday, Oct. 1, 2024, at 1 p.m. PT (4 p.m. ET). Interested parties can register beginning today until the event.

About Verses AI Inc.

Verses is a cognitive computing company building next-generation intelligent software systems modelled after the wisdom and genius of nature. Designed around first principles found in science, physics and biology, the company's flagship product, Genius, is a tool kit 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.

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