NVDA - New AI Solutions Continue To Rock The Foundation Of Logistic Operations
2023-04-20 10:12:59 ET
The %Logistics industry has been rapidly adopting %ArtificialIntelligence (AI) technology in recent years to improve efficiency and reduce costs. According to a report by DHL , the global logistics AI market is expected to grow at a compound annual growth rate (CAGR) of 45% between 2020 and 2027.
The report also highlights that market forces are making the move towards robotics and AI in warehouses even more urgent as e-commerce customers are becoming more demanding and expect nearly instant deliveries, free of charge.
The use of AI in logistics can help companies optimize their supply chain operations by predicting demand, reducing inventory costs, and improving delivery times. AI can also help companies reduce their carbon footprint by optimizing routes and reducing fuel consumption.
With the increasing adoption of AI technology in logistics, it is clear that companies that do not embrace this technology will be left behind in the race for efficiency and cost savings.
One company that is successfully tackling the new demands and the challenges that come with this logistics revolution is VERSES AI : a cognitive computing company specializing in next generation AI. Verses AI has developed KOSM™ ,the world’s first network operating system for enabling %DistributedIntelligence .
Verses: an all-in-one integrated logistics solutions provider
%VersesAI (NEO: ) (OTCQX: ) is an enterprise focused in cognitive computing and next-gen Artificial Intelligence. VERS’ flagship is the KOSM ™ operating system - the world's first network OS designed to enable distributed intelligence.
With KOSM ™, users can create, manage, and monetize digital twins of any virtual or physical entity, including products, assets, spaces, and processes. This system allows for the orchestration of complex interactions across several domains and scales such as supply chains, smart cities, and metaverses.
KOSM ™ utilizes advanced AI techniques, including computer vision, machine learning, natural language processing, and knowledge graphs to provide users with context-rich insights, intelligent suggestions, and intuitive interfaces. Additionally, KOSM ™ integrates with blockchain technology to ensure security, transparency, and trust in data transactions and collaborations.
One of KOSM ™'s main applications is Wayfinder : an AI-assisted order picking solution designed for warehouse operations. Using visual navigation and multi-lingual audio cues, %Wayfinder guides logistics workers through the optimal picking path , reducing errors and increasing productivity by over 30%, simultaneously boosting worker satisfaction and retention.
Verses AI published new proprietary research on a future path for AI based on active inference: an approach modeled on how humans and things in nature understand the world and learn patterns. Dr. Karl Friston , Verses AI's Chief Scientist, led the research. He is widely regarded as one of the most influential neuroscientists of our time.
Verses AI’s leadership team comprises a group of accomplished professionals in the fields of artificial intelligence, engineering, design, computer science, and business who are committed to driving innovation in tandem with the market’s expectations.
The company has established strategic partnerships with industry giants including IBM Watson, Microsoft Azure, NVIDIA (NASDAQ: ), and Spatial Web Foundation. Verses AI has received several accolades and honors such as the Fast Company's World Changing Ideas 2021 and CES Innovation Awards 2020 .
At the core of Verses's vision is an ambitious goal to bring about a world where data is transformed into knowledge, knowledge is translated into wisdom, and wisdom is translated into action.
Running the numbers
In its most recent financial report, Verses AI disclosed revenues of $1.2 million up from $0.8 million for the same period in the previous year. They also recently closed a Private Placement in which they secured just over C$7,5 million in additional funding.
Earlier this year, the Company has changed its name from Verses Technologies Inc. to Verses AI Inc. The new name has been chosen to better reflect the focus of the Company’s business. The Company will keep its trading symbol on the NEO Exchange Inc. “VERS”.
To learn more about Verses AI and its innovative solutions, visit their website at verses.ai or follow them on Twitter @versesio.
About VERS
VERSES AI Inc. ( NEO:VERS ), a cognitive computing company, specializes in next generation artificial intelligence. It develops KOSM, a network operating system for enabling distributed intelligence; Wayfinder, an AI assisted order picking solution; and GIA, an intelligent assistant for everyone. The company was formerly known as Verses Technologies Inc. and changed its name to VERSES AI Inc. in March 2023. The company was incorporated in 2020 and is based in Los Angeles, California.
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