VERSES® Shareholder Update Letter

Core Viewpoint - VERSES AI Inc. is focused on developing next-generation cognitive computing systems, emphasizing the unique approach of their technology compared to mainstream AI solutions, particularly in enterprise applications [2][3][4]. Company Overview - VERSES AI Inc. is a cognitive computing company that aims to create intelligent software systems inspired by nature, with their flagship product being Genius™, designed for reliable predictions and decisions under uncertainty [15]. Technology and Innovation - The company has introduced AXIOM, described as the world's first digital brain, which integrates modules for vision, memory, prediction, and reasoning, demonstrating higher reliability and efficiency compared to existing models [8]. - The approach of VERSES is based on the concept of active inference, which mimics human cognitive processes, allowing for real-world testing and adaptation of models [5][6][7]. Market Position and Adoption - Despite the rapid adoption of some AI technologies, enterprise AI adoption remains slow, attributed to the limitations of Large Language Models (LLMs) in performing reliable business tasks [3]. - The company has begun selling its product Genius™ to enterprise customers, with notable use cases in financial market modeling and fleet management optimization, indicating practical applications of their technology [11][12]. Recognition and Future Directions - VERSES has gained recognition in the media, with endorsements from industry experts highlighting the originality and potential impact of their approach on achieving Artificial General Intelligence (AGI) [13]. - The company is exploring robotics as an emerging frontier, showcasing early progress in enabling robots to perform complex tasks without prior training [14].