Verses Technologies (VERS.NEO), a next-generation AI company providing foundational technology for the contextual computing era announced today the opening of its sensor fusion lab and research facility in Culver City, California. The facility is in the Hayden Tract district of Culver City, which is the home to many technology and creative companies including Apple, Amazon and multiple startups.
The new lab will showcase VERSES’ tech portfolio including COSM™, which is VERSES’ flagship AI operating system. VERSES development team will also have an immersive space to develop and launch solutions based on sensor fusion research techniques. Customers, partners, and investors can also experience VERSES’ various research including interaction with 3D digital twins, mixed-reality warehouse picking using Microsoft Hololens, and autonomous drone regulatory compliance solutions.
Curious about sensor fusion?
Sensor fusion is a popular technique in embedded systems where you combine data from different sensors to get a more encompassing or accurate view of the world around your device.
Sensor fusion brings the data from each of these sensor types together, using software algorithms to provide the most comprehensive, and therefore accurate, environmental model possible.
VERSES also provides a similar definition in their press release:
Sensor Fusion–the process of integrating multiple data sources from across various sensors to produce a more consistent, accurate, and useful understanding of objects and their environments–is key to enabling AI to better understand the context of a real-world environment and optimize its activities accordingly.
Sensor fusion has innumerable use cases spanning a broad array of industries, specifically sectors where inferences and decisions need to be made on the basis of real-time sensor data such as entertainment, security, warehouses, manufacturing and supply chains. Since sensor fusion is required in some form in all of these use cases, it is not only suitable, yet increasingly necessary for both technical and strategic applications of technology in the modern economy, reaching beyond smart cities, smart healthcare, aerial navigation and robotics, to core long-standing sectors of the world economy.
“Today, autonomous vehicles use sensor fusion in the form of radar, lidar, and cameras to model real-time scenes of their environment in order to safely navigate the streets around them ,” said Gabriel Rene, Founder and CEO of VERSES. “With our COSM operating system we can apply the same sensor fusion techniques and capabilities in areas such as warehouses, manufacturing plants, shipping ports, mines and retail environments to further enable automation and AI-driven applications.”
“The opportunity to collaborate with peers from the VERSES Sensor Fusion Research Facility and demonstrate how this technology is shaping the future of urban air mobility is, quite frankly, exhilarating,” said Stephen Lernout, Chief Strategy & Innovation Officer at Nalantis. “We are excited to continue working together as we advance our vision to become a leading natural language understanding company.”
The stock is currently down -2.27% on the day. Much of this can be attributed to global markets uncertainty heading into the Federal Reserve interest rate decision later today.
From a technical perspective, I laid out what I was seeing on the chart of one of hottest Canadian tech IPOs of 2022. All those levels still remain relevant. The major area was the $0.95 zone. The breakdown below confirmed a double top pattern which tends to be a reversal pattern. More downside can be expected from a technical perspective unless VERSES can reclaim and close above $0.95. This pullback however provides a great opportunity for an entry for those who want a long term investment in a company setting the stage for Web 3.0.
Full Disclosure: VERSES Technologies Inc. is a marketing client of Equity Guru.
