Have you come across chatGPT and are now bullish Artificial Intelligence (AI)? Want to invest early in this world changing technology? You came to the right place.

Back in early July, I wrote an article titled, “3 Canadian tech stocks to watch in 2022“. VERSES (VERS.NEO) was included in my list and what a performance for the stock! Since IPO’ing back on June 29th 2022, the stock has rallied just over 186% from its bottom to all time record highs. This was all during a time when major stock markets were mainly ranging.

The stock has pulled back, and a recent technical breakout has suggested the possibility of returning to test all time highs.

VERSES has the potential to be a real game changer. I have spoken with friends who work in the tech space and talk about how great AI is, especially with chatGPT. They get really excited when they look over VERSES’ value proposition.

With the global AI market projected to grow to USD $1.394 trillion by the end of the decade, VERSES offers Canadian investors an excellent way to reap the gains from this coming hot investment sector. With today’s AI custom built for narrow problem sets, dependent on large data sets, and costing millions to train and deploy. As I said, VERSES= game changer.

 

This company has created software that can globally interconnect any AI, human, machine or object and make any business, city or country run more securely and more efficiently on the spatial web, or in other words, the worldwide web of everything. Think of it as the Google for AI.

Not a hook enough for you? Chris Parry does a great job explaining the value here:

 

VERSES with its groundbreaking AI operating system platform, KOSM, is set to revolutionize such things as supply chain management by allowing managers to see and control all aspects of their supply chain seamlessly from a single dashboard. And then from here, think bigger in terms of cities and countries.

Our very own Kieran Robertson outlined the value proposition that VERSES brings, setting the stage for web 3.0:

“If Web 3.0 is like a slab of marble, then VERSES Technologies is the Sculptor”.

 

The KOSM operating system (OS) is VERSES flagship product. The world’s first AI operating system which allows anyone to build intelligent apps for anything. This AI will interact directly on your behalf in the physical world. Data can be measured and tracked, and more importantly utilized to anticipate future data leading to better efficiency and return on investments.

This mixing of reality leading to optimal results and a performance increase is best demonstrated with VERSES’ Wayfinder.

This video demonstrates the real world example of VERSES technology. Using advanced AI, visual navigation and audio cues within this spatial order picking software to increase productivity, reduce errors, and rapidly boost ROI’s.

 

VERSES is planning to launch KOSM globally in 2023. Investors can expect big things next year as the company prepares for the launch.

But forget about 2023 for a moment. VERSES has had a strong end to 2022 which provides a great foundation for 2023!

VERSES announced the successful completion of its first-of-a-kind autonomous drone or urban air mobility (UAM) test in Zaragoza, Spain.

This test was part of the Flying Forward 2020 project, a three-year collaborative research project, funded by the European Commission, that will develop a new Urban Air Mobility (UAM) ecosystem aligned with the Digital Government Transformation (DGT) of European countries, which focuses on incorporating UAM within the geospatial data infrastructure of cities. Essentially developing an ecosystem to help society fly forward in a safe, secure and effective way. This will ensure products across Europe are received and sent more faster and more efficiently.

Many people think drone delivery is a simple thing to do. Many forget that you need to factor in weather, electrical wires, telephone polls, airspace regulations and much more. VERSES spatial recognition technology in the KOSM operating system is critical for autonomous drone work. Spatial mapping of an entire city to the creation of flight plans and the governance of drones via geospatial contracts in real time. All possible due to the adaptive intelligence capabilities unique to the KOSM platform.

 

VERSES announced in late November 2022 that it was partnering 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 adaptive intelligence and Spatial Twin management applications are expected to be equipped and utilized with Blue Yonder’s global logistics customers. This will generate a real time world model to better simulate and orchestrate workflow optimization, verifiable traceability, and intelligent automation. To understand and see this technology at work, check out this quick 1 minute video from VERSES:

To put it simply: VERSES solutions potentially will aid in alleviating the global supply chain problems.

 

In early December, it was announced that Dr. Karl Friston, Professor of Neuroscience at University College London, Scientific Director of the Wellcome Trust Centre for Neuroimaging, and one of the world’s leading and most cited scientists in the study of the brain and mind, has joined the company as its Chief Scientist to direct and oversee the Company’s advanced AI research and development.

Friston is a world leading expert in the development and application of Active Influence, a method of design of intelligent systems using design principles from nature. This will be integral in ongoing research and development behind the next generation AI systems being developed by VERSES.

Dr. Friston was ranked the #1 most influential neuroscientist in the world by Semantic Scholar in 2016. He has had a decorative scientific career becoming a Fellow of the Royal Society in 2006 and The Royal Society of Biology in 2012, receiving the Weldon Memorial Prize and Medal in 2013, elected as a member of EMBO in 2014 and the Academia Europaea in 2015, and was a 2016 recipient of the Charles Branch Award for unparalleled breakthroughs in Brain Research and the Glass Brain Award from the Organization for Human Brain Mapping.

“It is with great enthusiasm and excitement that we welcome Karl Friston to VERSES as our Chief Scientist,” said Gabriel René, Founder, and CEO of VERSES. “Dr. Friston’s breakthrough work in neuroscience and biologically-inspired AI, known as Active Inference, aligns beautifully with our vision and mission to enable a “smarter world” where AI powers the applications of the 21st century. As the originator of this principle, it is only fitting that Karl has a significant role in VERSES AI research and development all the way through their applied uses in product commercialization.”

 

The most recent news announced was VERSES AI research group publishing  a landmark research white paper describing their approach to the design and development of the next gen AI known as Artificial General Intelligence (AGI). Intelligent agents with human-level intelligence that can learn, adapt and act in the world.

The title of the paper is, “Designing Ecosystems of Intelligence from First Principles,” and it proposes a vision and a roadmap for the future path of AI based on a field of research called Active Inference. VERSES KOSM, a network operating system for AI, uses Active Inference framework as the basis for its AI decision-making and planning capabilities.

Karl Friston pioneered the Active Inference approach which describes how biological intelligence observes the world, orients, and makes decisions about how to act based on sensory observations or data, all in real time in contrast to today’s AI known as Deep Learning which heavily relies upon massive historical data sets.

“Active Inference is a universal scheme for intelligent behavior. Operationally, Active Inference is a process of belief updating and propagation that has two aspects: inferring states of affairs in the world that generate data and inferring the best plans for actively acquiring more data,” said Friston.

VERSES CEO, Gabriel René, comments, “We are moving from the Information Age to the Intelligence Age, and this groundbreaking paper – the culmination of decades of advanced scientific research and development – describes, for the first time, a genuine path to achieving the ‘holy grail’ AGI not as a single algorithm but as an ecosystem of collective intelligence. This powerful science is the foundation of our KOSM platform.” Using Active Inference, KOSM enables the design and deployment of a new generation of intelligent agents capable of working together to provide unprecedented insights, recommendations, and autonomous capabilities to enhance any application across any industry. René continues, “VERSES mission is to enable a smarter world where the power to design and deploy AI is extended beyond those with big data to anyone with big ideas.”

Look at that chart.

Back in September 2022, I outlined that the stock broke down below a major support level. This was the $0.95 zone. I did tell investors that I expected the stock to drop to its next support level. Nothing to do with the fundamentals of the company, but due to a technical breakdown.

Technically, the stock has broken back above what was a previous resistance zone at $0.73. The original break occurred on November 22nd 2022 but momentum stalled at $0.85 and we did not hit our resistance zone at the $0.95 level.

It seems now the stock is ranging between our support zone at $0.73, and interim resistance at $0.85. On January 4th 2023, the stock rallied hard (20%) but failed to takeout $0.85. We can safely say $0.85 is a resistance zone to be aware of with the stock rejecting this zone 3 times. We now wait for a breakout.

It should finally be noted that the company is actually making some revenue. A small amount, but this is just the early stages. More often than not, tech companies are making no money yet trade at high prices. Future price earnings? I get it. But you must consider that many tech companies are not making revenue and depend on debt. Debt which is getting more expensive as interest rates rise.

If one considers the profits that VERSES will make down the road, current price levels seem like a bargain.

 

Full Disclosure: VERSES Technologies Inc. is a marketing client of Equity Guru.