The Dawn of a New AI Era
In 2023, the realm of Artificial Intelligence (AI) rose to prominence, becoming the central narrative in the world of financial markets. The year marked a significant transition for AI, evolving from an emerging technology into the fastest-growing software segment in history.
The market’s expansion and its potential impact on the economy are nothing short of extraordinary. Industry forecasts suggest an increase in the AI market from $207 billion in 2023 to a remarkable $2 trillion by the decade’s end. Furthermore, according to McKinsey & Company, AI is anticipated to potentially catalyze a $25 trillion surge in global GDP, potentially enhancing productivity across various sectors and contributing to a 30% boost in the global economy.
AI’s ubiquity is undeniable in today’s landscape, with rapid growth and notable valuations observed across numerous AI firms. A prime example of this trend is OpenAI, the organization behind the popular ChatGPT. Since its launch in November 2022, ChatGPT has garnered over 100 million users in merely two months, positioning OpenAI’s revenue on a trajectory to soar from $22 million in 2022 to an estimated $1 billion by 2024.
However, a critical issue arises with this remarkable growth: OpenAI, like many next-generation AI startups, is privately funded. This aspect presents a challenge for individual investors seeking to directly engage with this megatrend.
VERSES AI’s Strategic Challenge to OpenAI: Pioneering a New Path to AGI
In an echo of Steve Jobs’ audacious challenge to IBM, VERSES AI has boldly called out OpenAI with a full-page ad in the New York Times. This move by VERSES AI (NEO: VERS), a public company with a $150M market cap, exudes confidence and signifies a strategic shift in the AI industry. The ad, framed as an open letter dated December 19th, 2023, directly addresses OpenAI’s Board of Directors, challenging the current trajectory towards Artificial General Intelligence (AGI).
Highlighting OpenAI CEO Sam Altman’s own admission at the Hawking Fellowship Award event, the letter critically questions the effectiveness of Large Language Models (LLM) in achieving AGI. Altman’s assertion that “another breakthrough” is necessary aligns with VERSES AI’s call for collaboration, based on OpenAI’s charter to assist projects that are closely aligned with their goals and values.
VERSES AI sponsored billboard outside of OpenAI’s head office:
VERSES AI introduces its innovative approach, Active Inference, as a potential game-changer in the quest for AGI. This approach, distinct from the prevalent deep learning models, is inspired by nature’s blueprint for intelligence. It links cognition and physical processes across scales and is based on the Free Energy Principle.
Active Inference Agents, developed by VERSES AI, mark a departure from conventional AI models. They are designed to be adaptive, specialized, and transparent, embodying collective intelligence similar to natural systems. These agents promise a more efficient path towards AGI, using significantly less data and optimized for energy efficiency.
VERSES AI’s breakthrough in Active Inference suggests a potentially faster and more efficient route to AGI, indicating a promising alternative to current AI methodologies. The company invites OpenAI for collaboration, proposing a joint effort to develop safer and more effective AI systems.
VERSES AI: Small Company, Big Impact – Pioneering AI with NASA, Volvo, and Neuroscientific Expertise
VERSES AI, though a smaller company in the AI landscape with a market cap of $150M, stands as a credible and innovative contender, primarily due to its strategic partnerships and the expertise of its chief scientist. The following points elucidate why VERSES AI, despite its size, is a significant player in the AI field:
NASA’s Partnership with VERSES AI: NASA’s Jet Propulsion Laboratory (JPL) has joined the Beta program of VERSES AI’s Intelligence-as-a-Service platform, Genius™. This collaboration aims to advance international and interagency collaboration on space exploration through technology and policy standards. NASA and JPL’s interest in Genius™ underscores the platform’s potential in standardizing infrastructure and supporting the space economy, projected to grow to $1 trillion by 2040. Genius™, built on the open standards designed by the Spatial Web Foundation, is being developed within the IEEE P2874 Spatial Web, Architecture and Governance Working Group, indicating its alignment with global standards crucial for space exploration and interoperability.
Collaboration with Volvo: Volvo Car Group’s participation in the VERSES Genius™ Beta Program highlights VERSES AI’s relevance in cutting-edge industries like automotive safety. This collaboration focuses on testing Genius™ in advanced driver assistance and autonomous driving applications, aiming to create more intelligent decision-making systems and enhance road safety. Volvo’s engagement with Genius™ reflects the platform’s potential to contribute significantly to the evolution of intelligent and secure mobility, further establishing VERSES AI’s credibility in the market.
Leadership by Dr. Karl Friston: Dr. Karl Friston, a renowned neuroscientist and authority on brain imaging, joined VERSES AI as its Chief Scientist. Dr. Friston, known for his work in computational neuroscience and artificial intelligence, brings a wealth of expertise to the company. His role in developing and applying Active Inference, an approach that uses design principles from nature for intelligent systems, is central to VERSES AI’s R&D. Friston’s distinguished career, including being ranked as the #1 most influential neuroscientist in the world by Semantic Scholar in 2016, adds significant credibility to VERSES AI’s research and development efforts.
These factors collectively demonstrate VERSES AI’s potential as a transformative force in AI. Despite its relatively small size, the company’s strategic partnerships with industry leaders like NASA and Volvo, coupled with the expertise of Dr. Karl Friston, position it as a credible and innovative player in the rapidly evolving AI market. This combination of high-profile collaborations and scientific leadership underlines VERSES AI’s unique approach and its capability to make significant breakthroughs in AI technology.
Rethinking AI: VERSES AI’s Nature-Inspired Shift Towards True Intelligence
The Limitations of Current AI Models
Today’s leading AI systems represent what is often termed “narrow” intelligence. They are typically designed for specific, singular purposes and adhere to the principle that ‘bigger is better.’ This approach, focused on scaling up with more data and faster processing, leads to the creation of sophisticated yet inflexible “black box” systems.
These models, despite their complexity, struggle with adaptability and real-time learning, lacking the ability to explain their decision-making processes. They are limited in their utility for real-world applications due to their inability to grasp and articulate the complexities of the physical world.
VERSES AI’s Transformative Approach
Diverging from conventional models, VERSES AI pioneers a fundamentally different path in Artificial General Intelligence (AGI) development. Eschewing the typical ‘scale up’ approach, VERSES AI is inspired by nature’s blueprint, embracing a methodology known as Natural Computing. This approach goes beyond mere mimicry of natural processes; it aims to deeply understand and implement the fundamental computational mechanisms found in nature. By aligning with the principles of biological processes, VERSES AI is creating General Intelligent Agents (GIAs) that are inherently adaptive, resilient, and efficient.
Envisioning an Intelligent Ecosystem
VERSES AI’s ultimate goal is to cultivate an intelligent ecosystem, a network of AI agents that not only comprehend the intricacies of the natural world but are also interlinked. These agents are designed to share knowledge and collaborate in decision-making, reflecting the balance and efficiency observed in nature. Unlike isolated AI models, VERSES AI’s network is built for understanding and engaging with the natural world’s complexity, offering interoperability and transparency that are currently lacking in AI systems.
Energy Efficiency and Edge Computing
These Active Inference agents are optimized for energy efficiency, making them particularly suitable for intelligent computing on the edge, not just in cloud environments. This feature is crucial for applications that require rapid, real-time processing and decision-making without relying on large, centralized data centers.
Introducing Genius™: A Groundbreaking Platform
VERSES AI has recently amalgamated its underlying product capabilities into a unified platform called Genius™, combining its previously separate operating system (KOSM) and GIA Intelligent Agent. Genius™ is an intelligent software system that revolutionizes how we interact with and process information. It eschews the rigid rules of traditional computer programs and the limitations of current AI systems in favor of a more flexible, intelligent approach. Genius™ harnesses the power of natural algorithms, knowledge modeling, and data transformation to emulate the human brain’s ability to process both structured and unstructured data and transform it into usable knowledge.
Genius™ stands out with its capability to continuously learn and improve over time, much like human learning from experiences. It excels in problem-solving, uncovering insights, and offering recommendations based on historical data and real-time context. Genius™, therefore, represents not just an AI system but an agent-based knowledge exchange system, complete with advanced adaptability, swarm intelligence, and robust data privacy and security measures.
In a world and market eagerly anticipating the realization of AGI, Genius™ distinguishes itself as not just another AI tool, but as a digital implementation of our intelligent world. With Genius™, VERSES AI is developing a new era of smart computing that truly reflects the genius inherent in nature’s design.
VERSES AI: A Key Player in the AI Market’s Rapid Expansion
As the artificial intelligence (AI) market experiences significant growth, projected to increase from $207 billion in 2023 to approximately $2 trillion by the end of the decade, VERSES AI (NEO: VERS) represents an emerging entity within this expanding field. This growth trajectory underscores the dynamic and rapidly evolving nature of the AI industry.
In contrast to many next-generation AI startups that are typically inaccessible for direct public investment, VERSES AI offers a more accessible avenue for investment.
Furthermore, VERSES AI is actively working on AI technology that aims to emulate human-like learning and adaptability. This focus on overcoming the limitations of conventional narrow AI intelligence highlights the company’s commitment to innovation and advancement in the field of AI. The development of such technologies is indicative of the company’s approach to addressing current challenges in AI and contributing to the broader evolution of the industry.
Check out VERSES’ 2023 Year in AI Review Below:
As VERSES AI continues to break new ground in AI technology, shaping the future of intelligent computing, it stands at the forefront of an AI revolution. Discover how VERSES AI is not just following trends, but setting them, and explore what this means for the future of AI and our place in it.
Bill McClain – Editor of The Momentum Letter
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I would love to find out more about AI
AI is Big…AI is getting BIGGer…AI is gonna be the BIGGEST force on Earth…ever!!