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Volvo Joins VERSES Genius™ Beta Program

Collaboration Centered on Assisted and Autonomous Driving Safety

Vancouver, BC – 21 December 2023 – (GLOBE NEWSWIRE) – VERSES AI Inc. (CBOE: VERS) (OTCQB:VRSSF) ("VERSES'' or the "Company”), a cognitive computing company specializing in next-generation intelligent software systems, announced that the Volvo Car Group has joined VERSES Genius™ Beta Program. 

The collaboration will entail Volvo testing Genius in applications related to advanced driver assistance and autonomous driving.  The goal is to create more intelligent decision-making systems and a safer environment for all drivers on the road.  The Company believes this strategic move underscores Volvo's proactive approach to testing and implementing innovative solutions with high impact potential on human and autonomous driving safety.

“We are extremely pleased to have Volvo join our Genius Beta Program.  We believe expanding our relationship to address the challenges related to assisted and autonomous driving safety will have the potential to demonstrate how the standards-based approach and cognitive computing capabilities built into Genius emphasize its relevance to worldwide companies like Volvo and society’s need for safer solutions.  Creating a safer world reflects the shared objectives of both companies.  We very much appreciate that this is a core attribute of Volvo’s business model, reputation and culture that we also embrace,” said Gabriel René, founder and CEO of VERSES.

Volvo has been engaged in developing spatial intelligence solutions and the joining Genius Beta Program aligns with Volvo's dedication to creating technologies that contribute to safer roads. The Company believes that Volvo reinforces its competitive position in automotive safety by actively engaging with solutions such as Genius and sets the stage for the future of intelligent and secure mobility.

VERSES is a cognitive computing company specializing in biologically inspired distributed intelligence. Our flagship offering, Genius™, is patterned after natural systems and neuroscience.  Genius™ can learn, adapt and interact with the world.  Key features of Genius™ include generalizability, predictive queries, real-time adaptation and an automated computing network. Built on open standards, Genius™ transforms disparate data into knowledge models that foster trustworthy collaboration between humans, machines and AI across digital and physical domains. Imagine a smarter world that elevates human potential through innovations inspired by nature. Learn more at VERSESLinkedIn, and X.

About Volvo  Car Group 
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker "VOLCAR B". 

"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040. 

As of December 2022, Volvo Cars employed approximately 43,200 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centers in Gothenburg and Shanghai (China). 

On behalf of the Company 
Eric Holder, Director of Communications, VERSES AI Inc.  

Investor Relations Inquiries
U.S. Matthew Selinger, Partner, Integrous Communications, 
Canada Leo Karabelas, President, Focus Communications, 

Forward Looking Information 

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, “forward-looking statements”). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the anticipated scope of the collaboration between the Company and Volvo, Volvo’s intended use and applications of GeniusTM, the impact that GeniusTM will have on Volvo’s applications related to advanced driver assistance and autonomous driving and that the GeniusTM Beta Program will align with Volvo's dedication to creating technologies that contribute to safer roads.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that Volvo will remain in the GeniusTM Beta Program; that the scope of the collaboration between Volvo and the Company will proceed as currently contemplated; that GeniusTM will support Volvo’s goals and objectives as currently anticipated; that GeniusTM will perform as currently anticipated; that Volvo will benefit from participating in the GeniusTM Beta Program as currently anticipated; that the GeniusTM Beta Program will align with Volvo’s dedication to creating technologies that contribute to safer roads; that the Company will be successful in the deployment of its resources and personnel; that results of testing and development data will be consistent with anticipated results and estimates; that the Company will not come across technology or other barriers preventing it from achieving its business objectives and commercializing its technology; and that the Company’s technology will impact the AI market and the Company’s success in the AI market as anticipated.  

Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the risk that Volvo’s objectives and directives and the Company’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations including, with respect to the Company, the ability of the Company to develop and commercialize its products and release and deploy its technologies; risks relating to political instability; risks relating to unexpected development and production challenges; the risk that the Company could face technology or software disruptions or unanticipated costs; risks that the Company’s technology may fail to perform as expected; risks relating to increased competition; risks that the goals of Volvo will change or not be reached, or that additional unanticipated technical specifications will be required to achieve the goals of Volvo; the risk that GeniusTM will not perform as anticipated or provide the expected impact on the achievement of Volvo’s goals; and risks relating to the loss of key personnel. The forward-looking statements contained in this press release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.