The artificial intelligence story still has legs, says analysts at Citi. In fact, as noted by Bloomberg, “The roaring rally in tech stocks has further to go, as the buzz around artificial intelligence and hopes for a pause in the Federal Reserve’s rate hikes give them an edge, according to Citigroup Inc. quantitative strategists. The growth style investing factor in the US has by far been the most successful with a nearly 20% jump this year, as AI-driven gains boosted Nvidia Corp. to a $1 trillion market value and drove a record outperformance of tech stocks against non-tech S&P 500 companies.” That’s been significant news for companies, such as VERSES AI Inc. (CBOE: VERS) (OTCQX: VRSSF), C3.AI Inc. (NYSE: AI), Nvidia Corp. (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), and Advanced Micro Devices (NASDAQ: AMD). Even better, the artificial intelligence story, fueling the tech rally is far from over. As AI revolutionizes just about every industry out there, it could create a $1.81 trillion opportunity, says Grand View Research.
Look at VERSES Technologies Inc. (CBOE: VERS) (OTCQX: VRSSF), For Example
VERSES AI Inc., a cognitive computing company specializing in the next generation of artificial intelligence, announces the publication of a landmark research paper, "Designing Explainable Artificial Intelligence with Active Inference: A framework for interpretability based on the study of introspection and decision-making." The paper articulates methods for developing human-interpretable, explainable artificial intelligence (XAI) systems based on active inference and the Free Energy Principle, which offers new possibilities for transparency and understanding of AI processing.
VERSES’ research has emerged at a pivotal moment for the AI Industry, coinciding with the recent calls for greater AI explainability by the G7 Digital Ministers and new legislative proposal by the EU in the AI Act that targets Large Language Models (LLMS), like those employed by prominent organizations such as OpenAI, Google (NASDAQ: GOOGL), Microsoft (NASDAQ: MSFT), and Meta (NASDAQ: META) for their lack of explainability. The study could have far-reaching implications for how future AI systems are designed, implemented to be more easily understood and regulated.
"Our research demonstrates the exciting potential of active inference for designing AI systems that are both capable of making complex decisions and explaining their reasoning in a way that humans can understand. This represents a significant step forward in building trust and accountability in AI,” said Mahault Albarracin, Director of Product at VERSES and lead author of the research paper.
The groundbreaking research proposes a unique AI architecture based on the active inference framework and the Free Energy Principle. These scientific principles can be used to create an AI that can explain its decision-making process in human-understandable terms - a significant advancement in the era of 'Explainable AI.'
A collaboration between researchers from VERSES, the Wellcome Centre for Human Neuroimaging at University College London, the Departments of Cognitive Computing and Philosophy at the Université du Québec à Montréal, and the Berlin School of Mind & Brain at Humboldt-Universität zu Berlin, the paper provides a compelling overview of active inference for modeling decision-making with human-like introspection.
The authors contend that their proposed architecture will enable AI systems to track and explain factors contributing to their decisions that can be further scaled up utilizing open standards for knowledge modeling like those being developed by the IEEE Spatial Web Working Group and are intended to be demonstrable in VERSES KOSM OS and GIA products scheduled for release later this year. This new approach to AI transparency aligns with growing demands from regulators, policymakers, and human interest groups for AI systems to be more interpretable and auditable by users.
"The ability for AI to explain its decision-making process is crucial for building trust and understanding amongst end users," said Maxwell Ramstead, VERSES Director of Research. "Our proposed framework takes an important step in this direction, potentially revolutionizing how we view and interact with AI."
In response to growing global concerns about the risks and safety around artificial intelligence, this breakthrough research paper is set to be showcased at the upcoming Active Inference conference in Belgium next month.
Other related developments from around the markets include:
C3.AI Inc. announced preliminary results for its fourth fiscal quarter and fiscal year ended April 30, 2023. All numbers reported are unaudited preliminary estimates. Completed financial results, fiscal 2024 guidance, KPIs, and additional details will be provided on May 31, 2023. “As we began the fiscal year on May 1, the company has never been better positioned,” said Thomas M. Siebel, C3 AI CEO. “I believe we now have broad consensus that the addressable market for Enterprise AI is extraordinarily large; we have nearly 1,000 talented, dedicated employees; the C3 AI Platform is increasingly recognized as the gold-standard in enterprise AI; we have over 40 production enterprise AI applications that offer the market rapid time to value; our C3 Generative AI offerings are being enthusiastically received; our growing market-partner ecosystem enables us to punch above our weight; and with our tried, tested, and proven management team, our august and distinguished board of directors, our strong work ethic, and armed with over $800 million in cash – we are well positioned to accelerate growth, gain market share, attain sustainable non-GAAP profitability, and establish a market-leading position globally in enterprise AI. FY 2024 will be exciting.”
Nvidia reported revenue for the first quarter ended April 30, 2023, of $7.19 billion, down 13% from a year ago and up 19% from the previous quarter. GAAP earnings per diluted share for the quarter were $0.82, up 28% from a year ago and up 44% from the previous quarter. Non-GAAP earnings per diluted share were $1.09, down 20% from a year ago and up 24% from the previous quarter. “The computer industry is going through two simultaneous transitions — accelerated computing and generative AI,” said Jensen Huang, founder and CEO of NVIDIA. “A trillion dollars of installed global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI into every product, service and business process. “Our entire data center family of products — H100, Grace CPU, Grace Hopper Superchip, NVLink, Quantum 400 InfiniBand and BlueField-3 DPU — is in production. We are significantly increasing our supply to meet surging demand for them,” he said. During the first quarter of fiscal 2024, NVIDIA returned to shareholders $99 million in cash dividends. NVIDIA will pay its next quarterly cash dividend of $0.04 per share on June 30, 2023, to all shareholders of record on June 8, 2023.
Microsoft announced a new suite of new AI solutions and improvements to Microsoft Cloud for Nonprofit that are designed to transform the nonprofit industry and how fundraisers engage with donors, manage campaigns and optimize operations. In addition, the company announced a limited private preview for nonprofits to experience a new AI-powered fundraising propensity model. Within the preview, participating nonprofits will be able to test new AI tools that give fundraisers the power to do predictive forecasting of fundraising goals with data modeling and identify donors most likely to donate to a campaign, cause or major gift. “Simply put, AI can and will be a game-changer for nonprofits and fundraisers,” said Justin Spelhaug, Vice President and Global Head, Tech for Social Impact at Microsoft. “With these new AI solutions, we aim to empower nonprofits and fundraisers to achieve more and to create a more positive and rewarding experience for donors.”
Advanced Micro Devices announced the AMD Radeon RX 7600 graphics card, optimized to provide next-generation, high-performance 1080p gaming, streaming and content creation with stunning visual fidelity. The AMD Radeon RX 7600 graphics card is built on the groundbreaking AMD RDNA 3 architecture, featuring redesigned compute units with unified raytracing and AI accelerators and second-generation AMD Infinity Cache technology. Designed to deliver incredible 1080p gaming experiences, the Radeon RX 7600 graphics card provides an ideal upgrade for legions of gamers.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for VERSES AI Inc. by VERSES AI Inc. We own ZERO shares of VERSES AI Inc. Please click here for disclaimer.
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