VERSES® Partners with Top Australian Telecom for Genius™ Beta
VERSES AI has announced a partnership with a leading Australian telecommunications company for its Genius beta program, focusing on combating telecom fraud and illegal service usage. The initiative addresses a significant industry challenge, with TransUnion reporting $38.95 Billion lost to telecom fraud in 2023. According to The Global Leaders' Forum, 64% of carriers identify fraudulent traffic as a top priority.
The project will leverage Genius Agents' capabilities to model complex dynamic systems, quantify uncertainty, and make increasingly accurate predictions to combat fraudulent access and hijacked accounts. The company's Chief Commercial Officer, Michael Wadden, highlighted that Genius' ability to reason, predict, and act addresses real-world problems that current LLMs struggle to solve reliably.
VERSES AI ha annunciato una partnership con una delle principali aziende di telecomunicazioni australiane per il suo programma beta Genius, focalizzandosi sulla lotta contro la frode telecom e l'uso illegale dei servizi. L'iniziativa affronta una sfida significativa per il settore, con TransUnion che riporta 38,95 miliardi di dollari persi a causa della frode telecom nel 2023. Secondo il Global Leaders' Forum, il 64% dei carrier identifica il traffico fraudolento come una delle massime priorità.
Il progetto sfrutterà le capacità dei Genius Agents per modellare sistemi dinamici complessi, quantificare l'incertezza e fare previsioni sempre più accurate per combattere l'accesso fraudolento e gli account sequestrati. Il Chief Commercial Officer dell'azienda, Michael Wadden, ha enfatizzato che la capacità di Genius di ragionare, prevedere e agire affronta problemi reali che gli attuali LLM faticano a risolvere in modo affidabile.
VERSES AI ha anunciado una asociación con una de las principales empresas de telecomunicaciones de Australia para su programa beta Genius, centrado en combatir el fraude en telecomunicaciones y el uso ilegal de los servicios. La iniciativa aborda un desafío significativo en la industria, con TransUnion reportando 38.95 mil millones de dólares perdidos en fraudes de telecomunicaciones en 2023. Según el Global Leaders' Forum, el 64% de los operadores identifica el tráfico fraudulento como una de las principales prioridades.
El proyecto aprovechará las capacidades de los Genius Agents para modelar sistemas dinámicos complejos, cuantificar la incertidumbre y hacer predicciones cada vez más precisas para combatir el acceso fraudulento y las cuentas secuestradas. El Director Comercial de la empresa, Michael Wadden, destacó que la capacidad de Genius para razonar, predecir y actuar aborda problemas reales que los LLM actuales tienen dificultades para resolver de manera confiable.
VERSES AI는 호주 최고의 통신사와 Genius 베타 프로그램 파트너십을 발표하며 통신 사기와 불법 서비스 사용에 대항하기 위한 집중적인 노력을 기울이고 있습니다. 이 이니셔티브는 업계의 중요한 도전 과제를 다루고 있으며, TransUnion은 2023년에 통신 사기로 389억 5천만 달러가 손실되었다고 보고했습니다. Global Leaders' Forum에 따르면, 64%의 통신사는 사기 트래픽을 최우선 해결 과제로 보고합니다.
이 프로젝트는 Genius Agents의 역량을 활용하여 복잡한 동적 시스템을 모델링하고, 불확실성을 정량화하며, 사기 접근 및 해킹된 계정을 방지하기 위한 점점 더 정확한 예측을 수행합니다. 회사의 최고 상업 책임자 Michael Wadden은 Genius가 추론하고 예측하며 행동하는 능력이 현재 LLM이 신뢰할 수 있게 해결하기 어려운 실제 문제를 해결한다고 강조했습니다.
VERSES AI a annoncé un partenariat avec une entreprise de télécommunications australienne de premier plan pour son programme bêta Genius, axé sur la lutte contre la fraude télécom et l'utilisation illégale des services. L'initiative s'attaque à un défi majeur pour le secteur, avec TransUnion rapportant 38,95 milliards de dollars perdus à cause de la fraude télécom en 2023. Selon le Global Leaders' Forum, 64 % des opérateurs identifient le trafic frauduleux comme une priorité absolue.
Le projet tirera parti des capacités des Genius Agents pour modéliser des systèmes dynamiques complexes, quantifier l'incertitude et faire des prévisions de plus en plus précises afin de lutter contre l'accès frauduleux et les comptes piratés. Le directeur commercial de l'entreprise, Michael Wadden, a souligné que la capacité de Genius à raisonner, prévoir et agir répond à des problèmes réels que les modèles de langage actuels peinent à résoudre de manière fiable.
VERSES AI hat eine Partnerschaft mit einem führenden australischen Telekommunikationsunternehmen für sein Genius Beta-Programm angekündigt, das sich auf die Bekämpfung von Telekommunikationsbetrug und illegaler Nutzung von Dienstleistungen konzentriert. Die Initiative geht eine bedeutende Herausforderung der Branche an, wobei TransUnion berichtet, dass 2023 38,95 Milliarden Dollar durch Telekommunikationsbetrug verloren gingen. Laut Forum der Globalen Führer identifizieren 64% der Carrier betrügerischen Datenverkehr als höchste Priorität.
Das Projekt wird die Fähigkeiten von Genius Agents nutzen, um komplexe dynamische Systeme zu modellieren, Unsicherheiten zu quantifizieren und zunehmend präzisere Vorhersagen zur Bekämpfung von betrügerischem Zugriff und gekaperten Konten zu treffen. Der Chief Commercial Officer des Unternehmens, Michael Wadden, hob hervor, dass die Fähigkeit von Genius, zu denken, vorherzusagen und zu handeln, reale Probleme anspricht, mit denen aktuelle LLMs Schwierigkeiten haben, zuverlässig umzugehen.
- Partnership with major Australian telecom company for Genius beta program
- Addressing a $38.95B market opportunity in telecom fraud prevention
- Solution targets a critical industry problem acknowledged by 64% of carriers
- None.
Initial Project to Focus on Fraud Prevention
VANCOUVER, British Columbia, Jan. 27, 2025 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSF) ("VERSES'' or the "Company”), a cognitive computing company specializing in next generation intelligent systems, announces that a leading Australian telecommunications company has joined the Genius beta program to focus on one of the largest issues plaguing their industry globally: fraudulent or illegal use of telecommunications services.
According to credit reporting agency, TransUnion, in 2023
The telecom provider is eager to implement Genius Agents given their unique ability to model complex dynamic systems, quantify uncertainty, and continuously learn how to make increasingly more accurate predictions.
“VERSES is attracting more large-scale opportunities at an enterprise level where the organization is excited about the capabilities and prospects that Genius provides,” said Michael Wadden, VERSES Chief Commercial Officer. “Genius’ unique ability to continuously reason, predict and act addresses a category of real-world problems that the latest LLMs like OpenAI’s o1 or Deepseek’s R1 still struggle to reliably solve. In this scenario potentially mitigating fraud at scale would create exceptional value for the provider.”
About VERSES
VERSES is a cognitive computing company building next-generation intelligent software systems modeled after the wisdom and genius of Nature. Designed around first principles found in science, physics and biology, our flagship product, Genius, is a suite of tools for machine learning practitioners to model complex dynamic systems and generate autonomous intelligent agents that continuously reason, plan, and learn. Imagine a Smarter World that elevates human potential through technology inspired by Nature. Learn more at verses.ai, LinkedIn, and X.
On behalf of the Company
Gabriel René, Founder & CEO, VERSES AI Inc.
Press Inquiries: press@verses.ai
Investor Relations Inquiries
U.S., Matthew Selinger, Partner, Integrous Communications, mselinger@integcom.us 415-572-8152
Canada, Leo Karabelas, President, Focus Communications, info@fcir.ca 416-543-3120
Cautionary Note Regarding Forward-Looking Statements
When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although VERSES believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this press release include, among other things, statements regarding the potential of Genius to mitigate fraud for telecom companies and the potential to attract more large-scale opportunities.
There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. In making the forward-looking statements in this news release, the Company has applied various material assumptions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause VERSES' actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors may include, among other things, the ability of the Company to use Genius to mitigate fraud for telecom companies and the ability of the company to identify more large-scale opportunities. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable).
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 the Company will be unsuccessful in finding more large-scale opportunities and that Genius may not be successful in mitigating fraud for telecom companies. VERSES cautions that the foregoing list of material factors is not exhaustive. When relying on VERSES’ forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. VERSES has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of VERSES as of the date of this press release and, accordingly, are subject to change after such date. VERSES does not undertake to update this information at any particular time except as required in accordance with applicable laws.
FAQ
What is the value of telecom fraud losses that VRSSF's Genius program aims to address?
How many carriers identify fraudulent traffic as a top priority for VRSSF's solution?
What specific problem will VRSSF's Genius beta program address for the Australian telecom partner?
How does VRSSF's Genius technology differ from current LLM solutions?
