Thursday, September 7, 2023

Los Angeles based VERSES AI Inc. (NEO:VERS) (OTCQX:VRSSF) announced that it has been contracted to amplify the digital transformation efforts of a leading national US pharmacy retailer. This multi-year collaboration aims to enhance the US pharmacy retailer’s operational intelligence and the efficiency of its existing and newly designed distribution centers. It is expected to progress to a nationwide rollout.

According to the release, warehouses are complex systems with many still relying on a multitude of legacy software and processes that can lead to limitations including accuracy, flexibility, congestion, and risk. VERSES will address these challenges by mapping the US pharmacy retailer’s enterprise data into a unified knowledge model, powered by its intelligence platform, KOSM™ and its WayFinder™ services that will run simulations in order to more accurately predict and streamline decision-making around purchasing, resourcing, sequencing, routing, and inbound and outbound flow of products.

Gabriel René, CEO and Founder of VERSES, shared his enthusiasm for the collaboration, stating, “While we’re unable to disclose specific terms of the contract at this time, it is significantly revenue bearing, and more importantly, it serves as a powerful signal that VERSES has arrived at the point where we are a preferred technology provider for a Top 10 Fortune 100 enterprise entrusted with deploying impactful optimization solutions at scale.”

VERSES is a cognitive computing company specializing in next-generation Artificial Intelligence.

Shares are currently trading unchanged at 90 cents