Verses AI adds milestone payments to consulting deal

Executive Summary

• Verses AI Inc. has expanded its commercial relationship with a major global investment firm by extending an existing consulting arrangement.
• The expansion involves additional milestone-based payments and introduces provisions for future outcome-based pricing.
• The collaboration focuses on developing an active inference causal model for financial markets to optimize asset allocation, leveraging Verses' "Genius" platform to improve metrics such as drawdown and volatility.

Key Details

• Parties Involved: Verses AI Inc. and a major global investment firm (described as one of the world's largest financial institutions).
• Contract Structure:
  • Initial period of fixed milestone-based payments.
  • Provisions for outcome-based pricing in the future.
• Technical Scope:
  • Development of an active inference causal model of financial markets.
  • Goal: Make improved asset allocation decisions.
  • Platform Utilization: Leveraging "Genius" enterprise capabilities for efficient data ingestion, preparation, model creation, and deployment.
  • Target Metrics: Improvement in financial metrics including drawdown and volatility.
• Strategic Intent: To assist in building solutions using the Genius platform and drive greater business value for the client.

Notable Quotes

• "We're thrilled about the opportunity to collaborate, build solutions and drive even greater business value with one of the world's largest financial institutions," — Michael Wadden, Verses chief commercial officer.