VERSES and NASA Partner to Pursue Standards for Space Industry
VANCOUVER, British Columbia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- VERSES AI Inc. (NEO::VERS) (OTCQX:VRSSF) ("VERSES'' or the "Company”), a cognitive computing company specializing in next-generation intelligent software systems, welcomes National Aeronautics and Space Administration’s (NASA) Jet Propulsion Laboratory (JPL) to the Beta program of its Intelligence-as-a-Service platform, Genius™.
NASA seeks to advance international and interagency collaboration on space exploration efforts through technology and policy standards. NASA, JPL and many other stakeholders in the new “space race” have a vested interest in standardizing infrastructure and supporting the space economy, which Morgan Stanley estimates may grow to $1 Trillion by 2040.
The international space agency community is actively seeking to develop standards for space exploration. For example, many countries have recently announced their intention to return to the moon. To ensure safety and collaboration, in 2020, NASA published the Artemis Accords, a non-binding multilateral arrangement between thirty-two world governments and one territory participating in NASA’s Artemis space program, which aims to. return humans to the moon by 2025, establish a permanent presence on the moon, and ultimately expand space exploration to Mars and beyond. The Accords set out to define space rules and laws governing various activities, from exploiting natural resources on the moon, comets and asteroids to governments' ability to protect access to lunar bases or mining zones. PWC estimates that the lunar economy will reach $170B by 2040. In addition to governance considerations, many technical specifications must be developed, including power distribution, communications, positioning, navigation and timing, lunar surface surveying, lunar satellite networks for guidance and communications, and cislunar space traffic control. Interoperability is central to the success of the global space economy.
“Interoperability of systems is critical to ensure safe and robust space exploration. Therefore, the Artemis Accords call for partner nations to utilize open international standards, develop new standards when necessary, and strive to support interoperability to the greatest extent practical,” says NASA.
“We believe that interoperability, knowledge sharing, transparency and accountability are prerequisites for collaboration in space and is precisely the kind of application that Genius is uniquely designed to enable,” said VERSES CTO, Jason Fox. Genius is built on the open standards designed by the Spatial Web Foundation being developed within the IEEE P2874 Spatial Web, Architecture and Governance Working Group. IEEE (Institute of Electrical and Electronics Engineers) is the world’s largest standards development organization (SDO) and works with many other SDOs and government agencies involved in space exploration. The standards have been successfully deployed in Flying Forward 2020, a European Commission program chartered with defining governance systems for autonomous drones across five European cities.
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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 JPL’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; political instability; unexpected development and production challenges; the Company could face technology or software disruptions; unanticipated costs; the Company’s technology may fail to perform as expected; increased competition; that Morgan Stanley’s estimate of the potential value and size of the space economy will prove to be inaccurate; that the goals of the Artemis Accords will change or not be reached, or that additional unanticipated technical specifications will be required to achieve the goals of the Artemis Accords; that the Johns Hopkins Applied Physics Laboratory will not have the expected involvement with the DARPA initiatives as outlined herein; that the GeniusTM beta program will not represent a step towards standardizing knowledge sharing and collective intelligence; that GeniusTM will not perform as anticipated or provide the expected impact on the space industry or on the achievement of JPL’s goals; the loss of key personnel; and the loss of key partnerships necessary for the Company to achieve its business objectives. 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.