Verses AI Enters Multi-Year Deal With Leading US Pharmacy Retailer

FULL DISCLOSURE: This is sponsored content for Verses AI.

Verses AI (NEO: VERS) is reporting this morning that it has been contracted to assist in the digital transformation efforts of a leading nation US pharmacy retailer.

The collaboration is said to be a multi-year deal, with the focus of enhancing the retailers operational intelligence as well as the efficiency of newly designed and existing distribution centres. The changes implemented by Verses is expected to progress to a national rollout for the retailer.

The effort will see Verses map the retailers enterprise data into a unified knowledge model through the use of KOSM and Wayfinder to assist in streamline decision-making in areas such as resourcing, purchasing, sequencing, routing, and the inbound and outbound flow of products. SimWell meanwhile will serve as the integration consultant for the tech.

“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,” commented CEO Gabriel Rene.

Further details of the transaction were not made public at this time.

The transaction follows Verses in July being selected for involvement in the EU Commission’s dAIEDGE project, which is focused on bringing together edge computing and artificial intelligence to enable devices to make decisions within milliseconds, while processing data at the point of origin.

Verses AI last traded at $1.25 on the Neo.

FULL DISCLOSURE: VERSES Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Verses Technologies. The author has been compensated to cover VERSES Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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