According to TransUnion, $38.95 billion was lost to telecom fraud in 2023, and a report by The Global Leaders’ Forum indicates that 64% of carriers prioritize addressing fraudulent traffic. VERSES' Genius technology offers a unique approach to continuously reason, predict, and act, addressing real-world problems where traditional large language models may struggle. The company sees this partnership as an opportunity to demonstrate the value of Genius in creating solutions for large-scale challenges in the telecom sector.
Key takeaways:
- VERSES AI Inc. has partnered with a leading Australian telecommunications company to join the Genius beta program, focusing on fraud prevention in the telecom industry.
- Telecom fraud is a significant issue, with $38.95 billion lost in 2023, and 64% of carriers identifying fraudulent traffic as a top priority.
- The Genius program aims to mitigate fraud by using intelligent agents that model complex systems, quantify uncertainty, and improve prediction accuracy.
- VERSES is expanding its enterprise-level opportunities, with Genius offering solutions to real-world problems that other large language models struggle to address.