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- YPB Group (YPB) lands a 10-year licence with NVISO SA of Switzerland to develop applications to determine the authenticity of video and media
- The company penned the contract with NVISO to allow YPB to extend its core technology in a bid for the tech to become more broadly available
- The company’s development timetable is roughly three months, with an estimated external contractor cost of approximately $140,000 in addition to the use of YPB’s internal development team
- YPB has proposed a capital raising via a placement to raise $2 million to pay off debts owed to NVISO under the licence agreement, development costs and marketing
- YPB shares were last trading at 0.5 cents
YPB Group (YPB) has signed a 10-year licence with NVISO SA of Switzerland to develop applications to determine the authenticity of video and media.
The company penned the contract with NVISO to allow YPB to extend its core technology.
NVISO’s artificial intelligence (AI) applications detect human behaviour and have been deployed to work with next-generation human-machine interfaces such as autonomous vehicles and companion robots.
YPB said the release of ChatGPT and competing AI platforms will make the creation of fake videos and media an increasing issue. As such, the applications YPB will jointly develop with NVISO will allow media created with AI to be identified, measured and commented upon to assist with authenticating content.
YPB will also use NVISO technology to “enhance and deepen” the accuracy of its MotifMicro product authentication solution.
YPB’s objective is for its AI-detection solutions to be marketed and distributed online and be widely available to all.
The company’s development timetable is roughly three months, with an estimated external contractor cost of approximately $140,000 in addition to the use of YPB’s internal development team.
“We are excited to leverage the proven power of NVISO to rapidly extend our existing digital authentication capabilities into an expanding space,” YPB Executive Chairman and Group CEO John Houston said.
“We believe that the recent developments in the world of AI offer a myriad of opportunities, and the need for authentication offers potential to YPB and our shareholders.”
The first development solution, targeting “deepfake” videos, is set to be released in the third quarter of 2023.
Additionally, YPB has proposed a capital raising via a placement of 450,546,153 fully paid ordinary shares at 0.44 cents per share to raise $2 million. The issue of the shares is subject to shareholder approval.
Investors will also be issued up to 337,909,615 free attaching options at 0.5 cents per share on the basis of three free attaching options for every four shares subscribed for under the placement.
The funds from the placement will be used by YPB for the payments owed to NVISO under the licence agreement, development costs, reduction of debt and marketing.
YPB shares were last trading at 0.5 cents.
