American firm Exiger has acquired Versed AI, a University of Cambridge spinout specializing in supply chain risk management. Versed AI employs natural language processing to provide visibility and transparency in supply chains by mapping buyer-supplier relationships. This technology aims to help companies meet regulatory requirements, such as the UK Modern Slavery Act, and identify supply chain vulnerabilities. Versed AI, which has won numerous accolades including first prize in Cambridge Enterprise’s Postdoc Business Plan Competition, will integrate its technology with Exiger’s market-leading AI to expand its impact. Both companies share a commitment to ethical practices and transparency in business operations.

Artificial Intelligence, Supply Chain Management, RegTech,United Kingdom, United States

https://businesscloud.co.uk/news/spinout-making-world-more-ethical-snapped-up/