VANCOUVER, BC, May 08, 2024 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (the "Company" or "Fobi"), an industry leader in harnessing AI and data intelligence to enable digital transformation, is pleased to announce a new strategic partnership with Verifiction, a pioneer in data verification and authentication technology. This partnership is aimed at revolutionizing data verification and authentication to empower entities to safeguard their digital assets, ensuring the integrity and credibility of their work.

PROVIDING INNOVATIVE SOLUTIONS TO VERIFY AUTHENTICITY AND OWNERSHIP OF DIGITAL ASSETS

In today's digital landscape, cybersecurity threats and the proliferation of digital media content have become increasingly prevalent. Businesses and individuals face significant challenges in verifying the authenticity and integrity of data, including music, art, video content, and of course, personal data. This strategic partnership between Fobi AI and Verifiction aims to address these challenges head-on by providing innovative solutions that empower businesses and content creators to safeguard their digital assets against data manipulation, forgery, and unauthorized use.

Rob Anson, CEO of Fobi AI, states: "We are thrilled to collaborate with Verifiction as we have been actively seeking a trustworthy solution to fortify our Fobi Data Exchange against potential cyber threats. Verifiction's state-of-the-art technology not only offers essential security measures for business operators but also has the potential to become the modern-day equivalent of Norton AntiVirus, guaranteeing the protection of personal identities and valuable assets for the general public. With their cutting-edge verification technology that provides a safe haven for digital media, content creators and of course the production and distribution of media, we are very confident in the strength and reliability of our partnership and our future-proofed collaborative business solutions.''

Fobi AI and Verifiction will work together to develop innovative plug-in solutions, specifically tailored to the cybersecurity and digital media industries. These solutions will enable businesses and content creators to verify the authenticity and ownership of digital media assets, such as music, art, and video content, ensuring protection against unauthorized use, copyright infringement, and tampering.

"Verifiction is delighted to join forces with Fobi AI to address the critical challenges faced by the public, businesses operators, content creators cybersecurity and digital media," stated Charles Gadalla, CEO of Verifiction. "By combining our expertise, we aim to provide scalable and trustworthy data verification and authentication solutions that will empower businesses and content creators to safeguard their digital assets and maintain the integrity of their work."

The partnership between Fobi AI and Verifiction will not only enhance data verification and authentication processes but also contribute to the overall security and trustworthiness of the cybersecurity and digital media industries. By establishing robust mechanisms to validate the authenticity of digital assets, this partnership will foster a more secure and reliable digital ecosystem.

This press release is available on the Fobi website.

To download the Fobi Investor Experience Wallet Pass to get enhanced access to investor information about Fobi, please visit our Investor Experience page.

About Verifiction
Verifiction leverages the power of AI and Blockchain technologies to enhance cyber security in the digital ecosystem. By utilizing advanced AI algorithms, Verifiction can detect deep fakes and unauthorized content, providing a crucial layer of protection for content owners. It identifies and flags manipulated or fraudulent digital assets, ensuring that only authentic content is shared and distributed. This safeguards the rights of content creators and maintains the integrity of digital platforms.

Moreover, Verifiction combines AI and Blockchain to provide innovative tools that enhance the authenticity and trustworthiness of digital assets. By leveraging these technologies, the platform offers a more reliable and secure online environment for businesses and content creators. It not only protects digital assets but also fosters trust and transparency among all participants. This ultimately leads to a more trustworthy and credible digital ecosystem, where users, content creators, and businesses can operate with confidence. For more information, please visit verifiction.com/

About Fobi AI
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale.

Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry.

On behalf of the Board of Directors of the Company

Rob Anson
Chief Executive Officer and Director

For more information, please contact:

This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.