LONDON, June 6, 2018 /PRNewswire/ --
Platform that connects organisations to AI experts and accelerate adoption is backed by a group of leading Angels including Brent Hoberman, Esther Dyson, Joanna Shields and William Tunstall-Pedoe
CognitionX has secured more than $3 million in funding for its newly-released AI advice platform, which connects organisations to a global on-demand network of AI experts including tech specialists, business people and academics.
The seven-figure investment comes from a range of leading figures in the technology community. Key investors include: Brent Hoberman CBE, Executive Chairman at Founders Factory, Co-Founder and Non-Executive Director at MADE.COM, Executive Chairman at firstminute capital and Co-Founder of lastminute.com, start-up investor Esther Dyson who focuses on healthcare technology. Joanna Shields, Group CEO of BenevolentAI, a leader in the use of AI for scientific discovery, who previously served as the UK's first Minister for Internet Safety and Security, former Trade Secretary and entrepreneur Lord Young and William Tunstall-Pedoe, whose Evi business was acquired by Amazon and used to create Alexa.
By using CognitionX to privately ask a question, select an expert and get on-demand answers tailored to them, organisations will save the time and money that is often poured into scouring the web, looking internally and employing consultancies.
The first release focuses on the use of AI to transform HR and Recruitment, tracking over 350 software vendors. With expansion into other areas including chatbots and financial services already planned, CognitionX will help organisations form their plans across all departments, make decisions about the use of AI, and accelerate their speed of implementation. This direct connection to scarce on-demand AI knowledge is set to transform and grow the current technology consulting market, which has always charged for access to their expertise and advice.
"AI is at the point where organisations need to define their strategy and start deployment, not in 10 years, but right now," said Charlie Muirhead, CEO and Founder of CognitionX. "We want to transform the way knowledge and expert advice is accessed. Web search has many merits, but organisations need advice specific to their needs across departments. Sometimes they may even have the expertise internally, but often end up turning to consultancies for this."
"What they really want is ad hoc questions from anyone across the organisation answered by experts, at the time they choose. CognitionX's AI advice platform will not only give them access to the experts on our network and directory of products, but also their own internal experts, dramatically reducing the time and cost of moving their AI plans forward. The platform launches with comprehensive coverage of HR and growth from there."
The CognitionX AI Advice Platform, available free of use to organisations and experts, is in alpha release now and available to all. It is expected to go into beta September 2018. From today, users will get access to the Directory of HR AI products and services, the expert network, daily news and smart alerts.
The premium "Pro" subscription of £100 per month is also available now. Pro users receive the added benefit of analytics, deep market insight and priority access to events including CogX, the annual festival of AI. London-based CogX 2018 will welcome over 4,500 confirmed attendees (expecting up to 6,000) and 300 speakers on June 11-12, making it one of the world's largest AI gatherings. Joanna Shields will deliver CogX 2018's opening keynote. An "Enterprise" version of the platform for large organisations is also in development.
"We have a unique opportunity to catalyse adoption of artificial intelligence in the UK," added Tabitha Goldstaub, Co-Founder of CognitionX. "Our platform helps to remove the barriers to deployment, by reducing the time it takes to make decisions and find the right AI services to use. As industry and government gain more confidence in implementing AI, we will see the technology adopted more often and more successfully. As long as the challenging ethical considerations are understood, AI is designed responsibly, and the benefits fairly distributed, this will lead to a brighter future for the country."
CognitionX is the AI Advice Platform that connects organisations with a global on-demand network of AI experts. The platform allows experts in AI from the around the world to share invaluable expertise with organisations of any size and sector who want to tap into that knowledge.
Through the platform, organisations can find an answer to their AI question very quickly, regardless of where they are. AI experts can either share knowledge for free or charge a fee.
Founded in 2015 CognitionX's mission is to bring clarity to, and accelerate adoption of, AI across all organisations from global enterprises to startups, and help ensure a safe and responsible transition to an AI-driven society. Through its freemium model, CognitionX's expert network helps level the playing field, by making scarce AI expertise accessible to all, and provide a new way for experts to monetise their knowledge.