TEL AVIV, Israel--(BUSINESS WIRE)--Superwise.ai has secured $4.5 million in seed funding, led by Capri Ventures and F2 Capital, to further expand the availability of its AI Assurance platform in the U.S. market. The SaaS platform allows business and operational teams to take ownership of the health of AI models, giving them the ability to completely trust the operation and conclusions of their AI-driven processes. Superwise.ai’s platform is already being used by several customers, who are now able to detect and solve any issues in their AI models in real-time, revolutionizing the current reactionary approach that’s triggered by dropped business KPIs, which only occur after an error has become an issue.
According to a recent IBM report, 78 percent of business leaders said that trusting the fairness, safety and reliability of AI outputs is very important. However, AI in production is a black box, making it difficult for models to be continuously monitored and maintained for accuracy and fairness. Inaccuracies can be introduced into AI models due to changes in the data that feeds them, market preferences, product updates, or marketing efforts. Errors by the model can result in lost profits, cybersecurity breaches or, in the worst cases for industries like healthcare, even loss of life. Most businesses lack the tools and practices to effectively detect and prevent inaccuracies from being introduced, making the scalability of AI models impossible.
“Business leaders are eager to implement and reap the benefits of AI, but quickly discover that complexity and lack of visibility creates serious trust issues once in production,” said Ofer Razon, co-founder and CEO of Superwise.ai. “Most organizations don’t discover issues with their model until it’s too late and there’s already a negative business impact. This is partly caused by the fact that in most cases, it’s not even clear who within an organization owns the long term health and accuracy of AI models. Our team has years of experience dealing with this problem across dozens of enterprises, putting us in a unique position to guide our data-driven customers and give them trust in their models.”
“We’re always attracted to innovative companies in new markets that are ripe for growth, and we see endless opportunity for Superwise.ai to continue growing thanks to its product maturity and experienced team,” said Alex Pinchev, Managing Partner, Capri Ventures. “The U.S. market is at the forefront of developing and implementing AI technology, and Superwise.ai already has the traction and customer success to put them miles ahead of the competition and in a position to become the market leader.”
Superwise.ai’s AI Assurance platform includes performance management, bias detection, explainability and AI analytics capabilities. It gives business leaders a direct view into what’s happening in their AI models and why, and also offers proactive actions and recommendations to optimize the model’s behavior for better performance and outcomes. The platform helps protect businesses from the harmful, unintended consequences of biased AI models. By handling issues in real-time, the platform allows the business and operational teams to own the ongoing performance of the models, reducing their dependency on the data science team who can then focus on new initiatives. Superwise.ai’s AI Assurance platform integrates seamlessly into whatever AI platform is already in use, including AWS SageMaker, Google AI Platform, Azure Machine Learning, Kubeflow, H20.ai and custom-built platforms.
According to Gartner’s report, Help the Board Deal With Automated Decisions at Digital Speed (G00433877), “In digital businesses, many operational decisions are made by artificial intelligence (AI) and machine learning systems. It can be even more difficult for executive leaders and CIOs to explain how those systems arrived at their results, because the current technology is complex, and most algorithms are opaque to non-IT executives.”*
“We believe AI Assurance will become a must-have component in any AI implementation,” said Jonathan Saacks, Managing Partner, F2 Capital. “Superwise.ai is a pioneer in the space, and we’re excited to back the team from the beginning.”
Superwise.ai will use the new funding to further expand its presence in the U.S., with plans to hire talent that will work closely with customers and open offices in both New York City and the Bay Area later this year. To learn more about how Superwise.ai can help your business increase trust in your AI models and quickly fix any issues, contact us today.
*Gartner, “Help the Board Deal With Automated Decisions at Digital Speed,” Tina Nunno, David Furlonger and Stewart Buchanan, (G00433877) 10 October 2019.
About Superwise.ai
Superwise.ai enables business and operational teams to take ownership of the health of their AI environments. The company’s AI Assurance platform monitors AI models and can detect and solve issues in real-time, rather than taking the reactionary approach triggered by dropped business KPIs, which only occur after an error has become an issue. It bolsters trust for business leaders and operational teams who no longer need to rely on data science teams to ensure that AI models are functioning properly. The Superwise.ai platform includes AI performance management, bias detection, explainability and AI analytics capabilities.
The founding team brings vast experience from the AI market. Superwise.ai was conceived when co-founder and CTO Oren Razon noticed a gap in the AI market, after his time as a founding member of Intel’s AI internal competence center and as co-CEO of a leading AI services company.
Contact the Superwise.ai team today to learn more about the industry’s leading AI assurance platform.