Wednesday, 28 June 2023, Bengaluru, India
Businesses are using generative AI more and more. It’s probable, though, that they are not taking into account all the problems and difficulties associated with integrating the technology into their current operations.
In a recent KPMG poll, 90% of firms stated that they were unaware of how to limit the risks associated with using generative AI and that they had “moderate to highly significant” worries about the dangers. Only 6% of respondents, on the other hand, said they believed their company had a functioning AI governance program.
Neil Sereybrany launched CalypsoAI, a firm that creates software to test, evaluate, and monitor in-house and externally produced AI apps before they are deployed, in part because of these factors.
Sereybrany gave TechCrunch an email interview and said that CalypsoAI’s platform promotes the power and competitive advantage that using AI can provide but within a safe, secure, and dependable approach.
That considerably raises the bar. Investors, though, are confident in CalypsoAI’s ability to deliver. The startup said today that it has raised $23 million in a Series A-1 round, which was headed by Paladin Capital Group and featured Lockheed Martin Ventures, Hakluyt Capital, and Expeditions Fund.
Anne and Susan Wojcicki, co-founders of 23andMe and former CEOs of YouTube, were notable angel investors who contributed to the A-1 tranche. CalypsoAI has raised a total of $38.2 million to date.
Using dashboards that display statistics on the toxicity of the models, user engagement, and other metrics, CalypsoAI says that their technologies, when installed as a container within an organization’s infrastructure, enable organizations to monitor and influence the use of sophisticated language models like ChatGPT. Sereybrany claims that CalypsoAI can detect assaults from generative AI tools and stop critical firm data from being shared on models.
There is undoubtedly a need for a generative AI guardrail solution in the corporate sector. Businesses including Apple, JPMorgan Chase, and Verizon have prohibited or placed restrictions on the usage of ChatGPT-type products internally out of concern that staff members would unintentionally reveal confidential information. Many of these same businesses are afraid of the toxicity and disinformation problems with generative AI, which still afflict even the strongest models now on the market.
Aiming at the enormous potential addressable market, the industry has developed to satisfy the need. In addition to generative AI models from OpenAI, such as ChatGPT, Microsoft also offers the Azure OpenAI Service, which adds governance and compliance features. Salesforce has just introduced the Einstein Trust Layer, which aims to stop text-generating models from saving private information.
According to Sereybrany, “securing LLMs in the enterprise has become a critical endeavour, leading to CalypsoAI’s strategic shift to address the needs of enterprises looking to use AI solutions.” The capacity to produce the greatest product and entice the finest talent to protect corporate organizations is something CalypsoAI is confident about given the large number of organizations wishing to safely deploy generative AI solutions to advance their businesses.
According to Sereybrany, CalypsoAI will use the money from the most recent tranche to support the company’s go-to-market strategies, hiring, and product development. The startup CalypsoAI currently employs 35 people, and as part of its strategy to treble that number over the next two years, it recently opened an office in Dublin.
The value of bringing on additional investors to support our growth is something we appreciate as our firm grows and expands, he stated. “We can keep innovating and advance our business by partnering with investors who share our vision and goals,” the statement reads.
[Source of Information: Techcrunch.com]
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