In 2016, AI companies managed $5 billion in funding across 658 deals. That’s a 62% increase from 2015. That’s a lot of benjamins, pounds, bitcoin, or whatever currency you’re throwing at this space.
Investment comes from its promise. Already, powerful AI applications are letting companies move at a much more efficient pace. That said, AI is still very new, and the talent pool that understands how to utilize it is limited. There are even fewer who understand how to deploy the logic of neural networking, cognitive science, and computational linguistics. One company that’s figured out how to harness that talent is Yewno.
I interviewed Ruth Pickering, the co-founder and chief business development and strategy officer. Her experience spans from media technology and telecommunications to AI, where prior to Yewno, she served as managing director of BT Wholesale, was one of the Global Telecoms Business top forty-under-forty in 2010, and then was shortlisted for woman of the year in technology in 2011. Yewno is helping people uncover the undiscovered through its new inference engine, which introduces an entirely new approach to knowledge discovery. It essentially mimics the human brain and the Yewno inference engine incorporates machine learning, cognitive science, neural networking, and computational linguistics into a highly visual solution to enhance discovery and human understanding. So for example let’s say you're a researcher for a biomedical company working on cancer research. You have to navigate through thousands, if not millions of pieces of data and content to find the research that you need to do any kind of experimentation or even make progress with your own research. Utilizing traditional search can make this quite complicated, but what if you had the power of AI and neural networking to actually help you identify the resources and relevant connections at an accelerated rate and as result, develop a cure faster.
Yewno has done an amazing job in terms of getting out there, becoming known, causing buzz, and as a result we believe the company is on acquisition lists for a number of publishers. 2018 could be a bit of a tricky year as the company needs to cement its position and differentiation in an effort not to become overwhelmed as AI gets bigger and more openly developed and accessed.