Intel Backs Mighty AI
January 11, 2017
Spare5 has relaunched
the company as Mighty AI and raised a Series A1 round of $14M. In
addition, Mighty AI signed agreements with Intel and Accentur. Intel
will be able to promote and sell Mighty AI's training data services to
its global customers, and Accenture will recommend and integrate Mighty
AI's training data services for its global clients.
Intel Capital led the round with participation from new investors GV
(formerly Google Ventures) and Accenture Ventures and additional
investment from Foundry Group, Madrona Venture Group and New Enterprise
Relaunching as Mighty AI reflects the company's core business of
delivering the human insights artificial intelligence (AI) engines need
to see, hear, talk and "think" like people. Its Training Data as a
Service™ (TDaaS™) platform helps businesses obtain the datasets they
need to train and scale their computer vision and natural language
"In the future, we will count on AI to make every aspect of our lives
better," said Mighty AI Founder and CEO Matt Bencke. "AI will manage our
information, schedules and energy use. It will make our factories, roads
and homes safer and more efficient. It will provide us each with a
personal shopper and investment advisor. But, for AI models to do all
this and more, they need to understand what and how we think. Mighty AI
is the critical link between computer and human cognition, putting the
right humans in the right learning loops."
Mighty AI will use the new funding to extend both its TDaaS platform and
community of Fives—a network of tens of thousands of individuals who
conduct microtasks in their spare time, such as identifying and labeling
objects in images or doing sentiment analysis of text. With the funding,
Mighty AI will also grow its team by adding new data scientists,
engineers and product, sales and marketing professionals.
"As our CEO, Brian Krzanich, has said, AI is not only the next big wave
in computing; it's the next major turning point in human history," said
Doug Fisher, Intel Corporation Senior Vice President and General Manager
of the Software and Services Group. "Intel is investing in AI, with the
goal of driving breakthrough performance while making AI solutions more
accessible and easier to deploy for all. We see a significant
opportunity across applications such as automated driving, robotics,
healthcare and the Internet of Things. To produce high quality data for
training models to deploy, it is essential to obtain clean, accurate
human annotations at scale. With today's announcement, Intel is pleased
to team with Mighty AI to power the world's AI engines, operating on
Intel® architecture and guided by Mighty AI's training data platform."
"As a leader in applying AI to both our own business and our clients'
businesses, we know that AI will drive the next wave of business and
societal transformation," said Paul Daugherty, Accenture's Chief
Technology & Innovation Officer. "Data is the fuel required to power AI
solutions, but many clients lack the right tools and solutions to
achieve the business value they are looking for from their AI
initiatives. By teaming with Mighty AI, we see a great opportunity to
break this bottleneck, accelerate the integration of training data, and
drive better business outcomes more rapidly."
Mighty AI's agreements with Intel and Accenture gives customers better
access to tools and services across the AI stack, also known as the four
components of any AI model:
such as the chips Intel builds;
mathematical algorithms that process tremendous amounts of calculations
in parallel to "think;"
3.The training data
that turns these blank slates into simulations of human knowledge; and
4.The application of
the resulting AI models in interfaces that make it easy for people to
the new agreement, customers of Accenture and Mighty AI will get a more
streamlined experience as they execute across the full AI stack to apply
their models. The formation of the relationship with Mighty AI was led
by Accenture Ventures, which focuses on teaming with and investing in
companies that create innovative enterprise technologies.
"We couldn't be more excited to team with Intel and Accenture, both of
which are second to none in their respective industries," said Bencke.
"Our mission at Mighty AI is to tap the world's potential brainpower so
that our customers' AI engines have heroic impact. Words matter, and
today we declare that we operate the world's best platform to make our
customers' AI models mighty, together with our industry-leading