IBM Watson developer raises $60M for AI startup Elemental Cognition

David Ferrucci, the artificial quality (AI) researcher who led the squad down IBM Watson’s improvement — the question-answering supercomputer developed by IBM — has raised astir $60 cardinal for his Elemental Cognition AI startup.

According to a submission connected Aug. 17, the institution has finalized equity income amounting to $59.95 cardinal from 17 investors, with further plans to unafraid $5.75 cardinal successful funding.

Based successful the Helmsley Building successful New York, Elemental aims to make AI with precocious reasoning capabilities. The institution provides 2 endeavor chatbot solutions, Cogent and Cora, which are tailored for divers applications, including finance, interactive question readying and technological probe automation.

Elemental Cognition highlights its distinctive hybrid AI platform, which integrates ample connection models (LLMs) with an AI-driven reasoning motor to heighten precision and controlled responses. Although Elemental’s website doesn’t prominently diagnostic generative AI, its LinkedIn profile states that the company:

“provides a revolutionary Generative AI level with superior earthy connection knowing that powers adept problem-solving quality and probe & find applications.”

Among Elemental Cognition’s enactment squad are erstwhile executives of IBM and Bridgewater, including David Shepler, Eric Brown and Mike Barborak. The institution besides includes notable investors and advisers similar Jim Breyer, Sam Palmisano, Greg Jensen and Geoff Yang.

Ferrucci spent 18 years astatine IBM and was besides the manager of applied AI astatine Bridgewater Associates. He led the IBM Watson squad from 2006 to 2012, highlighted by Watson’s triumph connected the tv crippled amusement Jeopardy! showcasing its quality to recognize and process earthy language.

Related: Google upgrades hunt motor with AI-powered enhancements

Despite its archetypal promise, IBM Watson proved to beryllium an unprofitable endeavor. In 2020, IBM divested its Watson Health portion to Francisco Partners. More recently, IBM introduced WatsonX, a workplace aimed astatine grooming and deploying instrumentality learning models.

Growing capitalist enthusiasm for AI startups has been spurred by the popularity of OpenAI’s ChatGPT. Elemental Cognition aims to connection precocious generative AI functionalities, boasting superior earthy connection comprehension for problem-solving and probe applications.

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