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Tuesday, October 09, 2018

Machinify to Monetize Data, Automate AI

First I heard of this, on the surface of it quite a useful claim, and starts from a data-based goal.    Where will it work?  Probably only in certain problem domains.   We spent much time looking at how to monetize data, think about it as an asset, and this could be one channel to consider.

Machinify raises $10 million to help businesses use AI to monetize data
By Megan Rose Dickey  @meganrosedickey in TechCrunch

Data is valuable — if you know how to access it and reap the insights from it. That’s where Machinify comes in. The artificial intelligence company just raised a $10 million Series A round led by Battery Ventures with participation from GV and Matrix Partners.

“Our core notion is that today, enterprises are collecting a ton of data,” Machinify  founder and CEO Prasanna Ganesan told TechCrunch. “But if you look at how many of them are successful in turning it into smarter decision-making to drive efficiency, very few companies are succeeding.”

With Machinify, enterprise customers feed the system raw data, specify what they’re trying to optimize for — whether that be revenue or some other goal — and then the machine figures out what to do from there. Based on past decisions, the machine can figure out the right thing to do, Ganesan said.

A good example of how companies use Machinify is in the healthcare space, where businesses are using the tool to increase the accuracy and speed with which they process claims. By doing so, these companies have been able to increase revenue and reduce costs. .... " 

Reading from their site at: https://www.machinify.com/home/  seems more a move to automate AI based on goals. ... "

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