Forge.ai has managed to increase its private equity, adding $11 million in fresh capital to its offer. The company will use the newly-gained funds to directly influence its data labelling and predictive insights platform, which will most likely to subsequent investment from private investors interested in purchasing solutions that build economic models based on trends.
Presently, Forge.ai employs 40 people with company CEO Jim Crowley explaining that Forge.ai intends to expand again in 2019. In light of the additional funding that has been obtained, the company will now seek to add even more skilled technicians and spearhead its products.
Forge.ai announced that it’s presently looking for AI scientists, engineers and staff members who can market the product successfully. The solution is quite accomplished in its own right, allowing customers to use the platform to make predictive insights.
The company bases its platform on big data, meaning the gathering of large chunks of information off the Internet. The information that is gathered is available in the public domain and it includes Facebook profiles, SEC regulatory filings, and more text-based contents that can streamline the platform and help it expand further.
Forge.ai’s insights can be particularly helpful when it comes to finance projects, because the findings will allow specialists to craft even more reliable models for the future, allowing financial institutions to stave off crisis and safeguard against downturns in the economy.
Even though Forge.ai relies on the public domain to expand its offer, the company is determined to continue pursuing a course of action that allows it to access paid-registers and more sources of information a bid to provide even more accurate prediction models.
The company allows users to use the big data solutions after they have been gathered and labelled and inject them directly into sophisticated quantitative models and algorithms, thus allowing them to make the necessary predictions.
Forge.ai is one of the many companies this year to add to its capital in a significant way. The company has managed to grow its operations several-fold in 2018 alone, making sure that it’s one of the up-and-coming actors in the big data prediction models’ sector.
Forge.ai’s offer is important as it allows companies to be completely prepared for what is to come. The company also hopes to develop its product to a point where all future downturns in business can be avoided with proper planning years ahead owing to the trends that can be picked from the public domain.
At the same time, the experts from Forge.ai remain perfectly aware that there are possible complications that come with overreliance on such public predictive models. Forge.ai has acknowledged that deliberate attempts to sabotage the predictive model can emerge in the cases where there is a constant influx of information that is not genuine.
However, this is very unlikely and Forge.ai have already developed a way around it by trusting only authority sources, similar to what most companies already do.
The future belongs to big data solution, and Forge.ai is quite prepared to put its own on the map.