The AI industry promises to change our lives in all sorts of wonderful ways. From automating a lot of what we do on daily basis to play even life-saving roles. This is what AI start-up Cherry Labs has done by concluding its latest financial round and adding $5.2 million in fresh private equity capital.
The company has worked out an AI solution that can help elderly users when they are about to fall, run into an obstacle and just generally fulfil the role of the good godmother taking care of those who are facing some impediment.
The AI solution developed by Cherry Labs is going to alert its users about upcoming obstacles, which will in turn allow everyone to stay protected throughout their homes. The latest funding round may seem like a modest amount, estimated at $5.2 million and led by GSR Ventures, but it’s in fact much more substantial than that. Many VC firms are now looking to invest into Cherry Labs.
The financial jab will allow users to benefit in full from the usefulness of the AI bot which will alert them about immediate dangers in their surroundings. Estimated 9,000 in the United States alone are caused due to accidents that relate to people following at home.
But just stop and think. This technology can be easily extended to other people in other situations. Old age isn’t the only condition that actually necessitates people to have better sensors and orientation. In plain words – the implications are immense and this can help blind people and patients with various stages of visual impairments.
In some very rare cases, it could be a matter of a condition that makes people unable to see moving objects, which makes each crossing of the street a very dangerous and frightening experience.
But beyond that, even more everyday conditions (such as lazy eye) can be offset by the technological advancements introduced by Cherry Labs. Investing so readily in a solution that promises to have a transformative effect on people’s lives is of the utmost importance and it’s definitely worth pursuing.
With this in mind Cherry Labs truly want to reach the point in the development of the project where it can be launched on a massive scale and introduced to other markets. The technology is apparently there and the start-up doesn’t lack the necessary funding to address serious challenges that were previously thought either not worth investing into or too much of a bother to fix and solve. For a startup capital fund, Cherry Labs has come a long way.
However, this universal AI solution by Cherry Labs proves to be of help to its users while it manages to appeal to investors who are looking for something that will keep their pockets full in the years to come. Cherry Labs’ product is most certainly worth investing into and anyone who wants to make sure that they are making a buck out of their investment should probably invest here.
Cherry Labs is also trying to understand human behavior with the AI bot faithfully logging in every specific movement and making an overall statistics of the user’s patterns and movement.