Israel's BlackSwan Technologies announced Tuesday the release of the world’s first enterprise AI operating system that it says enables any company to leverage the most advanced artificial intelligence for an unprecedented level of operational efficiency and data-driven decision making.
The company also said it has secured $28 million in a Series A financing round led by investors Prytek, FinTLV and MS&AD Ventures. The funds will be used to accelerate growth, continue developing new advanced AI applications and expand the BlackSwan team, according to the company.
The company’s flagship software ELEMENT is said to bring AI closer to human learning and intelligence by combining multiple AI technologies — including machine learning, natural language processing, deep learning, neural network and data operation facilities — into a single platform.
According to Blackswan, ELEMENT enables companies to harness and organize data, reveal non-obvious relationships, identify unseen risks, reveal overlooked opportunities and predict the future by harnessing the full potential of data to detect far-reaching risks and opportunities.
ELEMENT’s end-to-end system transforms raw data into actionable insights that companies can leverage to identify opportunities, reduce costs and manage risk. It does not require well-organized data sets, countless hours of data normalization or technical in-house expertise to implement. ELEMENT’s system includes several advanced enterprise applications including for risk management, compliance, lead generation, personalization and market intelligence. The platform also allows users to build enterprise applications up to 60 times faster and at a fraction of the cost of market alternatives, says the company.
“We believe this represents a true paradigm shift in enterprise software, eliminating all barriers to digital transformation so that enterprises can easily harness big data and artificial intelligence to generate immediate and actionable business insights,” said BlackSwan’s founder and CEO Michael Ouliel. “Our aim is to completely disrupt the enterprise software market by finally making the world’s most advanced artificial intelligence available to any company.”
Ouliel is said to have conceptualized the idea for BlackSwan while reflecting on his years as an Israeli intelligence officer and consultant for Oracle, realizing that data processing systems were leaving large and complex organizations exposed to unforeseen risks due to the limited scope of data they could access and understand.
Besides its headquarters in Tel Aviv, BlackSwan has offices in the United Kingdom, Germany, Poland and the US.