The media reports that the startup Phacet, which operates in the space of the artificial intelligence industry, managed to raise investment funds for $4.4 million.
The mentioned startup intends to spend the received funding on its solutions for small businesses. The seed fundraising round was launched against the background that Phacet, based in Paris, is currently implementing efforts aimed at extending its artificial intelligence apps. It is worth noting that in this case, digital products are meant that are intended for use by companies belonging to the category of small and medium-sized enterprises. Some of the sectors applying the mentioned artificial intelligence apps are industry, finance, and e-commerce. The relevant information was published by the media last Monday, September 23.
Nicolas Marchais, founder and chief executive officer of Phacet, said that investor support will allow the startup to advance its mission of building a bridge between rapidly developing artificial intelligence models and the specific needs of small and medium-sized businesses. According to him, the realization of the mission will generate the opportunity to move from the desire to integrate machine intelligence to its implementation in different departments.
The media reports that Phacet interacts with customers to find out which apps are needed to enhance business processes. Customers can participate in AI Bootcamp on the startup platform. This platform generates apps together with Phacet’s artificial intelligence engineers and the client team.
The startup claims that the integration of a centralized platform and a sole supplier provides businesses with a consistent experience, data connectivity, and cost control.
It is worth noting that the Phacet funding round is taking place at a landmark moment when artificial intelligence is gradually ceasing to be a technology available only to big companies that have a large-scale financial resource.
The media has highlighted how small and medium-sized Main Street businesses can achieve growth as a result of the strategic use of machine intelligence. It is worth noting that within the framework of this practice, apply an approach that differs from the concepts of larger companies.
At the same time, companies belonging to the small business category are not just trying to catch up with bigger structures. Firms of the appropriate category use artificial intelligence within the framework of such strategies, which are combined with their unique scale and operations. In this case, access to working capital improves, marketing activities are transformed in a positive sense and workflows are automated.
Large corporations can use artificial intelligence to optimize global supply chains. Companies belonging to the small and medium-sized business sectors apply AI at a more localized level. For example, an auto repair shop could use artificial intelligence to predict which parts will be most in demand based on an analysis of previous customer requests. Appropriate practice can reduce the need for the formation of large inventories and ensure the constant availability of the most important parts.
For small and medium-sized businesses, the successful effect of the introduction of artificial intelligence may be based on the fact that companies of the appropriate category can independently decide how to integrate AI into their business models. By focusing on apps that match unique needs and strengths, Main Street firms can leverage artificial intelligence to ensure sustainable and productive growth. This is to a certain extent an advantage compared to larger companies.
It is worth noting that during the period of active development and intensive spread of artificial intelligence, the issue of cybersecurity is of particular importance. In this context, it is important to pay attention to the fact that fraudsters who carry out their activities in the virtual space have access to AI technologies. The application of artificial intelligence has made the cybercriminals’ methodology more sophisticated. To counter this threat, personal awareness of users is important. For example, a query in an Internet search engine, such as how to know if my camera is hacked, will allow anyone to get information about signs of unauthorized access to the device.
