News

RagaAI Secures $4.7 Million

The startup RagaAI, which was founded by technology veteran and former Nvidia executive Gaurav Agarwal, raised seed funding for $4.7 million.

RagaAI Secures $4.7 Million

The mentioned funds will be used to implement solutions related to the development of a tool that can automatically detect and eliminate flaws in artificial intelligence systems.

The startup’s message, which was published last Tuesday, January 23, reports on the RagaAI foundation’s breakthrough models called RagaAI DNA, created specifically for testing machine intelligence. The company notes that its development is a platform that offers 300 tests for automatic problem detection, diagnosis, and instant elimination. Potentially, such a product may be of interest to firms that specialize in creating machine intelligence systems.

The startup intends to use the received funding for research. The company also plans to use some of the money for hiring staff.

Gaurav Agarwal started his career at Texas Instruments. Then he worked at Nvidia, which is currently the world’s leading manufacturer of advanced chips needed, among other things, for the training and operation of artificial intelligence systems, and mobility startup Ola.

RagaAI was founded in January 2022. The startup aims to use artificial intelligence testing to narrow the gap between commercial results and technological efficiency.

RagaAI focuses on identifying flaws in the functioning of machine intelligence systems, such as so-called hallucinations. In this case, it means a malfunction in the operating of artificial intelligence models, expressed in the form of creating false information positioned by AI as a reliable reflection of phenomena and facts from the space of objective reality. Hallucinations can also manifest themselves in an inadequate response to requests from the outside. Such failures can have very serious consequences in artificial intelligence apps, which are used in autonomous vehicles and the sphere of healthcare.

RagaAI aims to become one of the main players in the sector of solutions designed to eliminate failures in the functioning of machine intelligence systems.

The startup also wants to draw attention to the fact that not all artificial intelligence models can process information in real time. The company strives to eliminate this shortcoming. In case of a successful solution to the corresponding task, the level of efficiency and accuracy of machine intelligence systems will be increased.

Gaurav Agarwal stated that the consequences of failures in the operation of artificial intelligence models due to the lack of a high-quality testing mechanism are a problem that he observed during the work in Ola and Nvidia. His startup solves this problem for large Fortune 500 companies.

Gaurav Agarawal stated that the firm’s vision is to free artificial intelligence from the limitations that are associated with human intervention and to contribute to the continuous improvement of digital thinking systems. Separately, he noted that his startup is striving to expand the boundaries of detecting problems with machine intelligence in automatic mode and eliminate these shortcomings.

RagaAI’s goals align with the current demand for safer and more reliable artificial intelligence. Automatic testing and troubleshooting solve the relevant tasks.

In December, the National Institute of Standards and Technology (NIST) of the US Department of Commerce took the first step towards forming a system of standards for the safe deployment of artificial intelligence and the protection of up-to-date AI systems. The agency sent a request for information designed to help it fulfill its duties following the decree of the President of the United States Joe Biden on the safe development and use of artificial intelligence. NIST was tasked with creating internal guidelines for estimating machine intelligence models, promoting consensus-based standards, and providing an environment for testing artificial intelligence systems. In this case, the main goal is to create an infrastructure to support the development of AI in the United States.

As we have reported earlier, ElevenLabs Raises $80 Million for AI Projects.

Serhii Mikhailov

2376 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.