Seattle-based startup Mighty AI, recently rebranded from Spare5, has raised $14 million in a Series A1 round led by Intel Capital, with participation from new investors Google Ventures (GV) and Accenture Ventures. Existing investors Foundry Group, Madrona Venture Group, and New Enterprise Associates also contributed to the round. Founded in 2014, Mighty AI pays subject matter experts to fine-tune artificial intelligence (AI) engines so they can see, hear, talk, and "think" like humans. Businesses that are looking to use AI technology, but don't have the datasets required to set up effective AI software, are able to acquire the right datasets to train and scale their computer vision and natural language models. "In the future, we will count on AI to make every aspect of our lives better," said Mighty AI founder and CEO Matt Bencke.

Spare5, a gig economy startup that uses the general public to help train companies' artificial intelligence (AI) algorithms, has today relaunched as Mighty AI and announced a $14 million funding round led by Intel Capital, with participation from other new investors GV (Google Ventures) and Accenture Ventures. Existing investors Foundry Group, Madrona Venture Group, and New Enterprise Associates (NEA) also participated in the round. Founded out of Seattle in 2014, Spare5 has hitherto partnered with big-name companies such as Microsoft, Pinterest, and IBM, among others, who provide the Spare5 community with "tasks" -- these generally focus on identifying the meaning of media assets such as photos, videos, and audio. For example, someone may be presented with a picture of a landscape, and they would have to tell the system what the mountain is, and whether the large body of water it identified is a lake. Moving forward, the company will be known as Mighty AI, and in addition to the funding round, it has signed deals with Intel and Accenture.

Artificial Intelligence, as we see it, is a collection of multiple technologies that enable machines to sense, comprehend and act--and learn, either on their own or to augment human activities. Compelling data reveal a discouraging truth about growth today. There has been a marked decline in the ability of traditional levers of production--capital investment and labor--to propel economic growth. Yet, the numbers tell only part of the story. Artificial intelligence (AI) is a new factor of production and has the potential to introduce new sources of growth, changing how work is done and reinforcing the role of people to drive growth in business.

Global technology major Accenture is looking to use the power of combination of the best technologies in the world to build solutions that are unique for their clients. "Accenture is like a glue organisation," says Marc Carrel-Billiard, global managing director -Technology R&D, Accenture. Accenture's technology R&D division is working towards combining different technologies wherein Artificial intelligence (AI) and Internet of Things (IoT) are at the core of it. Their engineers are combining AI with deep learning and machine learning to interpret the large amounts of data being generated from the 20 billion connected devices today. "So, if you combine all the data coming from the sensors with all the computing power, machine learning...we have the best of both worlds. We need to combine them and the combination is a cure, that's exactly what I am talking about - combining things together that makes a big difference," says Carrel-Billiard.

Accenture plc published this content on 30 December 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 December 2016 09:37:05 UTC.

What does a truly data-driven business look like as a new age of artificial intelligence dawns--and how do organisations find the right balance among all the moving parts behind big decisions? Emerging technologies such as machine learning, natural language processing, and conversational agents can create giant leaps of efficiency, meaning, and insight hidden within businesses and the world at large – an enormous opportunity for leaders to make more informed and effective decisions. Seizing the opportunity will require leaders who can weigh the power and influence of both artificial and human intelligence, finding a balanced path that makes the most of each unique capability. In our latest survey we've captured a ground-level view across 2,100 C-suite leaders, business unit heads, and SVPs as they grapple with the biggest choices facing their companies. These leaders say they are sold on the power of data and analytics to deliver insight into key questions they need to answer.

This is the complete video of my keynote on the Digital Transformation of Business and Society; a futuristic view of impacts that the shift from labor to automation will have on businesses and society in general. Please note: audio-only versions of many videos are being made available here: http://gerd.fm/gerdaudiofeed My vimeo channel is here: https://vimeo.com/gerdfuturist Most of my books, presentations and slideshows are available via http://www.gerdcloud.com

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