Meet AIVA: Black Knight buys Philly artificial-intelligence start-up

Black Knight Inc., a Jacksonville-based firm with a $1 billion in annual sales analyzing mortgages for large banks, says it has agreed to purchase HeavyWater, a University City Science Center-based, two-year-old firm that is developing AIVA ("Ava,") an "artificial intelligence and machine learning" mortgage lending system to speed loan approvals, from founder Soofi Safavi. Safavi will remain in charge of the 14-person group, which he said plans to hire 5 more people by June 19. Black Knight said in a statement that it will use and improve AIVA -- the Artificial Intelligence Virtual Assistant -- to "read, comprehend and draw conclusions based on context to mimic cognitive thinking and build expertise," and that it will also make the technology available to clients as a way to speed mortgage approvals and boost accuracy in verifying income, assets and insurance coverage. "Artificial intelligence, machine learning and neural network solutions are the future," and Heavy Water will help make that happen for Black Knight clients, said that company's CEO, Anthony Jabbour, in a statement. Safavi served as chief technology officer at Radian, the Philadelphia mortgage insurer, before starting HeavyWater in September of 2015.