Advanced Computing in the Age of AI | Thursday, February 22, 2024

BlackSwan Unveils an AI OS 

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An Israeli software services developer debuting this week positions its platform service as an enterprise AI operating system that combines deep and machine learning, natural language processing, neural networks as well as data operations.

Tel Aviv-based BlackSwan Technologies also announced a $28 million funding round this week along with a partnership with business consultant Deloitte focused on providing banks with AI-based capabilities.

Formed in 2014, BlackSwan said its platform service, dubbed Element, is a low/no code, cloud agnostic AI operating system that does not require organized data sets while at the same time providing enterprise applications like risk management and data compliance. The goal is to bring “AI closer to human learning and intelligence.”

Element is described as a cognitive operating system “centered on the concept of augmented human intelligence.” The combination is designed to help for accelerate development of AI-driven applications, the company said.

According to BlackSwan’s web site, its flagship platform is “big data, cognitive computing. AI, contextual analytics system” focused on data acquisition and fusion. Predictive analytics and business intelligence capabilities are “pre-integrated.”

A component dubbed a “Gravity Hub” gathers, analyzes and prepares data for processing, then hands off the products to successive cognitive, discovery and management hubs for mapping, visualization and configuring according to business requirements.

The hubs are further touted as handling both structured or unstructured data, “regardless of format, volume, velocity or method of acquisition.”

Ultimately, the platform is aimed at the “cognitive computing era… turning massive volumes of data and interaction into real-time situational awareness,” the company said.

Achieving that goal on a single platform would help accelerate the development of new enterprise applications, allowing users to “harness big data and artificial intelligence to generate immediate and actionable business insights,” said Michael Ouliel, BlackSwan’s founder and CEO. “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 a former Israeli intelligence officer. He has also worked as a consultant at Oracle Corp. (NYSE: ORCL).

The startup also announced a financing round that raised $28 million. The Series A round was led by Prytek, FinTLV and MS&AD Ventures. BlackSwan said the funds would be used to developing new AI applications while expanding its development team.

The company emerged from stealth mode in May with the introduction of a “know-your-customer” systems billed as a “military-grade security SaaS platform.” The on-demand platform is designed to help financial institutions attract new customers and sell regulated financial products while meeting stringent compliance requirements.

The platform targets regulatory challenges brought about by distributed workforces. “Working remotely, particularly when onboarding new clients or selling regulated products, brings with it a hefty dose of compliance challenges,” the startup noted.

About the author: George Leopold

George Leopold has written about science and technology for more than 30 years, focusing on electronics and aerospace technology. He previously served as executive editor of Electronic Engineering Times. Leopold is the author of "Calculated Risk: The Supersonic Life and Times of Gus Grissom" (Purdue University Press, 2016).