CognitionX nabs multi-million pound funding for AI advice platform

Technology company CognitionX has secured over $3m (c.£2.23m) in funding for its new AI advice platform.

The investment came from various tech community figures, including Brent Hoberman CBE, co-founder of lastminute.com; medtech-focused startup investor Esther Dyson; and Joanna Shields, group chief exec of BenevolentAI.

Also among the backers were former Trade Secretary and entrepreneur Lord Young and William Tunstall-Pedoe, whose Evi company was snapped up by Amazon and used to create Alexa.

West End-based CognitionX said its platform gives users on-demand access to a global network of AI experts from business and academia.

Charlie Muirhead, CEO and founder of CognitionX, said: “AI is at the point where organisations need to define their strategy and start deployment, not in 10 years, but right now.

“We want to transform the way knowledge and expert advice is accessed.”

He continued: “Web search has many merits, but organisations need advice specific to their needs across departments. Sometimes they may even have the expertise internally, but often end up turning to consultancies for this.”

CognitionX co-founder Tabitha Goldstaub commented: “We have a unique opportunity to catalyse adoption of artificial intelligence in the UK.

“Our platform helps to remove the barriers to deployment, by reducing the time it takes to make decisions and find the right AI services to use.”

The AI advice platform is in alpha release now. It is due to go into beta this September.