AUSTIN, Texas, June 21, 2018 /PRNewswire/ -- CognitiveScale, the leader in augmented intelligence software and Responsible AI, today announced it was named a 2018 Technology Pioneer by the World Economic Forum. According to the World Economic Forum, the title is bestowed upon the most innovative and impactful early-stage companies developing new technologies that are poised to have a significant impact on business and society. Recipients of this honor in previous years include AirBnB, Google, Dropbox, Kickstarter, Twitter, and Palantir.
CognitiveScale's unique augmented intelligence software, with over 120 patents pending, helps organizations apply and operationalize enterprise AI at scale, reducing required skills and cycle time by bridging the tooling gap between data science and deployment operations. The company's innovative Cortex 5 software is designed to complement, not replace, the human workforce, with machine-augmented intelligence driving superior user engagement and operational productivity. Some of the world's largest banking, insurance, digital commerce, and healthcare companies benefit from CognitiveScale Cortex 5 software to drive AI-powered personalization, intelligent decision support, intelligent process automation, and risk and opportunity surveillance.
In addition to developing advanced AI technology and systems, CognitiveScale has led the industry charge for Responsible AI, including the founding of AI Global, a non-profit organization created to accelerate practical and responsible design, development, and use of artificial intelligence. This includes innovative initiatives such as the open AI-Global Marketplace which brings the power of an App Store to complex AI systems built with a Responsible AI framework.
"We're honored to receive this recognition from the World Economic Forum whose work we've long admired," said Akshay Sabhikhi, CEO and co-founder of CognitiveScale. "CognitiveScale was founded on the belief that machine-augmented intelligence will drive vastly improved engagement and productivity for people and companies. Working with the World Economic Forum and partners, we're looking forward to making this a reality so it can lead to a healthier and better future for all."
"Congratulations to CognitiveScale for this well-earned honor," said Akshaya Bhargava, Founder of Bridgeweave, Ltd. and former CEO of Barclays Wealth & Investments Management. "Bridgeweave relies on CognitiveScale's Cortex technology to deliver AI-powered asset intelligence products that help investors make better decisions through types of insights that have never been possible before."
The World Economic Forum's Technology Pioneers community are early-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.
CognitiveScale builds augmented intelligence software that solves complex business problems at scale for financial services, healthcare, and digital commerce markets. Built on its Cortex 5 augmented intelligence platform, the company's software helps enterprises apply AI and blockchain technology to increase user engagement, improve decision-making, and deploy self-learning and self-assuring business processes.
Headquartered in Austin, Texas, CognitiveScale has offices in New York, London, and Hyderabad, India, and is funded by Norwest Venture Partners, Intel Capital, IBM Watson, Microsoft Ventures, and USAA.
For more information on the company, please visit us at cognitivescale.com and follow @cognitivescale on Twitter, Facebook and LinkedIn.
Greg Wise, Bhava Communications for CognitiveScale, [email protected], 512-213-9899