© 2020 – 2021 AEA3 WEB
Image default
IT

UK startup LGN secures £1.4M for rethinking AI for business resilience

Based out of London, LGN develops and operates resilient edge AI systems at scale in the real world. To reiterate, Edge AI is a combination of edge computing and AI, where AI algorithms are processed locally on a hardware device.

Secured £1.4M

Recently, the UK startup has secured $2 million (approx £1.4 million) in funding with backing from investors like Trucks Venture Capital, Luminous Ventures, and Jaguar Land Rover. The company will use the investment to continue its mission of getting AI into the real world.

Develops & operates edge AI systems

Founded in 2018 by Daniel Warner, Dr. Luke Robinson, Professor Vladimir Čeperić, and James Arthur, LGN (a compressed representation of INTELLIGENCE) sells AI software products and works with enterprises as a long-term partner to design, develops, and operates edge AI systems successfully at scale.

Edge AI systems process information, extract insights and make decisions autonomously on-site at the edge. By scaling out and operationalising edge AI, the UK company helps organisations use AI to have a real impact in the world.

Aiming to create Networked AI

According to the company, delivering edge AI at scale is just the first step, however, it aims to create Networked AI. Currently, much of what AI does needs to be translated so that humans can understand it and make decisions based on what the AI says. 

The Networked AI is AI-to-AI communication, removing the need for the human element and thereby speeding up the decision-making and action process.

Warner, the company’s CEO, said “By scaling edge AI, optimising the endpoints collecting the data, and making models more resilient, we are radically accelerating learning and, in doing so, giving our customers a competitive advantage in a crowded marketplace.”

Warner continued, “Networked AI will change the way the world works. All the potential benefits of AI are limited, while we need to involve humans in the majority of the decisions. Edge AI is the first step towards speeding up that process, by having AI at the endpoint to rapidly collect, analyse and determine action based on data. Networked AI will take that and apply it across all aspects of an organisation, freeing up workers to focus on more value-adding activities.”

Reilly Brennan, General Partner at Trucks, said, “For automated vehicles to go mainstream we need edge AI to not just work, but to work at scale. LGN’s commitment to enabling resilient models that can be deployed at a fleet level is going to be critical to realising the vision so many are moving towards.”

Sebastian Peck, Managing Director at InMotion Ventures, Jaguar Land Rover’s venture capital arm, said, “Autonomous cars represent a major innovation with the potential to revolutionise how people travel and its impact on the environment. To realise it we need to create more robust systems. LGN’s technology enables AI systems training at a scale which is critical for real-world progress.”

Claudio Simao, CEO and President, Hexagon Asia Pacific and Hexagon South America at Hexagon, the autonomous sensors leader, said, “We’re seeing an explosion of sensors that, if used correctly, could automate so much of life today. LGN’s work offers that link and has the potential to transform to many different sectors for the better.”

John Taysom, serial investor and Co-Founder of data privacy experts Privitar, said, “Better sensors deliver better services, but sensors themselves are small with limited power, so the network they sit on will be critical and often noisy. LGN addresses this architectural problem for machine learning deployments.”

Lomax Ward, Co-Founder and General Partner at Luminous Ventures said, “LGN’s blend of academic knowledge, industry research and focus on the commercial application is exactly what we believe is needed to not only help businesses rapidly scale edge AI deployments but to invent Networked AI and revolutionise how we all live and work.”

The post UK startup LGN secures £1.4M for rethinking AI for business resilience appeared first on UKTN (UK Tech News).

Related posts

UK biotech Immunocore announces pricing of upsized IPO; secures £200M in NASDAQ offering

AEA3

Storage analytics: How AI helps storage management

AEA3

How the pandemic has affected women in the tech sector

AEA3

Your ads here. Click here