Quantexa commits to AI with $155M investment and new agnostic large language model

Decision intelligence startup Quantexa Ltd. 9 July 2023 announced that it plans to invest more than $155 million in the global artificial intelligence industry in the next 3 years

Quantexa commits to AI with $155M investment and new agnostic large language model

Decision intelligence startup Quantexa Ltd. It has announced (9th July 2023) plans to invest more than $155 million in the global artificial intelligence industry over the next 3 years.

The seven-year-old company also previewed its investment plans as well as its generative AI technology, Q Assist.

Quantexa began as a provider of artificial intelligence-based fraud detection tools for the financial services industry, but recently rebranded itself as a "decisional intelligence" platform and expanded into industries such as insurance, telecommunications, healthcare and the public sector. Its platform uses a machine learning-based approach to search corporate data for signals indicating possible fraud, money laundering and other illicit activities.

Its new Q Assist platform is a large language model agnostic that enables analysts to query Quantexa platforms with natural language queries, enhanced entity resolution, graph analytics and scoring capabilities.

According to the company, the product breaks new ground in decision intelligence by enabling analysts to efficiently navigate large amounts of data using natural language. It claims that AI can increase assistant efficiency, allowing even relatively inexperienced analysts to reach the productivity levels of experienced researchers.

The agnostic nature of Q Assist is also notable as it does not restrict users to a specific LLM but works with existing models such as OpenAI LP's ChatGPT. Its ease of working with existing models is claimed to be a powerful tool for widening its scope of use and applicability.

In an example use case highlighted by Quantexa, Q Assist was tasked with a financial crime investigation scenario. It leverages its ability to leverage natural language queries for large-scale examination of structured and unstructured data, showing how complex data associated with graph analytics and alerts can be made more accessible even to junior analysts.

The demo highlighted the ability to automate the generation of "suspicious activity reports" and investigative summaries, showing the potential for significant improvements in efficiency and productivity.

Quantexa says its investment in the AI industry and the launch of Q Assist is part of its broader vision to advance the use of AI in decision-making across various sectors. "While many companies are talking about AI and machine learning, we have invested in it since our inception," founder and chief executive Vishal Maria said in a statement. "We are investing our time, money and resources into the biggest technological breakthrough in generations because it will change how organizations make decisions."

Quantexa last made headlines in April when it raised $129 million in funding at a $1.8 billion valuation. Investors in the company include Warburg Pincus LLC, Dawn Capital LLP, British Patient Capital Limited, Evolution Equity Partners LLC, HSBC Holdings plc, BNY Mellon Corp., ABN AMRO Bank N.V. And there are Albion VC..

-- Siliconangle

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