Key Takeaways:
- Innovative startup Fairly AI provides AI risk management and oversight solutions for top-tier clients worldwide
- New product offering announcement includes two patents pending
- Company has raised over $1.7 USD in pre-seed funding and boasts an impressive executive team
A Growing Need for AI Risk Management
Artificial intelligence (AI) has become an integral part of modern business, offering unparalleled opportunities for innovation and growth. But with this potential comes an increasing need for oversight and risk management. In the midst of this rapidly evolving landscape, one Canadian startup, Fairly AI, has emerged as a leader in the field, providing AI oversight and risk management solutions to some of the largest global organizations, including tier-1 banks, consulting firms, and international standards institutes.
Fairly AI: The Guardian of Ethical AI
Fairly AI is a cutting-edge startup that focuses on AI safety and oversight, ensuring that companies can continue to innovate with AI while keeping it safe and ethical. With two patent-pending technologies under its belt, the company is poised to revolutionize the way organizations manage and mitigate risks associated with AI applications.
New Product Offering to Empower Safe Adoption of Generative AI for Enterprise
The company conducted three pilots last year to establish itself as an authority in the field and demonstrate its commitment to innovation. With a product that was co-designed with the needs of large enterprise customers in mind, Fairly is announcing support for generative AI. This new offering combines the proprietary technology of the Fairly AI platform with the urgent need to put guardrails in place for generative AI. The Fairly platform turns traditional oversight and QA processes into one that adapts to the probabilistic nature of AI at a fraction of the costs by extending proven model risk management methodologies to AI/ML. Model risk management is necessary for organizations adopting OpenAI’s ChatGPT, Nvidia’s NeMo, Google’s Bard and any similar generative AI LLM models.
Quote from CEO and co-founder David Van Bruwaene: “We believe that the true potential of AI can only be realised when we ensure it’s developed and deployed responsibly. At Fairly AI, our mission is to enable organizations to innovate with AI safely, ethically, and transparently. We are proud of our team’s diverse expertise and our growing global partnerships, which have positioned us at the forefront of AI risk management and oversight. As the demand and adoption for AI solutions continues to rise, we are committed to empowering companies to harness the power of these AI solutions while safeguarding their use for the betterment of society.”
New Partnerships
In addition to its new product offering announcement, Fairly AI has recently revealed a new partnership with the Standards Council of Canada (SCC) to deliver ISO standards through the Fairly AI platform. Moreover, customers can purchase the Fairly AI platform through the Microsoft Cloud Partnership program on Azure Marketplace, further solidifying its status as a leader in enterprise AI risk management.
A Strong Foundation: $1.7M USD in Pre-Seed Funding
With over $1.7M USD in pre-seed funding raised from investors in Silicon Valley, Seattle, Los Angeles, and Toronto, Fairly AI is well-positioned to continue growing and expanding its offerings. This financial backing demonstrates the confidence investors have in the company’s mission and potential.
“The speed of AI innovation is outpacing risk and compliance. Never before have human decisions, jobs and tasks been replaced by AI at the current pace and scale. AI mistakes pose unprecedented risks. Manual oversight and traditional QA processes just can’t keep up any more. We believe Fairly is the best team to execute on a new paradigm that is needed to provide assurance for AI,” says Heather Redman, Managing Partner, Flying Fish Partners – an Seattle-based investor in applied and AI/ML platform startups founded by ex-Microsoft AI and industry experts who led Fairly’s pre-seed round.
A Stellar Executive Team
Fairly AI’s success can be attributed in large part to its exceptional executive team. Co-Founder and CEO David Van Bruwaene, who studied and taught ethics and logic at Cornell, Berkeley, and the University of Waterloo, has firsthand experience with AI safety and oversight issues. His background as head of data science and CEO of child safety AI startup VISR, which was acquired, gives him a unique perspective on the challenges and opportunities in the AI space.
Co-Founder and COO Fion Lee-Madan was recently recognized with the Globe and Mail Top 50 Best Executive Award in Canada and represented Canadian Women in Tech on a trade mission to the UK with the Canadian Minister of International Trade, Export Promotion, Small Business & Economic Development, The Honourable Mary Ng. Her experience living, working and raising children Internationally in the last 20 years fuels her deeply serious commitment to support the fair and responsible use of technology.
The rest of the executive team includes a VP of Sales and Partnerships from Hootsuite, a 2x technical achievement award recipient (the highest technical award) from IBM as Director of Software Engineering, and a Director of Global AI Compliance Engineering who chose to join Fairly AI’s mission instead of practicing law as a JD.
The Future of AI Safety and Oversight
As AI continues to permeate every aspect of modern business, the need for effective risk management and oversight will only grow more critical. Fairly AI’s innovative solutions, combined with its impressive team and financial backing, make it a trailblazer in the field of AI safety and oversight. Organizations looking to stay ahead of the curve and ensure their AI initiatives remain safe, ethical, and compliant should look no further than Fairly AI.
A Competitive Advantage: Safe AI Innovation
In today’s fast-paced business world, companies that can safely and responsibly harness the power of AI will undoubtedly have a competitive edge. By partnering with Fairly AI, organizations can confidently innovate with generative AI, knowing that they have the support of an industry leader in AI risk management and oversight.
The Power of Collaboration: Fairly AI and Global Organizations
Fairly AI’s growing partnerships with international organizations demonstrate the company’s commitment to fostering collaboration and promoting AI safety on a global scale. By working together, these organizations can create a safer, more responsible environment for AI innovation, enabling businesses to thrive while minimizing potential risks.
Expanding AI Safety Education and Awareness
As more and more companies integrate AI into their operations, it’s essential to prioritize AI safety education and awareness. Fairly AI’s executive team, with its diverse background in ethics, logic, and applied AI, is ideally suited to lead this charge. By sharing their knowledge and expertise, they can help companies navigate the complex world of AI safety and oversight, ensuring that businesses can continue to innovate while remaining responsible and ethical.
Conclusion: A New Era of AI Innovation
With its cutting-edge solutions, strong financial backing, and an all-star executive team, Fairly AI is ushering in a new era of AI innovation—one where businesses can fully harness the potential of AI while maintaining safety, ethics, and compliance. As the demand for AI risk management and oversight continues to grow, there’s no doubt that Fairly AI will play a crucial role in shaping the future of AI and, by extension, the future of business. Don’t miss out on the opportunity to partner with a company that’s changing the game in AI safety and oversight.
About Fairly AI
Fairly AI is on a mission to democratize safe, secure, and speedy AI across the enterprise. The Fairly AI Oversight and Risk Management Platform™ delivers Fast AI with Assurance, Integrity, and Reliability. Fairly’s platform enables technology and policy experts to connect and collaborate, bridging the AI oversight gap seamlessly by making it easy to apply policies and controls throughout the model lifecycle.
For more information, visit www.fairly.ai.
Contact:
- Colleen Carter
- VP of Sales and Partnerships, Fairly AI
- [email protected]
Looking to amplify your brand’s impact in Canada’s thriving startup and investment sector? Join the league of innovators, leaders, and decision-makers making a difference through Canada Venture News. Engage with our audience of startup founders, investors, and executives through sponsored articles and partnerships. Discover more on our Promotion & Sponsored Articles page or email us directly at [email protected]. Let’s shape your story together.
