Spare5, the company that paid its users in return for developing companies’ artificial intelligence(AI) has been relaunched today as Mighty AI. The company has also announced a new $14 million round led by Intel Capital. The round also saw participation from Accenture Ventures and GV (Google Ventures).
Spare5’s previous investors, including Foundry Group, Madrona Venture Group, and New Enterprise Associates (NEA), also participated in the round.
Spare5 Mighty AI, was originally launched in 2014 and collaborated with some big names like IBM, Pinterest and Microsoft. These companies provided the former with “tasks” which was eventually transfered to everyday smartphone users who were paid in exchange. The tasks involved photo tagging, price tagging, landscape guessing and analyzing sentiments. By involving humans into the task, these big corporations could improve their own in-house AIs.
Apart from the re-branding and funding, Mighty AI has also sealed deals with Intel and Accenture, who will work to support Mighty AI and help in selling its “training data as a service” (TDaaS) offering, to their own customers around the world.
Mighty AI has already received around $13 million in funding, and these new cash injection are sure to uplift its TDaaS platform. The platform could prove to be very helpful for data scientists, engineers, and sales specialists.
AI is a growing market and has influenced almost all aspects of the society. But even though artificial intelligences are super intelligent and ace at every thing they dive into, they still need someone to teach them some humanity — or rather, the human way of thinking. Its for this reason that ventures like Mighty AI could be very revolutionizing, considering that the common man — who is often the ideal model — is shaping an AI.
Speaking about the future of the company, Mighty AI CEO and founder Matt Bencke said;
In the future, we will count on AI to make every aspect of our lives better. AI will manage our information, schedules and energy use. It will make our factories, roads and homes safer and more efficient. It will provide us each with a personal shopper and investment advisor. But, for AI models to do all this and more, they need to understand what and how we think. Mighty AI is the critical link between computer and human cognition, putting the right humans in the right learning loops.