London-based LGN is a startup that helps organisations get AI out of the lab and into the real world by operating and scaling out resilient edge AI systems. In a recent development, the startup has announced that it has raised $2M (approx €1.68M) in a fresh round of funding from investors including Trucks Venture Capital, Luminous Ventures, and Jaguar Land Rover.
The raised capital will enable the company to continue supporting its mission of getting AI into the real world.
The industry’s pain point
The company says the predicted market for AI might cross the $500B mark by 2024, and more than 50 per cent of enterprise-grade data is also expected to be created and processed outside the data centre or cloud by 2022.
And in the current scenario, most of the companies are analysing data to get actionable insights from it. However, to do that in a way to get a competitive advantage, LGN says they require the ability to deploy AI, specifically at the edge of their networks, and at scale.
LGN’s CEO, Daniel Warner, says, “AI has huge implications for the way businesses operate, yet so much of the modelling is done in carefully controlled test environments. When deployed in real-world situations, anomalies always occur, which disrupts lab-grown models and undermines companies’ efforts to revolutionise how they use autonomous systems effectively.”
LGN is helping organisations to get AI out of the lab and into the real world by operating and scaling out resilient edge AI systems. Edge AI systems process information, extract insights and make decisions autonomously on-site at the edge. “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,” says Warner.
The company says it is building the new paradigm of accelerated parallel learning where edge AI systems can scale out their deployments to thousands or even millions of sensors to rapidly outpace the learning speed of their lab-based competitors.
Warner believes, “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.”
Delivering edge AI at scale is just the first step in LGN’s mission to create Networked AI. Networked AI is an AI-to-AI communication, that removes the need for the human element and thereby speeding up the decision-making and action process.
According to the company, AI needs to be translated so that humans can understand it and make decisions based on what the AI says.
Reilly Brennan, Partner at Trucks, says, “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.”
The company was founded in 2018 by former Apple and BMW executive Daniel Warner; a research Fellow of both Cambridge and Oxford, Dr. Luke Robinson; and Professor Vladimir Čeperić of MIT and the University of Zagreb.
LGN’s clients include leading automotive, agricultural and industrial manufacturing companies.
Call for startups with innovative solutions for the future cities from all over the globe.