Summary:
Kiva AI raises $7 million in seed funding led by CoinFund.
Focuses on specialized AI applications in sectors like healthcare and finance.
Human-in-the-loop approach ensures expert oversight in high-stakes scenarios.
Offers global opportunities for experts to supplement their income.
Utilizes cryptocurrency to provide higher compensation while reducing costs.
Kiva AI: Bridging the Gap Between AI and Human Expertise
Kiva AI, a pioneering service focused on developing specialized AI applications, has recently secured a $7 million seed round led by CoinFund, a prominent crypto-focused venture capital firm.
The Vision of Kiva AI
Ahmed Rashad, the CEO and founder, envisions Kiva AI as a vital link between sectors like healthcare, finance, and law and the AI technology that can enhance them. He emphasizes that as AI models expand and tackle more intricate fields, obtaining high-quality, reliable data becomes crucial for achieving accurate and efficient outcomes.
“We build foundational models that are highly specialized in areas such as medical, dental, legal, finance … that allow companies to build their AI applications using software and tools and services that are highly specialized for their use case,” Rashad stated. This approach enables businesses to develop their AI applications faster and more accurately, reducing costs significantly.
Human-in-the-Loop Approach
Kiva AI adopts a human-in-the-loop strategy, ensuring that a subject matter expert always has the final say, particularly in high-risk scenarios such as medical diagnostics and legal document assessments.
A Global Initiative
Rashad highlights Kiva AI's global reach, having recruited experts from various countries including the United States, Egypt, Argentina, and Venezuela. He explains, “We are going in and creating opportunities for highly skilled people to be able to earn a very, very good living.” This side hustle allows professionals to supplement their income while maintaining their primary careers.
The Crypto Advantage
Rashad chose to partner with CoinFund due to their alignment with his core principles. He believes that using cryptocurrency as compensation is beneficial for experts outside the U.S., stating, “It’s higher value for the expert, and it’s way cheaper for us, which is a win-win.” This model enables Kiva AI to pay experts more while maintaining higher margins.
Future Plans
With the recent funding, Rashad aims to hire skilled engineers to enhance Kiva AI's offerings. “Our hyper focus is on high-quality human engagements from the beginning. This cannot be done from ivory towers,” he concludes.
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