UK start-up LGN has secured $2m in funding to help businesses outpace their competition by building better and more resilient AI models, faster and at scale.
With backing from the likes of Trucks Venture Capital, Luminous Ventures and Jaguar Land Rover, LGN supports enterprises to scale out their use of edge AI and accelerate learning in the real world, rather than in labs and test environments. The company will use the investment to continue its mission of getting AI into the real world.
With spending on AI predicted to break the $500bn mark by 2024, and more than 50% of enterprise-grade data expected to be created and processed outside the data centre or cloud by 2022, businesses are in the midst of a major shift in where and how they can analyse data and derive actionable insights from it.
Yet to do that in a way that gives a clear competitive advantage requires the ability to deploy AI, specifically at the edge of their networks, and at scale. LGN supports companies operating in a variety of sectors to realise the benefits of having thousands of endpoints collecting data by getting autonomous systems into the real world, learning and iterating from actual data, rather than testing models in labs.
Founded in 2018 by former Apple and BMW executive Daniel Warner, Oxbridge research fellow Dr Luke Robinson and Professor Vladimir Čeperić of MIT and the University of Zagreb, LGN’s customer base includes leading automotive, agricultural and industrial manufacturing multinationals.
Warner, the company’s CEO, said: “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. 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.”