London-based edge AI firm LGN raises $2 million

London-based edge AI firm LGN raises $2 million

Edge AI firm LGN has raised $2 million in funding in order to help clients beat their competitors to the punch when it comes to better and more resilient AT models.

Investors include Trucks Venture Capital, Luminous Ventures, and Jaguar Land Rover.

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, LNG’s offerings support enterprise clients with scaling out the usage of edge AI, Through the usage of edge AI, machine learning is accelerated in the real world, as opposed to labs and simulated test environments.

According to IDC, AI spending is on track to be well over $500 billion by 2024, with 50% of enterprise grade data created and processed outside a data centre or cloud by 2022. With this in mind, industries are in the midst of a major shift in where and how they can derive actionable insights from the collected data. And in order to gain a competitive advantage, employing edge AI at scale is key.

LGN’s solution is to provide thousands of data endpoints by getting autonomous systems out in the real world, learning and iterating from real world data, as opposed to testing model after model in lab conditions.

“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,” comments CEO Warner.

But real-world data in real-world situations for a competitive advantage is only one half of LGN’s overall plan. With more and more data endpoints in the field, the firm is also angling to establish a networked AI infrastructure. That is, currently much of the data that is gathered with edge AI then has to be interpreted by a human being. If LGN has their way, the human will be removed completely from the equation via AI-to-AI communication.

“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,” says Warner.

“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 valued- adding activities.”

And I’m just going to put this here in writing right now, I for one, welcome our new overlords. 😉

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