World’s Top AI Companies Collaborate to Regulate AI, Protect AI Secures $35M, and Trustmi Secures $17M for Its Fraud Prevention Technology
Hello! 🙋We have the following Product updates for you today! 📣
- OpenAI, Google, Microsoft, and Anthropic collaborate to regulate AI development.
- Protect AI raises $35M to build a suite of AI-defending tools.
- Trustmi lands $17M to scale its payments fraud prevention tech.
OpenAI, Google, Microsoft, and Anthropic Collaborate to Regulate AI Development
Four of the leading players in the field of AI. OpenAI, Microsoft, Google, and Anthropic have come together to establish the Frontier Model Forum. This industry body has a mission to ensure the development of AI and machine learning models, known as “frontier AI ” is done safely and responsibly.
OpenAI introduced the term “frontier AI” in a paper released on July 6. It refers to models that come with risks to public safety.
The primary objectives of this forum are as follows;
- Advancing research on ensuring the safety of AI.
- Identifying practices for developing and deploying frontier models.
- Collaborating with stakeholders.
- Supporting applications that tackle challenges.
The establishment of the Frontier Model Forum highlights both the industry’s dedication to addressing safety concerns and the tech giant’s proactive approach to managing regulations through initiatives.
Protect AI Raises $35M to Build a Suite of AI-Defending Tools
Protect AI performs security scans and protects machine learning (ML) and AI systems to deliver secure and compliant machine learning models and artificial intelligence applications. It provides threat visibility, security testing, and remediation of Al and ML systems.
The company has raised a $35M Series A round of funding led by Evolution Equity Partners with participation from Salesforce Ventures and existing investors. To date, the company has raised a total of $48.5M to help organizations protect ML systems and AI applications from unique security vulnerabilities, data breaches, and emerging threats.
Protect AI’s NB Defense secures Jupyter Lab notebooks, enhancing productivity and collaboration. It reduces risks, scans for security issues, and provides valuable insights. AI tools safeguard the ML software supply chain, scanning and fixing elements automatically.
Trustmi Secures $17M to Scale Its Payments Fraud Prevention Tech
Trustmi leverages Artificial Intelligence, Machine Learning, and data to proactively identify and prevent transactions. The platform offers a range of capabilities that enable businesses to strengthen their payment security.
These capabilities include:
- Keeping an eye on payments for any activity, such as transactions involving high-risk countries or payments from unfamiliar vendors.
- Validating payments by cross-checking them against data sources, which include credit card blacklists and vendor compliance lists.
- Empowering users with payment control options that enable them to approve or reject payments while setting limits for particular vendors.
The company has secured $17 million in a Series A round, bringing its total investment to $21 million, led by Cyberstarts with participation from Zeev Ventures.
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