Beyond Limits’ artificial intelligence for industry use
Beyond Limits is a Los Angeles, California-based company creating AI solutions for industries such as energy, utilities and healthcare.
The company says its approach combines existing human knowledge with data sources, so that its systems can adapt in situations where data is missing.
Beyond limits also says its Cognitive AI technology involves the use of both conventional techniques such as machine learning, neural networks and deep learning alongside knowledge-based reasoning to make solutions with audit trails that can explain the reasoning behind autonomous decisions - with crucial industries such as healthcare, that accountability being an ethical necessity.
Since its foundation in 2014, the company has raised almost $160mn across three funding rounds. Its latest Series C, announced this week, saw the company raise $133mn from lead investors Group 42 and BP Ventures.
In a press release, AJ Abdallat, CEO and Founder of Beyond Limits, said: ““Today we are seeing unprecedented, world-wide demand for systems that go beyond the limitations of conventional AI. Our cognitive software has the ability to understand situations and place problems in real-world contexts as well as to learn over time. We’re excited to help more customers by applying our unique and powerful AI approach to solve some of the toughest problems facing industries and the world today.”
The company said it would use the funding for research and development, and to expand in the United States and Globally, with a launch in Asia planned.
“bp ventures was established to identify and invest in high-potential, game-changing technology companies that can help us reimagine our global energy system,” said Morag Watson, Senior Vice President, Digital Science and Engineering at bp. “With this additional investment, we believe that Beyond Limits’ Cognitive AI could help create a more intelligent and sustainable future for the energy sector and indeed across industry as a whole.”
