Artificial Solutions, a Stockholm, Sweden-based unified natural language development and analytics platform, has raised $15.8m in new funding.
The company didn’t disclose any investors in the round but said the new capital will be used for global growth and expanding its conversational AI platform, Teneo.
Teneo allows business users and developers to collaborate on creating intelligent conversational AI applications that run across 35 languages, multiple platforms and channels in record time.
Artificial Solutions said it has signed a number of new contracts in the automobile, energy, entertainment, financial and telecom sectors and multiple strategic partnerships with global service companies including Accenture, KPMG, Cognizant, Wipro and Puplicis.Sapient.
Demand for enterprise-strength conversational AI technology that delivers independence from the tech giants and guarantees data ownership is rising fast,” says Lawrence Flynn, CEO of Artificial Solutions. “Teneo fulfills this need while offering enterprises a faster, easier way to develop highly advanced conversational systems that drive customer loyalty, boost revenues and increase profit.”
Teneo claims to be the first artificially intelligent conversational platform to provide strong data-control capabilities to help clients comply GDPR.
GDPR is designed to protect the data and privacy of European citizens and is applicable to any US business that interacts with European citizens. It will has a large-scale impact on how enterprises in the U.S. store and share customer data, which is why the data processes in the Teneo platform have been built to ensure Artificial Solutions’ clients can comply with GDPR.
The conversational AI platform provides businesses with data ownership and the flexibility to self-host on site or use cloud hosting options that can be tailored to security conditions, across multiple geographies and legal requirements. Additionally, the knowledge Teneo gathers is stored in one place which streamlines the querying and interpreting of conversational data, and allows for the easy identification of any personal data and delete it if needed. It is also possible to pseudonymize personal data to enable conversations still to be used for statistical analysis and data insight even when the information has been removed in accordance with the company’s GDPR polices.
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