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Betaworks goes all-in on augmentative AI in latest camp cohort: 'We're rabidly interested' | TechCrunch

Aug 30, 2023 - news.bensbites.co
Betaworks, a firm known for investing in artificial intelligence (AI) and machine learning (ML), has shown increased confidence in the field through its latest Camp “thematic accelerator” cohort. The firm's CEO, John Borthwick, revealed that this year's Camp had twice the applicants as the previous year, indicating a growing interest in AI and ML. Betaworks has been investing in these technologies since 2016, focusing on their potential to augment human workflows and behaviors.

The firm has selected 12 companies for this year's cohort, each of which will receive $500,000 in funding. These companies are using AI to enhance existing processes rather than create entirely new ones. They range from Armilla Assurance, which assesses the quality of AI systems and offers insurance against performance failures, to Waverly, a social network that uses AI to "remix" ideas. Betaworks has also brought in three co-investors this year: Greycroft, Differential, and Mozilla.

Key takeaways:

  • Betaworks has invested in 12 companies as part of their Camp “thematic accelerator”, indicating a strong belief in the future of AI and machine learning.
  • Founder and CEO John Borthwick believes that AI will play a significant role in augmenting human workflows and behaviors in the next 2-3 years.
  • Betaworks has been investing in AI and ML since 2016, focusing on the intersection of ML and different modalities like audio and synthetic media.
  • The selected companies are using AI to improve existing processes rather than creating entirely new products, and each will receive $500,000 in funding.
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