Illumex Revolutionizes Structured Data for Generative AI
June 28, 2024, 3:33 pm
Illumex Technologies Inc. secures $13 million in funding to enhance structured data for generative AI, addressing challenges and adding semantic meaning and context.
Big-data readiness startup Illumex Technologies Inc. has closed a $13 million seed funding round, led by Cardumen Capital, Amdocs Ventures, and Samsung Ventures, among others. Illumex aims to tackle the struggles associated with structured data, making it more accessible and meaningful for generative AI models.
Generative AI technology has seen a surge in adoption by large enterprises, with McKinsey reporting that over two-thirds have already implemented some form of generative AI. However, concerns persist regarding the accuracy and risks of AI "hallucinations," where models generate inaccurate responses.
One solution to combat these issues is retrieval-augmented generation (RAG), which allows companies to provide proprietary data to their AI models. But integrating RAG, especially with structured data, poses challenges such as manual maintenance and lack of semantic meaning.
Illumex steps in to automate the creation of a semantic layer that unifies structured data silos, adding business context and generating a consistent library of domain-specific terminology. By doing so, Illumex aims to make structured information easier for large language models to interpret.
The company's "Generative Semantic Fabric" aligns organizational data with business meaning and domain-specific context, enabling enterprises to trust the results of their AI initiatives. Illumex's platform automatically discovers, maps, and adds semantic meaning to structured data, creating a unified semantic knowledge graph as a single source of truth.
Founder and CEO Inna Tokarev Sela emphasizes the importance of solving fundamental challenges around structured data for the success of generative AI projects. Illumex has already attracted notable enterprise customers like Teva Pharmaceutical Industries Ltd. and Carson Optical Inc., as well as partnerships with major cloud infrastructure providers.
Cardumen Capital's Gonzalo Martinez de Azagra highlights the critical role of generative AI in complex and regulated industries, where balancing innovation with data governance is essential. Illumex bridges this gap, enabling enterprises to maximize the GenAI opportunity while ensuring data integrity and trustworthiness.
In conclusion, Illumex's innovative approach to structured data for generative AI promises to revolutionize how organizations leverage AI technology, empowering them to make better decisions and drive business value.
Big-data readiness startup Illumex Technologies Inc. has closed a $13 million seed funding round, led by Cardumen Capital, Amdocs Ventures, and Samsung Ventures, among others. Illumex aims to tackle the struggles associated with structured data, making it more accessible and meaningful for generative AI models.
Generative AI technology has seen a surge in adoption by large enterprises, with McKinsey reporting that over two-thirds have already implemented some form of generative AI. However, concerns persist regarding the accuracy and risks of AI "hallucinations," where models generate inaccurate responses.
One solution to combat these issues is retrieval-augmented generation (RAG), which allows companies to provide proprietary data to their AI models. But integrating RAG, especially with structured data, poses challenges such as manual maintenance and lack of semantic meaning.
Illumex steps in to automate the creation of a semantic layer that unifies structured data silos, adding business context and generating a consistent library of domain-specific terminology. By doing so, Illumex aims to make structured information easier for large language models to interpret.
The company's "Generative Semantic Fabric" aligns organizational data with business meaning and domain-specific context, enabling enterprises to trust the results of their AI initiatives. Illumex's platform automatically discovers, maps, and adds semantic meaning to structured data, creating a unified semantic knowledge graph as a single source of truth.
Founder and CEO Inna Tokarev Sela emphasizes the importance of solving fundamental challenges around structured data for the success of generative AI projects. Illumex has already attracted notable enterprise customers like Teva Pharmaceutical Industries Ltd. and Carson Optical Inc., as well as partnerships with major cloud infrastructure providers.
Cardumen Capital's Gonzalo Martinez de Azagra highlights the critical role of generative AI in complex and regulated industries, where balancing innovation with data governance is essential. Illumex bridges this gap, enabling enterprises to maximize the GenAI opportunity while ensuring data integrity and trustworthiness.
In conclusion, Illumex's innovative approach to structured data for generative AI promises to revolutionize how organizations leverage AI technology, empowering them to make better decisions and drive business value.