Kiva AI, a service designed to develop specialized AI applications by employing human experts to label large data sets, is a service developed by Coinfund, a venture capital firm specializing in cryptocurrencies. Closed a $7 million seed round led by
CEO and founder Ahmed Rashad sees Kiva AI as a bridge between industries that could benefit from AI software, such as healthcare, finance, and law, and AI itself. In an interview with Fortune, he said that as AI models grow larger and move into a variety of complex fields, high-quality, reliable data is essential for the technology to produce accurate and efficient results. I insisted.
“We are building foundational models that are highly specialized for areas such as medical, dental, legal, and financial, allowing companies to use software, tools, and services that are highly specific to their use cases. and build AI applications,” said Rashad. “This allows us to develop AI applications faster, more accurately, with fewer iterations, and at lower cost.”
Kiva AI takes a human-involved approach, ensuring that subject matter experts always make the final decision, especially in high-risk situations such as medical diagnosis or legal document analysis.
Rashad said Kiva AI is useful on a global scale and has hired experts from the United States, Egypt, Argentina, and Venezuela.
“We are creating opportunities, coming in, for highly skilled people to be able to earn a very good living and make a good living. I spend several hours there to supplement my income,” Rashad said.
Rashad said he chose to partner with Coinfund because the company aligns with his core principles and ethos. He also expects cryptocurrencies to become an effective way to compensate professionals outside the United States. “It's a higher value for the professionals and a lot less expensive for us. This is a win, win,” Rashad said. “In fact, even with high profit margins, you can very easily afford to pay people more.”
With the funding raised from Coinfund and seed investors including Protagonist, Hashkey, and Peer VC, Rashad hopes to hire a number of talented engineers to build, sell, and deliver his product.
“We've focused on quality relationships from the beginning, and you can't do this from an ivory tower,” Rashad said.
