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SANTA BARBARA, Calif., Jan. 11, 2017 /PRNewswire/ -- CB Insights today selected CognitiveScale, a provider of industry-specific machine intelligence software, to the prestigious Artificial Intelligence 100 list ("AI 100"), a select group of emerging private companies working on ground breaking artificial intelligence technology. CB Insights CEO and co-founder, Anand Sanwal, revealed the winners during The Innovation Summit, a gathering of top executives and investors to explore the industries of the future.

"We are delighted to see CognitiveScale recognized as an AI pioneer," said Akshay Sabhikhi, CEO of CognitiveScale. "Our machine intelligence powered products emulate human cognitive abilities in software to help businesses make sense from messy, disparate first- and third-party data and engage a human being at the right time with the right evidence to achieve an optimal outcome and experience," he added.

The CB Insights research team selected the AI 100 winners based on a combination of data submitted by the companies, responses to interview questions and the company's Mosaic Score. Mosaic is an algorithm built with funding from the National Science Foundation that gives predictive intelligence into the health of private companies.

"From financial services to healthcare to transport, incumbent companies in every industry are seeing that AI will reshape their industries. And as so often happens, transformational innovation comes from emerging companies. In the case of AI, a lot of the groundbreaking work is being done by the AI 100. The companies in the AI 100 are accelerating research, improving efficiency, and making many game-changing advancements that will be felt for decades to come," CB Insights CEO Anand Sanwal said.

Quick facts on the AI 100:

• In total, these 100 emerging private companies have raised $3.8B across 263 deals since 2012, according to CB Insights.
• Applications of their technology include breakthroughs in healthcare, drug discovery, business intelligence, gaming, manufacturing, and much more.
• More than 1,650 companies were nominated or applied for the AI 100 (only 6% were selected).
• Data Collective has backed 14 of the AI 100 companies, while NEA backed 8 and Bloomberg Beta backed 7.
• There have been 9 mega-rounds (funding rounds of $100M or more) to AI 100 companies since 2014.
• Five AI 100 companies have reached a valuation of $1B or more (also known as unicorn status).
• 11 countries are represented among the winners.

CognitiveScale builds enterprise-scale augmented machine intelligence software for leading healthcare, commerce, and financial services organizations. The company's products—Engage and Amplify—help large enterprises transform customer engagement, improve decision-making, and deploy self-learning and self-assuring business processes.  

The company's proprietary technology includes an open augmented intelligence platform that emulates human like cognitive abilities in software such as memory and sequencing, perception, anticipation, problem-solving, and decision-making.  The company has successfully deployed its software at leading companies globally and has delivered business value rapidly using its unique 10-10-10 method that helps businesses model their first cognitive system in 10 hours, customize it using their own data in 10 days, and go live within 10 weeks.  

The AI 100 Winners:

About CB Insights

Our team comes to work every day to build technology that helps corporations guess less and win more. We aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace the three Gs (Google searches, gut instinct and guys with MBAs*) so they can answer massive strategic questions using probability not punditry.

With backing from the National Science Foundation and venture capital investors, we mine terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, and more. Our software algorithmically analyzes this data to help our clients see where the world is going tomorrow, today.

*We have MBAs.

About The Innovation Summit

From voice and chat interfaces to AI replacing investment managers and doctors to the new revenue models enabled by the Industrial Internet of Things, the Innovation Summit marries CB Insights' emerging trend research with the thinking of the world's smartest minds - leading VCs, economists, researchers and corporate strategists.

For more information about the AI 100, visit:
https://www.cbinsights.com/research-ai-100

To learn more about CB Insights' Innovation Summit, go here:
http://events.cbinsights.com/corp-innovation-2017

About CognitiveScale

CognitiveScale builds enterprise-scale augmented machine intelligence software for healthcare, commerce, and financial services markets. The company's products— Engage and Amplify—help large enterprises increase customer engagement, improve decision-making, and deliver self-learning and self-assuring business processes. CognitiveScale has successfully deployed its software with multiple Global 500 companies and has formed strategic go-to-market and technology partnerships with IBM, Microsoft, and Deloitte.

CognitiveScale was founded in 2013 by highly successful serial entrepreneurs and senior executives from IBM Watson, Oracle, and Salesforce with deep expertise in vertical enterprise software, cloud computing, and machine learning. The company has won numerous awards and featured in prominent research and publications. It is headquartered in Austin, Texas, with offices in the United Kingdom and India. Investors include Norwest Venture Partners, Intel Capital, IBM Watson, and Microsoft Ventures.

For more information on the company, please visit us at cognitivescale.com and follow @cognitivescale on Facebook, Twitter and LinkedIn.

SOURCE CognitiveScale