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Reading: LocalGlobe invests in an AI start-up as an early TransferWise backer.
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Baner Club > Blog > Business > LocalGlobe invests in an AI start-up as an early TransferWise backer.
BusinessTechnology

LocalGlobe invests in an AI start-up as an early TransferWise backer.

An early supporter of the London-listed foreign exchange app TransferWise is putting money into an artificial intelligence start-up that seeks to offer creators of intellectual property greater control over the uses of their creations.

Last updated: 2024/06/03 at 12:33 PM
Published June 3, 2024
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The London-based business, which debuted in April, will utilize the additional funds to expand its staff and marketing capacity.

James Smith and Jack Galilee founded it.

Rights-holders can use Human Native AI’s marketplace to make their licensed data available for AI developers to use for model training. Reach, the publisher of The Daily Mirror, and Mumsnet are just two of the companies that have joined up as customers.

Data owners are able to control who can access their data and for what reasons after registering on the site.

The current environment is made up of a disorganized patchwork of court cases, one-off collaborations, and drawn-out opt-out legal procedures that are difficult to administer and burdensome.

“High-quality data is fundamental to progress in AI, so we need to make it easier for AI developers to fairly and responsibly acquire it,” said Mr. Smith.
e”We created Human Native AI to help scale time-intensive licensing negotiations that are currently done on a case-by-case basis, and give more control and fair compensation to rights-holders.”

It is understood by ws that Human Native AI will declare this week that it has raised over £3 million from investors, primarily LocalGlobe and Mercuri.

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