With artificial intelligence moving at the speed of light, it’s the right time for KPMG to turn its AI division into an independent company.
Developed nearly two years ago in the company’s incubator division, Cranium spun out of the conglomerate for the first time on Wednesday to take advantage of rapid advances in AI.
“I feel like the last six months have gone by so fast, mainly thanks to things like ChatGPT and generative AI and ML. [machine learning] technology,” Cranium founder and CEO Jonathan Dumblot told FOX Business.
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Dambrot and the KPMG team behind Cranium, which powers AI security, realized they could meet the needs of more clients under KPMG’s direction.
“It is one of the only technologies in existence today designed to protect AI systems and secure systems. So this is needed in the market and clients need it too. We have an interest in building service, compliance and security services around this kind of technology,” explains Cliff Justice, his lead for KPMG’s Enterprise Innovation Division, US National.
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Cranium reflects its name in the human cranium, the skull that protects the brain, and counts financial services, life sciences, and consumer goods companies among its largest customers.
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Tech giants such as Google, Amazon, and Microsoft are also stepping up their AI pushes and can work with Cranium.
“We already have a relationship with them, and what we have done is integrate them into our platform. We can integrate it into our system, which is very close to our pipeline.
The company has secured a new round of seed funding with venture capital firm CYN Ventures, and is planning its next round or Series A later this year. There is currently no possibility of an initial public offering.
The company employs 30 staff, dubbed “brains”, focused on building the business and voicing opinions within the industry, including on future regulation, as AI continues to advance rapidly. We are hiring.
last week, Elon MuskApple co-founder Steve Wozniak, and many other tech leaders and artificial intelligence experts called on the AI Lab to pause development in an open letter citing potential risks to society. I was.
“Powerful AI systems should only be developed when we are convinced that their effects are positive and the risks manageable,” publishes Musk-funded organization Future of Life Institute. The letter said:
Tesla CEO Musk is using AI for self-driving cars. He also owns Twitter, SpaceX, and his The Boring Company, developer of an underground tunnel transportation system.
