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Trustwise Launches With $4 Million Round From Hitachi Ventures to Solve Generative AI Safety and Efficiency

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Trustwise Launches With $4 Million Round From Hitachi Ventures to Solve Generative AI Safety and Efficiency
News

News

Trustwise Launches With $4 Million Round From Hitachi Ventures to Solve Generative AI Safety and Efficiency

2024-06-18 15:06 Last Updated At:15:30

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Jun 18, 2024--

Trustwise, a pioneer in generative AI application performance and risk management, today announced its official launch, the release of its Optimize:ai product, and $4 million in seed financing. Led by Hitachi Ventures with participation from Firestreak Ventures and Grit Ventures, this investment will enable the company to speed up the development of cost and risk optimized generative AI prototypes for various industries, accelerate its go-to-market and partnership strategy, and further its research initiatives.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240618089611/en/

Trustwise Optimize:ai is a first-of-its-kind generative AI application performance and risk management solution that provides developers with an API to eliminate risks and reduce the growing costs associated with deploying large language models (LLMs) in high-stakes enterprise environments. By rigorously red teaming and optimizing generative AI workloads using its advanced APIs, datasets, and AI safety and alignment controls, Trustwise safeguards enterprises from potential AI failures and excessive costs. Optimize:ai aligns with major AI standards and regulations, including the European Union AI Act, NIST AI RMF 1.0, Responsible AI Institute RAISE Safety and Alignment Benchmarks, and SCI ISO software carbon intensity standard.

“Enterprise leaders face a double-edged sword in AI strategy: while promising next-level innovation and productivity gains, LLMs also bring significant safety risks, cost burdens, and environmental impacts,” said Gayathri Radhakrishnan, partner at Hitachi Ventures. “Trustwise’s experienced and world-class team is set to provide the much-needed generative AI optimization capabilities that will enable developers to create safe, efficient, and high-performing AI systems."

AI's Risk Trifecta: Skyrocketing Expenses, Carbon Emissions and LLM Vulnerabilities

Generative AI systems too often produce inaccurate results, do not adhere to internal and external policies and regulations, and are costly and energy inefficient, with many instances of companies facing legal repercussions.

"At Trustwise, we understand the challenges enterprises face with generative AI, including safety risks, high costs, and environmental impacts,” said Manoj Saxena, CEO and founder of Trustwise. "For example, compared to a traditional Google search, a ChatGPT query costs around 36 times more, uses 1000 times more energy, and has safety issues like hallucinations and data leakage. After nearly two years of co-development with clients in highly regulated industries, the launch of Optimize:ai makes AI safe, compliant, and economically and environmentally viable."

Trustwise Optimize:ai: The New Standard for GenAI Safety, Cost, and Sustainability

Trustwise Optimize:ai cuts AI costs and risks by up to 15x. In current customer deployments, it achieved 80% reduction in LLM and compute costs, a 64% decrease in carbon footprint, and detected 40% more AI safety and alignment issues than other vendors on the market.

“With Optimize:ai, we’ve developed a cutting-edge optimization solution that not only significantly reduces operational costs and carbon emissions but also enhances the safety and alignment of AI systems,” said Matthew Barker, head of AI research and development at Trustwise. “Our team is dedicated to continuously applying state-of-the-art AI technologies to ensure they are safe, economically and environmentally sustainable, setting new industry standards in the process.”

Optimize:ai is powered by THEO (Trustworthy High Efficiency Optimizer), an optimization foundation model from Trustwise that continuously monitors safety and alignment, performs red teaming, and dynamically selects models for large-scale generative AI operations, supporting diverse AI models and architectures.

Customer Quotes

"We are committed to leveraging AI to enhance customer experiences, streamline operations, and drive strategic decision-making, all while maintaining cost-effectiveness, robust data security, and environmentally conscious practices,” said Dr. Paul Dongha, group head of data and AI ethics at Lloyds Banking. “Trustwise Optimize:ai has demonstrated game-changing capabilities for us by significantly reducing our generative AI operational costs and carbon footprint, and ensuring our AI outputs align with internal business policies, ethical guidelines, and external regulations. Based on the success of early experimental results, we are now considering scaling Optimize:ai across the organization and including it as a key part of our AI assurance framework.”

“In the NHS, we recognize AI's transformative potential to revolutionize patient care and drive operational efficiencies. As we adopt these cutting-edge technologies, we remain committed to the highest standards of data security, cost control, and environmental sustainability,” said Dr. Hatim Abdulhussein, CEO of Health Innovation Kent Surrey Sussex, part of the Health Innovation Network established by NHS England. “Our partnership with Trustwise has demonstrated powerful, safe, and cost-efficient ways to unlock AI’s full benefits while maintaining public trust and confidence.”

"At Lyric, we pride ourselves on being a healthcare technology leader, using machine learning, AI, predictive analytics, and our recently launched 42 platform to help payers unlock greater value while improving payment accuracy and integrity,” said Raj Ronanki, CEO of Lyric. “We understand the vital role of AI trust and safety. Solutions such as those offered by Trustwise are key to driving generative AI adoption in healthcare, ensuring that costs are controlled and compliance risks are minimized.”

Availability

Trustwise Optimize:ai is now generally available. Visit this page to read the company’s technical papers, view product demos, and sign up for a free trial to unlock the potential of safe, cost efficient, and sustainable AI.

Resources

About Trustwise

Trustwise helps organizations innovate confidently and efficiently with generative AI. Its flagship product, Trustwise Optimize:ai, is a first-of-its-kind generative AI application performance and risk management API that performs red teaming and provides a robust AI safety, cost, and risk optimization layer for high-stakes enterprise environments. Trusted by enterprises across various highly regulated industries, Optimize:ai API works with any AI model, supports various cloud, on-premises, and edge architectures, and is capable of handling large-scale generative AI operations and workloads. Founded in 2022 by a successful serial entrepreneur and the first general manager of IBM Watson, Trustwise is backed by leading investors and is headquartered in Austin, Texas, with research labs in Cambridge, UK, and New York.

Trustwise Optimize:ai (Graphic: Business Wire)

Trustwise Optimize:ai (Graphic: Business Wire)

HONG KONG (AP) — A top Chinese university fired a professor on Monday, a day after a graduate student accused him of sexual harassment on social media in a rare public allegation and posted recordings as evidence, drawing widespread support.

The woman, who identified herself as Wang Di, said she is studying in a doctoral program at Renmin University of China’s School of Liberal Arts. She posted a 59-minute video on Sunday on the Weibo social media platform in which she said the professor, an ex-vice dean and former Communist Party representative at the school, physically and verbally abused her.

She also said that for more than two years after she rejected him, he assigned her many tasks, scolded her and threatened that she would not graduate.

She included audio clips which she said were evidence of the harassment. In one, a man could be heard trying to kiss a woman, who kept saying, “No, no, teacher.”

“At this moment, I can no longer endure it and have nowhere to retreat, so I am speaking out,” she wrote. She demanded that the professor be punished and a new supervisor be appointed for her. She wore a mask in the video, but held up an identification card.

In China, public accusations of sexual harassment have become rare in recent years following an uptick during a brief #MeToo movement that was swiftly snuffed out by the government. The ruling Communist Party views powerful social movements as a potential threat to stability and its hold on power.

Her post drew 2.2 million likes as of Monday evening, with many users leaving comments in support of the student.

The professor did not immediately respond to a request for comment.

Renmin University said Monday it concluded that the complaints against the professor were true following an investigation. In addition to sacking him, it also revoked his party membership and reported the incident to authorities in accordance with the law, it said in a statement on Weibo.

It said the academic had “seriously betrayed the original mission of teaching and educating” and that his acts violated party discipline and school rules.

After the university announced its decision, the woman's post on Weibo disappeared.

The Associated Press does not generally name people who say they are victims of sexual harassment unless they publicly identify themselves.

In June, a Chinese journalist who promoted women’s rights as part of the #MeToo movement was sentenced to five years in prison on charges of incitement to subvert state authority, according to her supporters.

In one of the most high-profile cases, former Chinese tennis star Peng Shuai disappeared from public view after accusing former high-level official Zhang Gaoli of sexual assault in 2021. Her accusation was quickly scrubbed from the internet and discussion of it remains heavily censored.

People past near the logo for Renmin University outside the main campus in Beijing, Monday, July 22, 2024. A PhD student at Renmin University, one of the top universities in the country, accused her supervisor, also party secretary and vice dean of School of Liberal Arts of molesting her and taking revenge after being rejected, and threatening not to let her graduate. The university has responded saying it will launch an investigation. (AP Photo/Ng Han Guan)

People past near the logo for Renmin University outside the main campus in Beijing, Monday, July 22, 2024. A PhD student at Renmin University, one of the top universities in the country, accused her supervisor, also party secretary and vice dean of School of Liberal Arts of molesting her and taking revenge after being rejected, and threatening not to let her graduate. The university has responded saying it will launch an investigation. (AP Photo/Ng Han Guan)

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