The rapidly advancing field of AI is facing increased scrutiny and potential regulation from governments around the world. Recognizing the need to address this issue, Citrusx, an early-stage startup based in Israel, has secured a $4.5 million seed investment to develop a software service that helps companies ensure compliance with both internal policies and external regulations concerning AI.
Key Takeaway
Citrusx, an Israeli startup, has raised $4.5 million in funding to develop a software service that assists companies in ensuring compliance of their AI models with both internal rules and external regulations. The company aims to streamline the process of taking AI models into production, focusing on verification, relevance, and accountability. Citrusx offers a flexible and agnostic approach to accommodate various AI models and adapt to changing techniques. With a commitment to diversity, Citrusx fosters an inclusive work environment under the leadership of its CEO, Noa Srebrnik.
Building Trust and Accountability
Citrusx aims to tackle the time-consuming process of taking AI models from development to production. According to Noa Srebrnik, the co-founder and CEO of Citrusx, it can often take several months to bring an AI model into production and transform it into a functional service. To expedite this process, Citrusx focuses on creating a product that verifies the proper functioning of AI models, ensuring their reliability and accountability.
One crucial aspect is ensuring that AI models remain relevant by continuously updating them with the latest data. Additionally, model creators must be able to explain the workings of the model to internal stakeholders and regulators, building trust in the results produced.
Addressing Compliance Needs
Noa Srebrnik’s background in compliance at the Bank of Israel led her to recognize the widespread need for a tool that ensures AI models comply with regulations. As generative AI grows in popularity, this need becomes even more pronounced. Citrusx was designed to be flexible enough to adapt to different AI models, including new approaches like ChatGPT, without requiring significant changes to its underlying techniques.
By adopting an agnostic approach, Citrusx enables businesses to compare and evaluate various models, streamlining the compliance process in different scenarios.
Emphasis on Diversity
Srebrnik, as a woman CEO, emphasizes the importance of building a diverse workforce. She actively engages with employees, participating in calls and fostering a comfortable and inclusive work environment for women and individuals from underrepresented groups.
Conclusion
Citrusx’s $4.5 million seed investment, led by Canadian venture firm Awz with participation from angel investors, highlights the growing importance of compliance and accountability in the AI industry. As AI regulation looms, Citrusx aims to address the challenges associated with bringing AI models into production while ensuring compliance with regulations. With its focus on trust, reliability, and adaptability, Citrusx seeks to assist companies in navigating the complexities of AI compliance.
