(photo credit: INGIMAGE)
Founded: October 2013 by Sagie Davidovich and Dr. Ron Karidi
: 152Capital Raised
: $35 millionWhy this company is impactful
: While artificial intelligence is becoming mainstream and is used by organizations across the globe to deal with the most complex challenges, SparkBeyond realized that to truly find answers to the complexities of the world, we first have to make sure we are asking the right questions.
Due to our natural cognitive bias as human beings, we are actually not attacking the greatest challenges of our society in the most objective and optimal manner. SparkBeyond created an “Ideation Machine” or a hypothesis algorithm to make sure we are asking the right questions. The company uses its technology in the business sector to power offerings from some of the world’s most successful companies including a leading global management consulting firm and Microsoft, but much more importantly, SparkBeyond’s engine is used in areas from advanced cancer research to fighting human trafficking, all while generating over $1 billion across 20+ industries with Fortune 500 and Global 1,000 companies.
It has been said that in today’s era, data is the new currency replacing things like oil, and given the tremendous amount of data to which we are exposed, the name of the game is to build the tools we need to extract, analyze and leverage that data to build hypotheses and solve problems. That data is simply raw material that needs to be filtered and crystallized in order to make it actionable.
SparkBeyond takes the client’s data, and harnesses humanity’s collective intelligence to solve the very specific client problem. Its technology correlates or augments it with other external data sets, essentially connecting the many dots that are produced by the immense amount of data in our day-to-day lives.
How all of this manifests itself, for example, is when a business is looking to optimize its processes, looking for better ways to increase its bottom line. As human beings, they are inclined to miss out on opportunities because certain hypotheses were simply not raised. SparkBeyond’s engine might raise an idea, correlate it with available data, offer actionable insights to be implemented by the team, and prove to be the missing link that ends up bringing the necessary edge to boost the business and bring deep impact.
The other side of the coin is how SparkBeyond’s technology is utilized in areas of deep impact. The team’s philosophy at its core is “To do well by doing good.” The way they do this is by using their platform to offer creative and often, unthought of solutions for problems like human trafficking, to name one example.
The core philosophy of SparkBeyond is to leverage advanced data sets and transform them into a predictive hypothesis that connects artificial intelligence to have both business and social impact. Without a sales team, SparkBeyond continues to power some of the most advanced and successful solutions used in our daily professional lives. SparkBeyond’s engine helps companies gain meaningful insights, which lead to meaningful outcomes, and eventually meaningful solutions. All of that makes a deep impact!
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