Fairgen secures $8M in funding to develop AI generated survey responses

The company’s mathematical research advancements have facilitated the development of forecast synthetic responses with established accuracy. This discovery possesses the capacity to cause a disruption in the $94 billion research and insights market.

Seed funding has been raised thus far in the amount of $8 million by Fairgen, a company that generates accurate AI responses to surveys, with the intention of bringing consumer insights into the era of artificial intelligence. This fundraising initiative was propelled by Maverick Ventures Israel; in addition, Tal Ventures, IGNIA, and Creator Fund have made contributions. The organisation is introducing FairBoost, its signature product, which augments undersampled segments by a factor of two through the use of predictive synthetic responses.

Companies that manufacture consumer products allocate millions of dollars towards market research with the objective of acquiring comprehensive knowledge about the target consumers. Typically, they are required to allocate resources towards the collection of a significant volume of data in order to meet sample quota requirements and reach conclusions regarding niche markets. In certain cases, researchers may be obligated to reimburse an additional fee and revisit the study in order to gather further responses from groups that were not initially enrolled. Moreover, the procurement of these stimulants generally necessitates a number of weeks and may prove to be unaffordably costly.

By scientifically demonstrating that proprietary algorithms could enhance under-sampled segments with a high degree of accuracy, Fairgen became the first company to utilise synthetic data for granular insights. This accomplishment positioned Fairgen as a leader in the field of information technology. An artificial intelligence model is trained by Fairgen’s FairBoost using survey data from customers. Moreover, the model possesses the capability to extrapolate from the larger groups, enabling it to produce mathematically guaranteed statistically accurate responses for specialised groups within minutes. This is achieved through gaining an understanding of the interrelationships among the questioned groups.

“Through rigorous research, we have successfully devised artificial intelligence models that augment structured datasets with statistical guarantees.” Executive Officer and Founder of Fairgen According to Samuel Cohen, PhD, this technology possesses the capacity to liberate detailed insights that transcend all sectors. We have reached a stage where we are prepared to release our technology to the entire industry after collaborating with some of the most eminent artificial intelligence researchers to test and validate it.

Samuel Cohen, a former research scholar at Meta, founded Fairgen in collaboration with Benny Schnaider and Michael Cohen, both of whom have a track record of entrepreneurial success. Among the advisors are Emmanuel Candès, the director of statistics and mathematics at Stanford University, and Daniel Amzallag, the founder of the unicorn company. Facilitating the development, evaluation, and verification of Fairgen’s technology is the duty of Candès.

“Through the seamless integration of generative artificial intelligence technologies and traditional statistics, Fairgen is establishing a paradigm shift in quantitative research,” stated Professor Candès. A comprehensive examination of the outputs generated by this fusion reveals that it greatly enhances predictability.

“Fairgen’s innovative method, which generates synthetic data through the use of statistical artificial intelligence, employs AI in an unprecedented manner,” said Michel Abadi, general partner at Maverick Ventures Israel. This technological development signifies a significant progression in the application of artificial intelligence across numerous industries.