AI regulations and compliance are a pressing need for many companies in this tech-driven landscape. Citrusx’s strategic move to address this challenge with the EU’s recent regulations and the global trend toward tighter oversight of AI technologies. With their seed investment, Citrusx can develop innovative software solutions that aid businesses in adhering to internal guidelines and governmental regulations concerning AI. This startup’s focus aligns well with the increasing demand for tools that streamline compliance processes in the rapidly evolving AI industry.
Noa Srebrnik, the CEO and co-founder of Citrusx identified a significant hurdle in AI deployment — the time-consuming process from model creation to actual implementation. Transitioning a model into a functional service or product often takes six to nine months. Recognizing this bottleneck, the aim was to develop a solution to accelerate this phase.
The goal was to establish a tool that parallels the workflow of conventional programming, ensuring the seamless operation of AI models. This tool guarantees the models’ functionality, reliability, and accountability throughout their lifecycle. This involves validating their relevance with updated data, enabling creators to articulate the model’s functionality to internal stakeholders and regulators, and fostering trust in the results generated by these models.
Srebrnik founded the company after gaining experience in compliance at the Bank of Israel, recognizing a significant need for a tool ensuring regulatory adherence within businesses. As the use of generative AI grows, this necessity has only intensified. She emphasized the adaptability of Citrusx, allowing seamless integration of new approaches like ChatGPT without constant modifications. “We designed Citrusx to be agnostic, facilitating comparisons between different models without altering techniques for each scenario,” she explained.
Established in 2021 with CTO Gilad Manor, Citrusx now boasts a workforce of a dozen employees. Srebrnik, as a female CEO, is dedicated to fostering a diverse workforce, striving to exhibit the significance of gender and representation. “I actively engage in calls with all employees to demonstrate the presence of a woman CEO and convey the importance of inclusivity,” she said.
Canadian venture firm Awz Ventures spearheaded the recent $4.5 million seed investment. In addition, it was supported by various angel investors, signifying a solid backing for Citrusx’s mission and potential growth.
FAQs
1. What key aspects does Citrusx’s tool prioritize in ensuring the functionality and accountability of AI models?
Citrusx’s tool emphasizes validating models with updated data, articulating functionality to stakeholders and regulators, and building trust in the generated results throughout the models’ lifecycle.
2. How has Citrusx designed its tool to be adaptable and agnostic to different AI approaches?
Citrusx has designed its tool to be agnostic, allowing seamless integration of new approaches like ChatGPT without constant modifications. This adaptability enables comparisons between different models without altering techniques for each scenario.
3. Why is AI compliance and regulation a pressing need for companies?
AI compliance and regulation have become crucial for companies due to the increasing scrutiny and oversight of AI technologies. The EU’s recent regulations and the global trend highlight the need for businesses to ensure that their AI practices align with legal and ethical standards.
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