AIRMIC 2023: AI risk management tool raises $20 million

Blackbird AI, which develops AI-driven narratives for risk management, has raised $20 million in a series B funding round.

The funding was led by cyber security investor Ten Eleven Ventures, alongside a number of other venture capital firms.

According to a 2019 estimate, disinformation in the capital markets is costing companies and participants around $78 billion annually. Half of that sum is money lost by publicly traded companies due to disinformation-related stock losses, stated Blackbird AI.

These sums could rise steeply as a result of the emergence of generative AI, which Blackbird AI states “provides unprecedented scalability” for disinformation efforts.

“Human perception has become the latest frontier in cyberattacks, manifesting as misinformation and narrative manipulation. This emerging threat is impacting a broad range of sectors and professionals, from strategic communicators and risk managers to information security teams,” stated Wasim Khaled, CEO and co-founder of Blackbird AI.