The Importance of Being Ernest
How a vertical AI startup solves the personal finance problem by combining AI, #fintech expertise & #chatbots tech
Artificial Intelligence (AI) has been one of the most controversial research domains in computer science since it was first proposed in the 1950s. It involves designing systems that exhibit the characteristics associated with human intelligence — understanding language, learning, reasoning, solving problems, and so on.
Despite the media buzz, we’re years away from developing a superhuman, general purpose, know-it-all artificial intelligence. On the other hand, a vertical implementation can work very well in a narrow context such as personal finance.
Chatbots are computer programs that mimic conversation with people using artificial intelligence. They can transform the way you interact with a service from a series of self-initiated tasks to a conversation in natural language.
Now imagine a chatbot that could act as your personal banker. It would connect to your bank accounts to monitor your transactions, answer your questions about your finances 24/7 and proactively give you tailored insights and forecast issues. You could ask him questions such as ”Hey, how much have I spent on Amazon this month?”, and have an artificial intelligence assistant continuously crunching data and proactively reaching out to you if something is unusual, noteworthy or needs your intervention.
This is Ernest. Ernest was created by a team with a mix of complementary skills including entrepreneurs, data scientists and product geeks, with established careers in finance and technology, entrepreneurial track record and a successful exit. We raised a £165,000 pre-seed funding round last year and we’re live on Crowdcube right now.
Ernest stands at the intersection of two disruptive and transformational markets: Fintech and Artificial Intelligence.The banking sector is facing major changes due to new FinTech players and regulatory changes, and investments on Artificial Intelligence companies are skyrocketing. More than 5 billion USD were invested in Artificial Intelligence in 2016 alone.
Until today, many of these opportunities were only available to VCs or professional Investors. Ernest’s equity crowdfunding campaign is the first on Crowdcube to offer investment in an A.I. chatbot service: if you want to join us in shaping the future of banking, don’t miss this opportunity!
You can find out more about Ernest and the investment opportunity by visiting the pitch page today.
Investments of this nature carry risks to your capital. Please Invest Aware.
Originally posted on Crowdcube
