Blackbird AI, a developer of AI-driven narratives for risk management, has successfully raised $20 million in a Series B funding round.
The funding was spearheaded by cyber security investor Ten Eleven Ventures, along with several other venture capital firms.
According to a 2019 estimate, misinformation in the capital markets is costing companies and participants approximately $78 billion annually. Of that total, around half represents losses incurred by publicly traded companies due to disinformation-related stock depreciation, as reported by Blackbird AI.
These figures are expected to escalate sharply with the rise of generative AI, which Blackbird AI claims “provides unprecedented scalability” for disinformation campaigns.
“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.