Researchers from Skopje, a startup that uses artificial intelligence to characterize companies based on criteria such as technology, market and finance, say they can predict the startup's ability to attract investment using publicly available data.

Relying on data from startup websites, social media and company registries, the authors say they can get forecast results "comparable to those using structured data available in private databases". In other words, artificial intelligence can succeed in what human analysts cannot, discover startup companies that have all the predispositions for success, which will help them in further development, but also enable investors to invest their money in those startups that have better results and chances for success.

Given that only 10% of startups are considered successful, any increase in that percentage with the help of forecasting algorithms will benefit investors. Along with all the good things, this also raises concerns that it could lead to a reduction in innovative ideas that artificial intelligence could consider risky, and we all know that some of today’s most successful companies in the world started out as extremely risky projects.

Source: eKapija