Generative Artificial Intelligence (AI) tools have become a global phenomenon, revolutionizing the way we learn, work, and play. At Qualgro, two of our portfolio companies, PatSnap and EngageRocket, are harnessing the power of AI to develop cutting-edge products that are reshaping their respective industries:
• PatSnap, an innovation intelligence platform serving over 10,000 customers in over 40 countries, has developed a groundbreaking solution for the pharmaceutical industry. PatSnapGPT is an intelligent chat interface powered by GPT technologies that bridges the gap between drug discovery and development. Its one-of-a-kind capabilities enables easy and intuitive exploration of millions of data points in patents, scientific literature, and clinical trials, giving innovators a 360-degree view of the marketplace. As a first in its industry, PatSnapGPT is revolutionizing the innovation process by making it faster, more efficient, and easier than ever before. Qualgro first invested in PatSnap in 2016. To learn more about PatSnap’s groundbreaking innovation, watch this video: https://tinyurl.com/patsnapgpt
• EngageRocket is a digital employee engagement and HR analytics platform with over 300,000 users across over 16 countries. Recognizing the challenges faced by managers and employees concerning the desire for immediate performance feedback, the EngageRocket team created PerformAI. This feedback mechanism powered by ChatGPT, helps managers generate timely, genuine, and relevant feedback. Qualgro has been backing EngageRocket since 2020. You can read more about the potential impact that AI has on HR here: https://tinyurl.com/engagerocketgpt
The use of generative AI technologies, while transformative, presents concerns surrounding data privacy, security, and bias. Founders who utilise these technologies should be cognizant of the challenges. One way to promote responsible use and development is to work with likeminded organisations to develop testing tools – such as EngageRocket contributing as a member to the AI Verify Foundation. Another way is to create public resources, as PatSnap has done, on best practices and legal implications of using generative AI technologies.
By recognising the importance of responsible AI implementation and working collaboratively, founders can harness the benefits without foregoing our ethical obligations as drivers of innovation. Qualgro is proud to back these visionary companies to co-create a future where AI-powered solutions drive growth, productivity, and success in the startup ecosystem. Together, we hope to shape the development of a sustainable AI ecosystem.