This AI Engine Takes Common Biases Out Of The Venture Capital Process

Venture capitalists pride themselves on their ability to pick winning ideas and winning people. But could artificial intelligence do a better job? That’s the intriguing question arising from an experiment now underway in London. Founders Factory, a U.K. startup accelerator, has developed an AI platform that identifies high-potential entrepreneurs. The hope is to avoid the unconscious bias that normally privileges some demographic groups and backgrounds, and prevents others from getting ahead. “I tried to remove that bias by normalizing the data and identifying people who did things differently, and persevered and exceeded [expectations].””I was interested in getting around the bias of selection, that if you’ve gone to a good school or university, you probably have a good network and a good chance of doing fairly well,” says Tom Bowles, who…


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