- Crowd Media (CM8) has licensed access to its Conversational Artificial Intelligence (AI) platform to investee Forever Holdings
- Crowd is based in Amsterdam and has 10 years of experience and technology development in the Conversational AI space
- Its unique technology can seamlessly combine answers from both AI and real humans
- London-based Forever Holdings is a leading-edge voice and visual interactive digital media company
- The companies will sign a non-exclusive 17-month software-as-a-service licensing agreement
- With commercial terms of £170,000 (approximately A$305,000), under the agreement, £120,000 (around A$215,000) will be payable in cash over the first 12 months and £50,000 (about A$90,000) as in-kind services in months 13 to 17
- Crowd’s platform has processed more than 180 million questions to date
- Crowd Media shares are in the grey, trading at 3.9 cents each
Crowd Media (CM8) has licensed access to its Conversational Artificial Intelligence (AI) platform to its investee, Forever Holdings.
Crowd is a tech-based, vertically integrated social commerce business in Amsterdam, with 10 years of experience and development in the Conversational AI space.
Forever Holdings, an interactive digital media company, will sign the non-exclusive software-as-a-service licencing agreement for a 17-month period.
With commercial terms of £170,000 (approximately A$305,000), under the agreement, £120,000 (around A$215,000) will be payable in cash over the first 12 months and £50,000 (around A$90,000) payable as in-kind services in months 13 to 17.
The licence will not be automatically renewed at the end of 17 months.
The technology developed by Crowd has the unique ability to seamlessly combine answers from both AI and real humans.
In fact, the company says that over the past 12 months, more than 65 per cent of all questions put to the platform were answered by AI, with the remaining 35 per cent accurately answered by humans.
The human answers are then added to the platform’s database, rapidly building its efficiency.
Crowd Media Chairman Steven Schapera said the agreement was a step forwards for the company, which is known as an influencer marketing specialist.
“This is the first licence we have granted, and takes us past another significant milestone as we progress with the development and commercialisation of our talking head technology,” he said.
“We are able to accelerate development of the AI-driven platform where more conversations will continue enhancing its automation capabilities,” Steven added.
Forever’s technology is designed to enable one-to-one virtual encounters between an influencer and any follower who wants to converse with them one-on-one, 24 hours per day, seven days a week.
The voice and visual experience it provides has the potential to integrate with Crowd’s human and AI-driven conversation technology across multiple languages.
Forever Holdings CEO Sarah Coward said “Crowd’s unique approach combines the abilities of AI with near real-time responses provided by humans.”
“Crowd also possesses access to key data from millions of questions and answers already asked and answered,” she said.
“Forever Holdings is particularly interested in the integration of the near-real time human element into our existing approach,” Sarah added.
Crowd’s Conversational AI platform has processed more than 180 million questions to date.
Crowd Media shares are in the grey, trading at 3.9 cents at 12:13 pm AEDT.