Making Sense of it all
Working through the vast amounts of publicly available information in the world can be a daunting task if you don’t have the right tools available at hand. This kind of information usually comes in the form of nonpersonal data and has been distributed as the provider believes it is beneficial to the wider public to do so.
Some would argue, however, that by handing over the “valuable” data — even though it is nonpersonal — the sharer is giving up a competitive advantage in some way by allowing others to access it.
With that said, and back to the main point again, whatever the level of importance ascribed to the data, having it is not the end story — this is particularly the case when we’re talking about the public, unstructured data readily available on search engines, companies’ websites, news releases, and the other points where access to this kind of information is freely accessible.
To make sense of it all, and garner valuable insight from it — whether it’s for commercial or for research purposes — requires some cutting-edge software.
Luckily, there are a few commercial players around that can provide such offerings. And Dataminr, an NYC-based company founded in 2009 by Jeff Kinsey, Sam Hendel and Theodore Bailey that has gained recognition on the Deloitte Technology Fast 500, Forbes AI 50 and Forbes Cloud 100 lists, is just one of them.
Its solution comes in the form of an AI platform that puts real-time AI and public data to work for its clients, generating relevant and actionable alerts for global corporations, public sector agencies, newsrooms, and NGOs.
Dataminr has been a pioneer of AI/ML systems for real-time event detection for more than a decade when it filed (2010) its first Natural Language Processing (NLP) and Machine Learning (ML) patent for detecting events in microblogs.
The company’s team, made up of accomplished data scientists, engineers and expert researchers, employs a range of Deep Learning AI methodologies from a number of scientific fields. These include — as already mentioned — NLP, but also feature Natural Language Understanding, Natural Language Generation, Computer Vision, Audio Processing and Classification, and Anomaly Detection on both Machine and Human-Generated Public Data Streams, making Dataminr’s platform one of the best available on the market and has earned it the ‘Most Innovative Use of AI’ from the 2020 AI & Machine Learning Awards.
The platform has three main services:
• Dataminr Pulse
giving you the earliest indications of high-impact events, plus rich visual context and tools to help you collaborate and act faster — so you can better protect your people, your brand and your physical and virtual assets
• Dataminr’s First Alert
A product for the public sector alerts first responders to breaking events, enabling the fastest real-time response
• AI for Modern Newsrooms
to discover the earliest possible indications of breaking news and gain an edge in covering the stories that matter most to their audiences
All this must be valuable to someone, as Dataminr has raised a total of $1.1 billion in capital over 13 rounds. This brings the company’s valuation to an estimated $4.1 billion as it gears up for an IPO in 2023, making the founders very wealthy people.
Ted Bailey is the Chairman, CEO and Co-Founder of Dataminr. Since founding the company in 2009, Bailey has scaled the company to 250 employees, raised $180 million in financing and established Dataminr as the world’s real-time information discovery company, serving thousands of customers in over 40 countries.
Bailey has appeared as a guest on CNBC’s SquawkBox, CNBC’s Fast Money, BBC News, and Fox Business News. He is a World Economic Forum Technology Pioneer, a Term Member on the Council on Foreign Relations and has been a speaker at Davos & the Aspen Ideas Festival. Bailey was one of Crain’s 40 under 40 business leaders in 2017, Business Insider’s 40 under 40 Tech Entrepreneurs in 2015, and has been included numerous times in the Silicon Alley 100.
He earned a BA from Yale in 2004, where he focused on the impact of disruptive technologies on American Industry and Government.
Another Co-Founder of the company, Jeff Kinsey, is the CTO, too. Prior to co-founding Dataminr, Kinsey worked as a Software Engineer at The University of Massachusetts, Amherst, where he developed research software for the study and modelling of the micro-behaviours of language comprehension. Additionally, he was a Consulting Engineer at Market and Research Systems, building custom CRM and database tools for enterprise clients. Before UMASS, Kinsey developed computational emulators of the human language acquisition process, leveraging large behavioural data sets.
Kinsey holds a BS in Computer Science from Yale University, with a focus on computational linguistics.
Sam Hendel is an experienced portfolio manager with nearly twenty years in the Investment Management industry. Hendel serves as President of Easterly Investment Partners. Specialized in Arbitrage, Event-Driven, and Value investing across all sectors his strong entrepreneurial background as the third Co-Founder of Dataminr.
Hendel obtained a BA in Economics from Yale University.
As a premium real-time information discovery company, Dataminr’s AI and ML offering solutions for corporate security, finance, public sector, media, and PR/communications professionals looks like game-changing technology for how publicly available information is collected, analyzed and used.