Blackbird AI, which develops AI-driven narratives for risk management, has raised $20m in a series B funding round.
The funding was led by cyber security investor Ten Eleven Ventures, alongside a number of other venture capital firms.
Accoridng to a 2019 estimate, disinformaiton in the capital markets is costing companies and participants around $78bn annually. Half of that sum is money lost by publicly traded companies due to disinformaiton-related stock losses, states Blackbird AI.
These sums could rise streeply as a result of the emergence of generative AI, which Blackbird AI states "provides unprecedented scalability" for disinformation efforts.
"Human perception has become the latest frontier in cyberattacks, manifesting as misinformation and narrative manipulation. This emerging threat is impacting a broad range of sectors and professionals, from strategic communicators and risk managers to information security teams," stated Wasim Khaled, CEO and co-founder of Blackbird.AI.