Singapore-based Scry raises US$120,000 from Zeroth-AI
By Digital News Asia February 28, 2018
- Platform uses a gamified process to keep users on the platform and track their progress
- Part of the funding will go into a machine learning algorithm to provide feedback to users
SCRY, a Singapore-based AI-driven forecasting platform has raised a seed round of US$120,000 (RM468,817) from AI-investor, Zeroth-AI.
Businesses, governments, and other institutions will be able to use predictions generated by the Scry platform to make smart, strategic and faster decisions based on real consumer feedback and information.
Scry CEO and co-founder Justin Wang, shared, "We place too much faith in experts, especially when it comes to predicting future trends. Everyone makes mistakes, and experts get things wrong. This includes major global events such as the Trump election win, Brexit and many other political and business events.
“With Scry, we're looking to connect predictors to people who want these predictions before they make major decisions. Businesses can lose billions in an instant if they aren't prepared or can't take advantage of consumer shifts. We hope to change all of that with Scry."
The funding will provide a significant base for the team to build up their platform and continue to grow their user base to increase their prediction capability.
How it works
The Scry platform provides consumers, who act as predictors or "Scryers", a platform to answer questions on topics that matter to them. This is known as question engagement, which provides a clear and structured way to gather information from consumers.
The platform uses a gamified process to keep users on the platform and track their progress, helping them better understand major issues or trends, as well as enabling them to make better decisions through a simple learning process.
Part of the funding is going towards a machine learning algorithm to provide feedback to the user as they provide their responses, helping them improve almost in real-time.
The information gleaned from the responses provided by consumers is run through Scry's proprietary AI-platform to develop highly refined predictions based on mass consumer feedback.
The predictions are useful to businesses who use these to make decisions on company strategy in order to take advantage of future events and trends.
Chief product officer and co-founder Ho Jia Huang, said, "Data is crucial to decision-making, but without the capability to refine the data so that businesses can understand it, the data isn't that valuable.
“Using our AI engine, we're able to effectively review and refine thousands of consumer responses to understandable and relevant predictions that businesses and governments can use."
Because Scry uses a digital platform and AI-technology, it provides a scalable platform that can grow faster than other platforms.