How does Binerva remove psychological biases in investment?
Speaking at JerusalemTech, Binerva founder and CEO Rotem Peled discusses how AI can help entrepreneurs and investors
“The way it works as an entrepreneur or an analyst that works in a VC (is that) you do have to do a lot of research, and deep market research, and try to understand the numbers,” explained Binerva Founder and CEO Rotem Peled. “At the end of the day, as much as we are all making decisions that could be on the gut feeling, we do believe we can find those metrics that can make the process a lot more accurate if we are helping provide machines that can help us make the decisions.”
Binerva is an AI-based tool to help improve startup investment decision-making. According to Peled, adopting machine learning and AI into these decisions can help assist with a ‘gut feeling’ and also remove any biases that may be made by humans.
“The ability of machines is that they’re able to analyze the data a lot faster and a lot more accurately, and most importantly without any psychological bias that we have all around,” she continued. “When I say psychological bias, it’s not even about gender or the color of our skin, it could be the way we talk. Some guys are better at selling ideas than others, but it doesn’t mean that the other startup doesn’t have the tools or the ability to be successful. At the end of the day when everything is just about this gut feeling, we could lose great and the potential of startups.”
You can watch the entire exchange in the video above.