Tenyx is an American software company that focuses on artificial intelligence technology. The business is based in Palo, Alto, California. It's recently made news in business circles with fundraising efforts that gave the company a $15 million boost for expansion and further development. Tenyx stands out in the tech world as a startup with a high potential to become a disruptor in the automatic segment of the tech industry, enhancing the capabilities of call centers. If you've not yet heard about this exciting new tech company, here are twenty things you probably didn't know about Tenyx.
1. Tenyx bases its intelligence systems on neuroscience
Crunchbase confirms that the research and development division of Tenyx is at work with the task of developing a new series of systems in the artificial intelligence segment. Engineers are developing voice-based intelligent systems they refer to as the next generation. The systems are based on artificial intelligence technology that is inspired by neuroscience. Proprietary AI tech more closely links its products with what is known about the functioning and cognition of the human brain for enhanced machine learning and intelligent decisions made by systems and machines. In short, it's making the software and hardware used in the processes more capable of making decisions that would be made by a human.
2. Tenyx is a brand new company
If you've not yet heard about Tenyx, it's probably because the company hasn't been around for long. The founders launched Tenyx in 2021. It's only been in operation for one year. Tenyx is still in its infancy and the developmental stages of its existence.
3. Tenyx is a venture capital-backed enterprise
Tenyx has participated in one round of venture capital fundraising. The most recent Seed round closed on May 10, 2022. The total amount raised from investors is $15 million. Tenyx is off to a good start in its bid to enter the artificial technology industry.
4. Tenyx gained investor confidence
It's difficult for new companies to attract wealthy investors when in the early stages of development. Tenyx's co-founders did an exceptional job of presenting the potential for the business to grow, thrive, and produce healthy returns on investments for those willing to take a chance at its success. Tenyx attracted and secured the support of eleven investors. It's a significant number for such a young company, which tells us that there is something unique and promising about Tenyx and its mission and goals, that makes it stand out to investors.
5. Tenyx secured high investor confidence
Although Tenyx is an infant tech startup, investor confidence in its potential for delivering a healthy return on investment is high. A group of eleven investors contributed $15 million to help the company get its start. Those who participated in Tenyx's seed round of fundraising are Point72 Ventures, Coelius Capital, StageOne Ventures, Jaan Tallinn, John Lilly, Georges Harik, AME Cloud Ventures, Zach Coelius, Cota Capital, and Pathbreaker Ventures.
6. Tenyx is a privately held company
The founders of Tenyx maintain control over their company with stakes issued to investors per private contracts for investments made in the business. You won't find shares of Tenyx stock offered on any of the public stock exchanges because it has not yet filed for an initial public offering. Tenyx is such a new company that it's still in the process of getting established. So far, no word about whether or not the founders intend to take the company public has been shared. For now, it's backed by private investors and not offered on the stock exchange.
7. Tenyx' executive leadership teams are experts in AI and cognitive sciences
Techcrunch confirms that Tenyx is led by a team of founders that brings years of high-level experience in computers and cognitive science to the mix. The founders of Tenyx are the same guys that launched Apprente, a voice-based automation system for drive-in restaurants. Itamar Arel and Ron Chrisley are the founders of Tenyx and members of its small yet powerful executive leadership team. Apprente was sold to IBM but the purchase price has not been disclosed.
8. Tenyx is working on conversational AI solutions
Tenyx seeks to address many of the problems previously associated with AI systems used for automation and self-service for customers. The limitations of AI systems prevented them from effectively interacting with consumers in conversational settings. They've been incapable of understanding what they're told by customers for effective engagement. Tenyx is working on next-generation artificial intelligence systems that more fully automate customer experiences with businesses by improving the level of understanding that the system experiences when engaging with customers, to allow the systems to carry on conversations that are more like those that would occur between two humans.
9. Tenyx has the potential to be a disruptor in automation technology
If Tenyx achieves its goal of making artificial intelligence-powered automation systems more intelligent, the company has the potential to disrupt the status quo of the industry. It will be the first to break through this barrier. Some automated systems do a good job of working with customers, but they all have limitations that can be frustrating for customers. Today's consumers are accustomed to companies that go over the top to provide speed and convenience and it's a demand that comes from a public that increasingly demands more from the industry. It's in a good position to deliver on those demands as it moves closer to developing technology that can converse with customers that is closer in comprehension to talking to a human. It's good news for call centers and other companies that would benefit from the personalized automation and save money on staff wage hours.
10. Tenyx identified key obstacles in AI proficiency for conversational language
Tenyx researchers and developers have come a long way in figuring out how to get around the barriers to conversational automation systems. It's an issue called statisticity that creates limitations. Algorithms in the processes are trained once on a dataset and they're rarely retrained. This makes it impossible for them to learn new information without retraining. Although the company is keeping the bulk of its research a secret, to avoid competition from swooping in and stealing it, they've indicated that they've found ways around the limitations to open up the capacity for AI systems to become more conversational and more intelligent. Tenyx confirmed that it understands the issues contributing to the problem of conversational automation, but they're not disclosing how they plan to address it. It's assumed that they have a solution.
11. Tenyx could become the next revolution in AI
Leaders from companies that have invested in the future of Tenyx technology share that they see tremendous potential for Tenyx to lead a revolution in AI capabilities. It's confirmation that enough information was shared by developers to satisfy their curiosity about the likelihood of success. It's a bit mysterious for the rest of us who are waiting to learn more about the processes involved in making automated systems more intelligent, but it's a sound business practice to not reveal your secrets or play your hand too soon. Investors expect the next-generation AI technology produced by Tenyx to revolutionize the automated communications segment of the tech industry, and that's big.
12. Tenyx attempts to promote continual learning
We learned from the conversations of investors that Tenyx's technology advancements are aligned to create systems that are capable of continuous learning. They will no longer be held back by glitches in the system that prevent reasoning because of limited training. It's not currently known the level of continual learning the system will be capable of, but it's exciting to consider the possibilities of an automated system that continues to grow its intellectual capacity.
13. Tenyx is a small company
We also learned that Tenyx is not a very big company. Itamar Arel confirmed that it only employs ten persons. Everyone who works at Tenyx is at the top of their field, including the two co-founders. It operates with a small yet dedicated staff of leaders and developers who are leaders in their respective fields of study.
14. Itamar Arel is the CEO of Tenyx
LinkedIn confirms that the chief executive officer of Tenyx is co-founder Itamar Arel. He became the CEO in April of 2022 and has only been on the job for two months. He left another executive leadership position to take on the full-time job of running Tenyx.
15. Arel was a strategic advisor to IBM
Before assuming the CEO job at Tenyx, Arel served as a strategic advisor to IBM Watson Orders. It was a private contract that he fulfilled in Mountain View, California, advising the team on strategy and execution at IBM Watson Orders. He served the team for three months from January 2022 through March 2022.
16. Arel has a solid track record of excellence
Investors find confidence in the background of the founder of Tenyx. Itamar Arel served as the Vice President of McD Tech Labs from October 2019 through December 2021. He led the company in the development, deployment, and support of the first voice-based AI automatic solution in the industry, for taking orders at a restaurant drive-through for the McDonald's fast-food chain. IBM acquired MdC Tech labs and Arel stayed on to provide them with advisement as a contracted consultant.
17. Itamar Arel can build intelligent automation systems
Itamar Arel is not only an executive of an AI development business, he can do the job himself. He doesn't just direct people about how to do their jobs, he gets into the heart of the issues, lending his expertise. He is an expert in AI technology and he knows how to build intelligent systems that can understand conversational language and respond.
18. Arel is a doctoral-level engineer
Itamar Arel is a highly educated professional who has earned a reputation in the AI technology sector. He attended the Ben-Gurion University of the Negev where he earned a bachelor's of science degree in electrical and computer engineering. he continued to earn his master of science in electrical and computer engineering. he took the final step and earned his Ph.D. in the discipline. He is a doctoral-level engineer.
19. Arel is an inventor with secured patents on his intellectual property
Itamar Arel has a vast knowledge base of artificial intelligence and machine learning principles and concepts. He combines his unique problem-solving skills and logic to further explore problems that hold the technologies back from delivering their full potential for becoming highly intelligent and carrying on conversations similar to how a human can. Investors find confidence in the fact that Itamar Arel has secured five patents for intellectual properties in the synthetic data and AI arena. All five patents are secured in the United States including a patent for a conversational agent pipeline trained on synthetic data in February of 2019. Another relating to the hierarchical machine learning system for lifelong learning was issued in December of 2018. In August of 2018, he secured a patent for machine learning architecture for lifelong learning. He also secured patents for reinforcement learning using confidence scores and reinforcement learning using a partitioned input state space. It's technical and difficult for the layperson to understand, but in the AI technology circles, it's understood that these are problem areas that required the application of problem-solving logic. It's apparent he's made advances toward those goals.
20. Tenyx is a company to keep your eye on
Tenyx is in the infant stages of its development, but it's a tech startup with the potential to change the world we live and work in. Leaders have a mission to accomplish things in the tech world that have not yet become realities. They're working on AI systems based on neuroscience that could become systems that are capable of growing their intelligence and achieving a state of continual learning. It might be worth following their work to get an idea of what the world could look like in a few decades ahead.
Written by Allen Lee
Read more posts by Allen Lee