In the quest to become data-driven, companies are increasingly investing in Business Intelligence (BI) software to gain a competitive advantage. Yet, the insights generated by those tools are mostly fueled by data from within a company’s walls, instead of the real-time market signals found externally online – from consumer opinions to corporate filings. Outside data, however, can unlock key indicators about an industry or competitor, making the time-intensive task of harnessing the volume and variety of global data worthwhile. And although advances in artificial intelligence have made it easier to capture and analyze this data to create powerful insights, most commercial AI tools are one-size-fits-all models with limited capabilities.
That’s why Meltwater – a pioneer of media intelligence and curator of the world’s most diverse collection of open and licensed global data – is opening up its AI platform, Fairhair.ai.
Fairhair.ai supports developers and data scientists to:
- connect and organize internal and external data by a knowledge graph;
- access pre-trained, configurable AI models;
- create real-time insights to make forward-looking, data-driven decisions.
"AI and data analytics have come a long way, but businesses have yet to unlock their full potential as many are only looking at their own data - leaving out a universe of external data points. Some companies have begun overcoming this by implementing a 'Horizon Scanning' framework, or through the use of 'Smart Triggers' to alert them of key events. We hope to accelerate the widespread maturity of these techniques by opening up our AI platform. Through this open data science platform, we hope to make it a lot easier and cost effective for businesses to build and harness external data capabilities", Mimrah Mahmood, regional director, media solutions, Meltwater Asia Pacific said.
Originally developed to power Meltwater’s media intelligence and social analytics products, Fairhair.ai – as an open data science platform – makes it easier for businesses to gain a real-time pulse on everything from market research to risk management.
“We quickly realized our AI platform had far more potential, beyond Meltwater’s core products, to democratize competitive insights created from real-time online data. Fairhair.ai goes beyond Business Intelligence by filling the gap between historic trends and real-time market indicators that allows to predict what’s ahead with forward-looking insights – a practice we call Outside Insight,” said Jorn Lyseggen, Meltwater’s founder and CEO.
“In spite of being the most valuable source for forward-looking indicators, online data is the biggest blind spot today in corporate decision-making. Historically, online data has been hard to track and analyze in a systematic and rigorous way because of its sheer scale, plethora of data types, and its multitude of languages. Fairhair.ai addresses many of these challenges and helps companies analyze the noisy and messy web to better understand their competitive landscape”, he explained.
Fairhair.ai gives developers the tools to leverage the platform’s library of pre-trained AI models or train their own models to create advanced analytics fueled by the world’s largest corpus of outside data. This data is continuously mined by Meltwater’s privacy-by-design knowledge graph for relations and facts about the entities, such as acquisitions and product launches.
Furthermore, Fairhair.ai makes it easy to integrate this knowledge graph with any organization’s internal data and existing models. For example, companies can integrate Fairhair.ai into enterprise risk management – such as navigating complex supply chains. The platform’s powerful knowledge graph can trace events through global supply chains, connecting suppliers, products, and their dependencies.
“Existing AI platforms often require a lot of expertise and experimentation to be effective. They also don’t help with the expensive and difficult preparation of data. Fairhair.ai provides a fast-track to reap the benefits of AI and advanced insights by opening up access to our data and models organized in a knowledge graph,” said Aditya Jami, CTO and Head of AI at Meltwater.
The expertise behind Fairhair.ai includes Meltwater’s decades of experience collecting and analyzing web data and content partnerships. The platform reflects years of research and development from an experienced team of in-house engineers and data scientists through a series of AI acquisitions. Supported by collaborations with top universities and research groups, such as Carnegie Mellon University and the University of Oxford, Fairhair.ai is also informed by a Scientific Advisory Board, whose founding members – Regina Barzilay (MIT), Georg Gottlob (Oxford University), Jure Leskovec (Stanford University) and Eric Nyberg (Carnegie Mellon University) – are considered pioneers in fields of natural language processing, information retrieval, web data extraction and large-scale information network analysis.
“Fairhair.ai not only includes access to a very large knowledge graph that has been enriched by lots of feature extractors, but significant analytical capabilities with all of today’s best AI tools integrated together for researchers and students,” said Nyberg, director of the Master's Program in Computational Data Science at Carnegie Mellon University.
Fairhair.ai is working closely with select Meltwater Enterprise clients and academic partners ahead of making services available to the wider developer and data science community later this year. Developers and companies interested in trying Fairhair.ai before launch can apply here.