What happened
AI training company micro1 announced it will commit $1bn over the next 12 months to buying and licensing operational data from companies. The San Francisco company unveiled the plan on Friday.
Where the money comes from
Citi and Hercules Capital are providing the capital. The funds will be deployed through micro1's Company Data Partnerships programme.
How the data will be used
micro1 uses de-identified company data to build reinforcement learning processes. Reinforcement learning is a method that teaches an AI agent correct behaviour through trial and error.
Why it matters
AI agents need real company data to be useful in actual business workflows. micro1's move signals a growing race to buy and license that data.
