Introduction

Archie Cheisvili is in his 20s and taking over the world of AI. He has recently been listed as Forbes 30 under 30, is a Harvard graduate with a degree in economics, and is frequently published by media outlets such as the New York Post and Yahoo Finance. Archie traded in a career at the largest fund in the world to be an AI entrepreneur. He now is the founder and CEO of GenesisAI, an Artificial Intelligence marketplace that allows companies to buy or sell AI products and services.

GenesisAI

GenesisAI is an AI Marketplace, think Amazon for Artificial Intelligence.. People can go to the Genesis platform, discover, tests and integrate different AI APIs. Users are also able to combine different AI tools for better performance and functionality. GenesisAI’s mission is to provide a very accessible AI marketplace that also combines different AI tools for better accuracy rates.

For example, if you want to do a deep fake analysis, you can go to the GenesisAI platform first and compare different services. You can upload any video, for example, and it will tell you if it contains a deep fake. If you want to systemize it, this is also possible. All you have to do is copy and paste a few lines of code, put it into your own development environment and then you’re able to make API calls to the AI model.

Building the Marketplace

First, you must focus on making sure you have the products that the customers of your marketplace need. And at the same time, you must build a customer base. They both need each other. This is always a tough problem to solve, which GenesisAI solved by seeding the supply side of the marketplace themselves. GenesisAI has about 40 AI tools deployed by their own engineering team; this way, when buyers come to the site they can already use tools and designs. There are over 2000 users on the platform.

Learnings & Challenges Encountered

The first bit of advice from GenesisAI is to first gather a core team through your own personal relations, database, and connections. Once you look at your immediate circle, you can then use recruiters to assist you with the hiring process. Working with 10-20 recruiters was key for GenesisAI. Many people think that hiring data scientists is a challenge, but it is not that hard when done correctly.

Next bit of advice is on raising capital. You do not need to be very creative or good at pitching, it is really all about storytelling, you must get your story and narrative right.

Fundraising

So far, GenesisAI has raised about 5 million in total. The company has two VCs as investors. They also did equity crowdfunding raising with about 5000 investors. Archie explains that it’s important to not just focus on VCs but equity crowdfunding as well. Raising capital through crowdfunding allowed GenesisAI to get the capital and the and users at the same time. GenesisAI used WeFunder for their crowdfunding campaign.

Advice For Aspiring Entrepreneurs

Advice for future AI entrepreneurs is to choose between the commercial use of AI – where AI can be applicable and where people might pay for you, or AI that is solving hardcore AI challenges and deeply rooted AI tech problems. For example, how do you combine AI models for better performance? It is very important to decide between one of the two when starting your own AI company.

AI in Marketing Conference:

GenesisAI is hosting AI in Marketing conference in Miami this May, where they will have long list of reputable industry experts presenting the commercial use of AI in marketing now and where they see it heading 5 years from now.

The conference will be held on May 24th and 25th

The link to get tickets to the conference: https://www.miamiai.io/

Company URL: https://genesisai.io/