At the recent Benzinga virtual event, AI Unleashed: Exploring the Possibilities, attendees were introduced to the transformative power of artificial intelligence (AI).
One of the standout presentations was by Paul Chang, co-CEO of Brand Engagement Network (NYSE:BNAI). Chang detailed the company’s AI-driven advancements and future plans.
Brand Engagement Network’s stock is ripping 140% higher at $6.20 Friday afternoon.
Customer Engagement with AI
Chang provided an overview of Brand Engagement Network, commonly referred to as BEN, emphasizing its commitment to creating AI that is not only helpful but also secure and efficient.
"We build AI that is helpful," Chang said.
He elaborated on BEN's AI capabilities, noting that it can assist users—from corporate professionals to consumers—by providing information and education and even performing tasks. The AI is designed to be conversational and is trained exclusively on approved datasets to ensure security and accuracy.
Achieving HIPAA Compliance
A milestone for BEN is its recent achievement of HIPAA compliance, which opens the door for the company to work with healthcare-related businesses. Chang highlighted the importance of this compliance: "By achieving this compliance, we have provided education and training to all of our staff, and we’ve proven that we have control and management over private data.” He emphasized that this compliance benefits healthcare companies and sets a high standard for data protection across all industries in which BEN operates.
Leadership and Company Growth
Chang’s recent co-CEO appointment with Michael Czarsky marks a new chapter for BEN.
“What we’re choosing to do here is… demonstrate to the market that our technology is viable, there’s a clear value proposition, and we can execute on our plans,” Chang said.
This leadership aims to focus on expanding BEN’s market presence and showcasing the value of its AI solutions.
Focus on Security and Privacy
Chang stressed BEN’s commitment to security and privacy as key differentiators in a market crowded with AI claims.
“Companies with well-known brand names are not willing to take the risk of damaging their brands by having some sort of security issue or data leakage,” he said.
BEN’s architecture is designed with these concerns in mind, using retrieval methods instead of generation methods to protect user data and ensure compliance with privacy standards.
Chang outlined BEN’s short-term goals, focusing on market validation and customer value over the next 12 months. He highlighted the potential impact of AI on industries like healthcare and customer service, where BEN’s solutions could address resource limitations and enhance efficiency.
Chang drew parallels with the early days of the internet, predicting a swift adoption of AI technologies as their benefits become more apparent.
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