An Ad Tech Firm Is on the Hunt for Smart AI Bets
The Ledger: OpenAI and Anthropic look to rein in the power of artificial intelligence before it destroys the worldrt AI Bets The post An Ad Tech Firm Is on the Hunt for Smart AI Bets appeared first on TheWrap .
Mediaocean, an ad tech giant, is investing in the AI space to capitalize on the technology's potential impact on the advertising industry. CEO Bill Wise explained that Mediaocean AI Ventures, a new fund, will back AI-based startups with investments of up to $5 million each. The fund will collaborate with existing venture capital firms to identify promising companies, with Mediaocean's Chief Strategy Officer Guy Kuperman leading the investment committee.
Mediaocean will not require board seats in the portfolio companies. The investment fund will work alongside Mediaocean's own technology and relationships to connect startups with the advertising industry.
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