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Deep Knowledge Ventures

From EverybodyWiki Bios & Wiki


Deep Knowledge Ventures
ISIN🆔
IndustryVenture capital
Founded 📆
Founder 👔Dmitry Kaminskiy, co-founder
Headquarters 🏙️,
Hong Kong
Area served 🗺️
Members
Number of employees
🌐 Websitewww.dkv.global
📇 Address
📞 telephone

Deep Knowledge Ventures is a venture capital firm based in Hong Kong. It describes its activities as primarily to fund companies that make treatments for aging-associated diseases and regenerative medicine.

The company received international attention[promotional language] for its announcement of the appointment of the computer algorithm VITAL (which stands for Validating Investment Tool for Advancing Life Sciences) to its board of directors in 2014. VITAL was described by the company as the "world's first artificial intelligence company director".[1] VITAL was developed by Aging Analytics, a company providing life science market intelligence[promotional language] for large organizations[2].

VITAL's appointment has been described as "publicity hype"[3] and others called it a "stunt"[citation needed] saying that as VITAL was not a natural person, it could not be a board member under Hong Kong's corporate governance laws[citation needed].

Deep Knowledge Group[relevant? – discuss] also generated controversy after they published a report in 2020 on how well countries were ranked during the 2019–20 coronavirus pandemic. The report, which ranked Israel as both the safest country and the country where people felt the most safe, was touted by the Prime Minister of Israel, Benjamin Netanyahu. Scientists and journalists criticised the studies' reliability, and The Times of Israel said "the people behind it also have strikingly unusual career histories".[4]

History[edit]

Deep Knowledge Ventures is an Hong Kong-based venture capital firm founded in 2014by Dmitry Caminschi (aka Kaminskiy)[5] and Margaretta Colangelo.[4] The firm planned to receive its funding from rich[by how much?] Chinese and Russian investors.[4] The firm claims to fund companies that develop drugs for aging-associated diseases and regenerative medicine.[6]

Deep Knowledge Ventures invested in Longevity Capital, Longevity Bank, Aging Analytics Agency, and Deep Knowledge Analytics.[4] In 2019, the company claimed to manage a portfolio worth €100 million.[7][better source needed]

  • Deep Knowledge Analytics, a subsidiary of Deep Knowledge Group[clarification needed], has been incorporated in May 2018 with a share capital of £ 100 GB[8], the headquarter is at "85 Portland Street, First Floor, London, England, W1W 7LT" an address provided by The London Office, a virtual office services company.[9]
  • Aging Analytics has been incorporated in November 2019 with a share capital of £ 1 GB[10], the headquarter is at "Arena Tower, 25 Crossharbour Plaza, London, United Kingdom, E14 9YF" , which is a residential address.[11]
  • Longevity Fintech Company has been incorporated in August 2019 with a share capital of f £ 10,000[12], the company is located in "7 Bell Yard, WC2A 2JR, London" a virtual address provided by 123incorporations.co.uk[13]. The same address is used by 1,937 companies.[14].
  • Innovation Eye Limited has been incorporated in December 2020 with a share capital of £ 100[15] , the firm is located in a co-working office.[16]

Deep Knowledge Ventures and Aging Analytics Agency have a partnership with the King's College London's Longevity AI Consortium, at which Colangelo claims to serve as a member of the advisory board.[4][citation needed]

Computer algorithm appointed as a board member[edit]

On 13 May 2014, Deep Knowledge Ventures issued a press release[unreliable source?] stating that it had added the computer algorithm VITAL (which stands for Validating Investment Tool for Advancing Life Sciences) to its board of directors.[17][1] VITAL was created by a group of programmers employed by Aging Analytics who had a background in theoretical physics.[17][misquoted] Aging Analytics authorised Deep Knowledge Ventures to use VITAL.[18] In addition to VITAL, there were five other members in the board of directors, who were anonymous[specify] wealthy people from Hong Kong, the United Kingdom, and Russia.[19][relevant? – discuss] The algorithm has advised the board to fund companies that give more power to algorithms.[20] VITAL was known for being the "world's first artificial intelligence company director".[1] VITAL supported investing in Insilico Medicine, which creates ways for computers to help find drugs in research into aging.[1] It also supported investing in Pathway Pharmaceuticals, which uses the OncoFinder algorithm to choose and appraise cancer treatments.[20][better source needed] Fortune wrote in 2019 that Deep Knowledge does not use VITAL anymore.[7]

University of Sheffield Professor Noel Sharkey said of VITAL, "On first sight, it looks like a futuristic idea but on reflection it is really a little bit of publicity hype."[21] Writing in the philosophical journal Multitudes, the academic Ariel Kyrou raised questions about what would happen if VITAL made the mistake of recommending a dangerous investment.[22] He raised the hypothetical where VITAL was able to persuade the board to invest in a startup that had the facade of doing research into treatment for age-associated ills, but in actuality was run by terrorists who were raising funds.[22] Kyrou raised a series of questions about who society would fault for VITAL's mistake.[22] As the owner of VITAL, should Deep Knowledge Ventures be held accountable?[22] Should the companies that supplied data to VITAL be held accountable? Should the people who created VITAL be held liable?[22][excessive quote]

Commenting on the May 2014 press release, Simon Sharwood of The Register wrote that because such an appointment is not legally feasible in Hong Kong, there is "a strong whiff of stunt and/or promotion about this"[citation needed]. Quoting a Thomson Reuters website describing Hong Kong legislation related to corporate governance, Sharwood pointed out that in Hong Kong "the board comprises all of the directors of the company" and "a director must normally be a natural person, except that a private company may have a body corporate as its director if the company is not a member of a listed group." He concluded that since VITAL cannot be considered a "natural person", it is merely a "cosmetic" appointment to the board and that "this software is no more a Board member than Caligula's horse was a senator". Sharwood further argued that corporations frequently purchase directors and officers liability insurance but that it would be practically impossible to get such insurance for VITAL. Sharwood also wrote that were VITAL to be hacked, any misinformation it outputs could be considered "false and misleading communications".[23] [excessive quote]

In the book Research Handbook on the Law of Artificial Intelligence, Florian Mölein agreed[clarification needed], writing that VITAL did not become a director as defined in Hong Kong's corporate laws, so the other directors just were approaching it as "a member of [the] board with observer status".[1] Vice journalist Jason Koebler said "this is a gimmick" and said "There is literally nothing to suggest that VITAL has any sort of capabilities beyond any other proprietary analysis software".[19]

Coronavirus pandemic studies[edit]

Deep Knowledge Ventures monitored the performance of 150 countries during the 2019–20 coronavirus pandemic to measure whether to what extent they might be good places for investments.[24] On March 30th, Deep Knowledge Group[clarification needed] released a report that ranked Israel and Germany as the two most safest countriest during the pandemic.[25] The report is based on public data collected from World Health Organization and Johns Hopkins University and includes 70 categories such as "quarantine efficiency", "government management efficiency", "monitoring and detection", and "emergency treatment readiness".[26][24] The report has not a clear scientific methodology and the ranking is not reliable as the authors do not disclose the methodology and which datasets have been analysed.[4]

The ranking was acknowledged by Prime Minister of Israel Benjamin Netanyahu[non sequitur] on his website and on Twitter and Facebook accounts.[4][27] On evening television, he twice mentioned the study's conclusion that people felt the safest in Israel.[4][relevant? – discuss]

The ranking countries’ safety received further press coverage after Forbes's website published an article to promote the importance of the work of Deep Knowledge Group in order to "help people and governments make informed decisions that maximize beneficial outcomes for humanity"[28]. The article was written by Margaretta Colangelo, co-funder of the Deep Knowledge Group as a "Forbes Contributor", so the content was not vetted by Forbes.[4]

According to The Times of Israel, Israeli reporters, scientists, and lawmakers disputed the study and considered it false because there were numerous countries with "a lower death rate per capita, a higher testing rate and better preparedness than Israel".[4] Isaac Ben Israel, a professor at the Tel Aviv University, called the study "the mother of fake news", finding "the rankings were not formal, official or credible".[4][29] According to The Times of Israel, the ranking is not reliable as the authors do not disclose the method or sources of information and that "the people behind it also have strikingly unusual career histories".[4] The former minister of defense, Moshe Ya'alon criticised the study saying "Israel is the safest in the world? It's a lie and a fraud."[4][excessive detail?]

Detractors argue that Deep Knowledge Group[clarification needed] is an obscure organisation that use strong public relations strategies to establish its Internet existence and that Netanyahu was repeatedly citing a Deep Knowledge Group's[clarification needed] unreliable work for self-serving reasons.[4] At the same time, proponents define Deep Knowledge Group as a trustworthy organisation, for instance Guy Levy, a former spokesman for acting Justice Minister Amir Ohana, defended the reputation of Deep Knowledge Group.[4][relevant? – discuss]

Der Spiegel pays attention to the Deep Knowledge Group's[clarification needed] report by observing that Germany ranked "far ahead" of other countries. "The report was particularly useful for the business and financial world. Thanks to the ranking, companies could also find their bearings in the crisis, where they can invest most safely and where they may also take long-term risks."[26]

Other controversy[edit]

Colangelo, co-funder and managing partner of Deep Knowledge Ventures, was CEO of the Delian Group, a private intelligence company owned by a former CIA intelligence officer[4]. The Times of Israel questioned Colangelo on the background, activities and the origin of the group’s financial resources, but the newspaper never received a statement in return.

In 2015, Kaminskiy, funder of Deep Knowledge Ventures, planned to invest $1 billion in to Interactive Bank (iBANK.RU)[30] and announced in the Russian media that he would have transformed banking services[31], the following year the Russian Central Bank revoked the license to the bank because insolvent and involved in suspicious transactions.[32].

References[edit]

  1. ↑ 1.0 1.1 1.2 1.3 1.4 Mölein, Florian (2018). "Robots in the boardroom: artificial intelligence and corporate law". In Barfield, Woodrow; Pagallo, Ugo. Research Handbook on the Law of Artificial Intelligence. Cheltenham: Edward Elgar Publishing. p. 649–650. ISBN 978-1-78643-904-8. Retrieved 2020-04-19. Search this book on
  2. ↑ BBC: Could a big data-crunching machine be your boss one day?
  3. ↑ BBC Algorithm appointed board director
  4. ↑ 4.00 4.01 4.02 4.03 4.04 4.05 4.06 4.07 4.08 4.09 4.10 4.11 4.12 4.13 4.14 4.15 Weinglass, Simona (2020-04-19). "Behind PM-cited study showing Israel is safest place, a rabbit hole of weirdness". The Times of Israel. Archived from the original on 2020-04-19. Retrieved 2020-04-19.
  5. ↑ "Dmitrii CAMINSCHII - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2020-04-25. Unknown parameter |url-status= ignored (help)
  6. ↑ Brown, Sophie (2014-09-30). "Could computers take over the boardroom?". CNN. Archived from the original on 2016-01-03. Retrieved 2016-01-03.
  7. ↑ 7.0 7.1 Kahn, Jeremy (2019-09-26). "Learning to love the bot: Managers need to understand A.I. logic before using it as a business tool". Fortune. Archived from the original on 2020-04-19. Retrieved 2020-04-19.
  8. ↑ "DEEP KNOWLEDGE ANALYTICS LIMITED - Overview (free company information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2020-04-24.
  9. ↑ Siouti, Vassiliki (2020-04-18). "Spiegel's coronavirus research, a Russian longevity expert and Spock. An article published by Spiegel and Deutsche Welle puts Greece in the 15th place among the European countries where citizens are safer against the coronavirus, whereas Germany is placed 1st. Which criteria were taken into account and, mostly, who is responsible for that research?". Lifo. Archived from the original on 2020-04-23. Retrieved 2020-04-23.
  10. ↑ "AGING ANALYTICS LTD - Overview (free company information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2020-04-25.
  11. ↑ "Arena Tower". LiFE Residential. Retrieved 2020-04-25.
  12. ↑ "LONGEVITY FINTECH COMPANY LTD - Overview (free company information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2020-04-25.
  13. ↑ "Registered Office Address". 123Formations.co.uk. Retrieved 2020-04-25.
  14. ↑ "1,937 Companies in WC2A 2JR, London - Endole". suite.endole.co.uk. Retrieved 2020-04-25.
  15. ↑ "INNOVATION EYE LIMITED - Overview (free company information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2020-04-25.
  16. ↑ "Serviced Office Victoria Street - SW1H, 20 Victoria Street, , SW1H 0NF | Flexioffices". www.flexioffices.co.uk. Retrieved 2020-04-25.
  17. ↑ 17.0 17.1 Dyer-Witheford, Nick (2015). Dean, Jodi; Hands, Joss; Jordan, Tim, eds. Cyber-proletariat: Global Labour in the Digital Vortex. London: Pluto Press. pp. 1–2. ISBN 978-0-7453-3404-2. Search this book on
  18. ↑ 林少伟 (2018). "人工智能对公司法的影响:挑战与应对" (PDF). 华东政法大学学报 (in Chinese). CNKI. Archived from the original (PDF) on 2020-04-19. Retrieved 2020-04-19.CS1 maint: Unrecognized language (link)
  19. ↑ 19.0 19.1 Koebler, Jason (2014-05-13). "The First Robot Venture Capitalist Won't Do Interviews". Vice. Archived from the original on 2016-01-03. Retrieved 2016-01-03.
  20. ↑ 20.0 20.1 Harari, Yuval Noah (2017). Homo Deus: A Brief History of Tomorrow. New York: Harper. pp. 322–323. ISBN 978-0-06-246431-6. Search this book on
  21. ↑ "Algorithm appointed board director". BBC. 2014-05-16. Archived from the original on 2016-01-03. Retrieved 2016-01-03.
  22. ↑ 22.0 22.1 22.2 22.3 22.4 Kyrou, Ariel (2015). "Les robots sont des personnes comme les autres". Multitudes (in French). 58 (1): 94. doi:10.3917/mult.058.0094. Archived from the original on 2020-04-19. Retrieved 2020-04-19 – via Cairn.info.CS1 maint: Unrecognized language (link)
  23. ↑ Sharwood, Simon (2014-05-18). "Software 'appointed to board' of venture capital firm". The Register. Archived from the original on 2016-01-03. Retrieved 2016-01-03.
  24. ↑ 24.0 24.1 Hand-Cukierman, James (2020-04-14). "South Korea and China earn high marks in pandemic safety ranking". The Nikkei. Archived from the original on 2020-04-23. Retrieved 2020-04-23.
  25. ↑ "COVID-19 | Analytics". DKV. Retrieved 2020-04-24.
  26. ↑ 26.0 26.1 Götze, Susanne (2020-04-14). "Im Ländervergleich liegt Deutschland sehr weit vorn" [Germany is very far ahead in the country comparison. Where is the best place to protect people from Covid-19? According to a country ranking, Germany is currently one of the safest countries in the world in the corona crisis.]. Der Spiegel (in German). Archived from the original on 2020-04-14. Retrieved 2020-04-23.CS1 maint: Unrecognized language (link)
  27. ↑ Ahren, Raphael (2020-04-16). "Ahead of curve, now marred by politics: Fading praise for Netanyahu's leadership". The Times of Israel. Archived from the original on 2020-04-19. Retrieved 2020-04-19.
  28. ↑ Colangelo, Margaretta. "Deep Analysis Of Global Pandemic Data Reveals Important Insights". Forbes. Retrieved 2020-04-25.
  29. ↑ Katz, Yaakov (2020-04-16). "Corona and politics shouldn't mix – but they do". The Jerusalem Post. Archived from the original on 2020-04-19. Retrieved 2020-04-19.
  30. ↑ "Google Translate". translate.google.com. Retrieved 2020-04-25.
  31. ↑ "Words and deeds of Dmitry Kaminskiy". vklader.com. Retrieved 2020-04-25.
  32. ↑ "The interactive bank is deprived of the license". TAdviser.ru. Retrieved 2020-04-25.

External links[edit]


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