PYMNTS.com July 16, 2024
Artificial intelligence firm SymphonyAI is reportedly planning to go public next year.
The company, whose predictive and generative AI tools can help financial services firms spot fraud and retail companies gain insights into supply chains, is in talks with banks about an initial public offering (IPO), CEO Sanjay Dhawan told Reuters Tuesday (July 16).
Symphony is targeting an IPO for the second half of the year, with the company hoping to bring in liquidity to help fund mergers and acquisitions (M&A), the report said. However, the schedule could change depending on the market.
“Going public is one milestone in a journey,” Dhawan said, per the report. “Once we identify a use case that we can disrupt with AI, we use...
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