Dear Reader,

One of the most revolutionary innovations of our time is artificial intelligence (AI). Its potential is only now starting to be understood, but it is already having a profound effect on a wide range of businesses. However, many AI businesses are stymied in their attempts to address pressing societal issues. They frequently lack the resources and topic expertise to create successful and scalable AI solutions.

Government procurement is a difficult and often inefficient procedure. Businesses may find it challenging to learn about and compete for government contracts. Meet Govly: an artificial intelligence (AI) startup working to address a significant issue in the public sector purchasing sector. Govly uses AI to streamline and improve public sector purchasing. It's a resource for companies interested in bidding on government contracts. Through the application of artificial intelligence, Govly's platform assists firms in bidding on appropriate government contracts.

Benefits of Govly:

• Govly promotes openness by serving as a consolidated database for all information related to government contracts. Any company can use Govly to research available government contracts from any government agency.

• Govly's technology utilizes AI to automate tedious tasks like bidding. Companies may quickly and easily submit bids with Govly.

• Government regulations are easier to meet with the help of Govly's platform. With the help of Govly's AI, you can rest assured that your bids will be thorough and correct, as well as in compliance with all regulations.

Round of Financing:

Govly recently raised $9.5 million in a Series A investment round. Andreessen Horowitz was the driving force behind the fundraising round. Govly will utilize the money to hire more people and build out additional capabilities for its platform.

Key Takeaways:

• While the number of artificial intelligence firms is on the rise, many of them are still unable to effectively address practical challenges.

• Govly is an artificial intelligence (AI) startup working to address a significant issue in the public sector purchasing sector.

• Using artificial intelligence, Govly's platform improves the openness and effectiveness of public sector purchasing.

In addition to these Govly-related items:

An increasing number of artificial intelligence (AI) firms like Govly are aiming to address pressing societal issues. Companies like Waymo, which is creating self-driving cars, and Nauto, which is creating AI-powered safety systems for trucks, are also included in this group of AI startups.

The future of AI relies on the achievements of Govly and other AI firms that are developing practical applications. AI will have a significant positive impact on society if AI startups can continue to discover novel solutions to real-world challenges.

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