Ziff Davis, Inc, a vertically focused digital media and internet company, and Xyla, Inc., an artificial intelligence (AI) company at the forefront of the development of retrieval-augmented large language model AI systems for accuracy-critical domains, have entered into a strategic partnership focused on AI enablement across digital media, software, and information services.
he first initiative in the partnership will be to integrate Xyla’s OpenEvidence technology into Ziff Davis’ Everyday Health Group with the mission of turning medical information into medical knowledge for healthcare professionals. OpenEvidence was the first medical AI to score above 90% on the US Medical Licensing Examination. With OpenEvidence, healthcare professionals can access and analyze vast amounts of medical information, published research, and clinical trial data, assisting them in making informed clinical decisions to improve patient outcomes. OpenEvidence technology will drive enhanced and personalized engagements with healthcare professionals as part of Everyday Health Group’s physician-focused MedPageToday, a trusted digital source for clinical news coverage across medical specialties.
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The Ziff Davis-Xyla partnership has two key elements:
- Xyla Investment. Ziff Davis is purchasing $25 million of Xyla equity for a minority ownership stake in the company. A portion of the investment will be funded with cash and a portion of the investment will be funded with Ziff Davis common stock with Xyla leadership exchanging a portion of their Xyla shares for Ziff Davis common stock.
- Long-Term Collaboration Agreement. Ziff Davis and Xyla are entering into a long-term collaboration agreement that establishes a framework for the parties to rapidly define, develop, and deploy AI at discrete brands and businesses within the Ziff Davis portfolio.
Through this partnership, Xyla will gain access to large audiences and data sets in high-value, domain focused categories across the Ziff Davis portfolio, as well as monetization capabilities. Ziff Davis, in turn, will gain access to Xyla’s AI technology and expertise in retrieval-augmented large language models that are capable of generating precise and authoritative content. Together, the companies will collaborate to transform user experiences and products across Ziff Davis’ core verticals.
“As we have studied potential AI use cases, we are energized by the countless opportunities to create value and drive innovation and transformation across our portfolio,” said Vivek Shah, Chief Executive Officer of Ziff Davis. “We have been actively searching for the right partner to help us accelerate our efforts in AI, and I am thrilled to be partnering with Xyla and Dr. Daniel Nadler, one of the earliest entrepreneurial innovators in AI.”
SOURCE: Businesswire