Charbax | AIception AI Startup from Romania in Fintech, Forestry, and Predictive Maintenance at Swiss IT Forum @charbax | Uploaded October 2024 | Updated October 2024, 1 week ago.
Razvan Pistolea, co-founder the Romanian startup AIception, discussed their work in deep learning across various industries, including fintech, forestry, and predictive maintenance. AIception develops and owns intellectual property for AI-based products, with two notable use cases in the fintech sector: "Predictive Justice" and "Balance Buddy." Predictive Justice is an AI trained on over 20 million Romanian legal cases, enabling it to predict the outcome of legal disputes with 87% accuracy. Banks use this tool to assess their chances of winning court cases before deciding whether to proceed or negotiate settlements.
The second fintech solution, Balance Buddy, automates the process of analyzing trial balance sheets, a task usually performed manually by banks or lenders. It extracts relevant financial information from companies' balance sheets with an impressive 97% accuracy, greatly reducing time and errors in credit assessment processes. The technology has already been sold to two banks in Romania and is in discussions with several more, as well as insurance companies. AIception's goal is to expand this technology to other countries, including Switzerland, by training it on local data sets.
In the forestry sector, AIception developed an AI that uses satellite imagery to monitor forest layers and detect forest loss. This technology can distinguish between legal and illegal deforestation by cross-referencing the detected changes with legal documents. The AI can also identify signs of forest stress caused by pests, infections, or fungi. This project, awarded first prize by the European Commission, is available as a pro bono service across Europe. It aligns with the EU Green Deal and is recognized as an EU best practice, promoting the company's capabilities.
Beyond this, AIception collaborated with law enforcement to create a solution that accurately measures the volume of wood in trucks. The AI can handle challenges such as overlapping logs, mud, or snow, making it a valuable tool for quick and accurate inspection. This solution is benchmarked against laser measurements and has been adopted by commercial consortia and law enforcement agencies for monitoring timber transport.
AIception has also ventured into predictive maintenance, working with industrial robots. They developed an AI model capable of predicting equipment failure by analyzing sensor data from thousands of robots. This allows companies to perform maintenance before breakdowns occur, minimizing downtime and associated costs. This project was one of AIception's early pilots and has proven effective in the industrial IoT domain.
The AIception team consists of six highly skilled engineers specializing in machine learning and deep learning. Their strategy focuses on developing and owning AI core solutions and products, which they believe is the key to their success. This has allowed them to create innovative, high-accuracy AI tools across multiple sectors and maintain full control over their intellectual property.
When asked if they could use AI to determine the next product to develop, Pistolea acknowledged the challenges involved. He noted that AI lacks knowledge about business nuances and the unpredictability of startup success, which often depends on serendipity, market demand, and partnerships. However, he emphasized that AI can still play a significant role in enhancing business operations and decision-making.
Finally, Pistolea highlighted Romania's growing talent pool in AI development, even though the largest clients are often found outside the country. AIception is actively engaging with Swiss companies, participating in the Swiss IT Forum, and exploring potential partnerships. They aim to apply their AI expertise to solve problems for Swiss companies, leveraging their experience to adapt their solutions to new markets and industries.
Description by Chatgpt.
This video was filmed at Swiss IT Forum(s) 2024 in Geneva Switzerland, check out all my Swiss IT Forum videos here: youtube.com/playlist?list=PL7xXqJFxvYvgk4upSBTibrBuMcgvNjlEq
This video was filmed using the DJI Pocket 3 ($669 at amzn.to/4aMpKIC using the dual wireless DJI Mic 2 microphones without a lapel amzn.to/3XIj3l8 ), watch all my DJI Pocket 3 videos here youtube.com/playlist?list=PL7xXqJFxvYvhDlWIAxm_pR9dp7ArSkhKK
Join youtube.com/charbax/join for Early Access to my videos as soon as I upload them before they go public.
Razvan Pistolea, co-founder the Romanian startup AIception, discussed their work in deep learning across various industries, including fintech, forestry, and predictive maintenance. AIception develops and owns intellectual property for AI-based products, with two notable use cases in the fintech sector: "Predictive Justice" and "Balance Buddy." Predictive Justice is an AI trained on over 20 million Romanian legal cases, enabling it to predict the outcome of legal disputes with 87% accuracy. Banks use this tool to assess their chances of winning court cases before deciding whether to proceed or negotiate settlements.
The second fintech solution, Balance Buddy, automates the process of analyzing trial balance sheets, a task usually performed manually by banks or lenders. It extracts relevant financial information from companies' balance sheets with an impressive 97% accuracy, greatly reducing time and errors in credit assessment processes. The technology has already been sold to two banks in Romania and is in discussions with several more, as well as insurance companies. AIception's goal is to expand this technology to other countries, including Switzerland, by training it on local data sets.
In the forestry sector, AIception developed an AI that uses satellite imagery to monitor forest layers and detect forest loss. This technology can distinguish between legal and illegal deforestation by cross-referencing the detected changes with legal documents. The AI can also identify signs of forest stress caused by pests, infections, or fungi. This project, awarded first prize by the European Commission, is available as a pro bono service across Europe. It aligns with the EU Green Deal and is recognized as an EU best practice, promoting the company's capabilities.
Beyond this, AIception collaborated with law enforcement to create a solution that accurately measures the volume of wood in trucks. The AI can handle challenges such as overlapping logs, mud, or snow, making it a valuable tool for quick and accurate inspection. This solution is benchmarked against laser measurements and has been adopted by commercial consortia and law enforcement agencies for monitoring timber transport.
AIception has also ventured into predictive maintenance, working with industrial robots. They developed an AI model capable of predicting equipment failure by analyzing sensor data from thousands of robots. This allows companies to perform maintenance before breakdowns occur, minimizing downtime and associated costs. This project was one of AIception's early pilots and has proven effective in the industrial IoT domain.
The AIception team consists of six highly skilled engineers specializing in machine learning and deep learning. Their strategy focuses on developing and owning AI core solutions and products, which they believe is the key to their success. This has allowed them to create innovative, high-accuracy AI tools across multiple sectors and maintain full control over their intellectual property.
When asked if they could use AI to determine the next product to develop, Pistolea acknowledged the challenges involved. He noted that AI lacks knowledge about business nuances and the unpredictability of startup success, which often depends on serendipity, market demand, and partnerships. However, he emphasized that AI can still play a significant role in enhancing business operations and decision-making.
Finally, Pistolea highlighted Romania's growing talent pool in AI development, even though the largest clients are often found outside the country. AIception is actively engaging with Swiss companies, participating in the Swiss IT Forum, and exploring potential partnerships. They aim to apply their AI expertise to solve problems for Swiss companies, leveraging their experience to adapt their solutions to new markets and industries.
Description by Chatgpt.
This video was filmed at Swiss IT Forum(s) 2024 in Geneva Switzerland, check out all my Swiss IT Forum videos here: youtube.com/playlist?list=PL7xXqJFxvYvgk4upSBTibrBuMcgvNjlEq
This video was filmed using the DJI Pocket 3 ($669 at amzn.to/4aMpKIC using the dual wireless DJI Mic 2 microphones without a lapel amzn.to/3XIj3l8 ), watch all my DJI Pocket 3 videos here youtube.com/playlist?list=PL7xXqJFxvYvhDlWIAxm_pR9dp7ArSkhKK
Join youtube.com/charbax/join for Early Access to my videos as soon as I upload them before they go public.
