IS Predict | X-Europe Startup Interview
Welcome to our X-Europe startup interview series. We have virtually sat down with a number of our founders from past cohorts to hear all about their solutions, vision for the future, and what made them tick during our X Europe programme. So whether you are a deep tech founder looking for startup support, an eagle-eyed investor, or simply interested in the possibilities that technology can bring to society, then we welcome you to take a read. Please meet IS Predict, a supplier of self-learning & explainable AI standard software for IoT.
Can you briefly explain what your solution is all about? What’s unique about it?
We offer powerful, but easy-to-operate data analytics. International companies choose us because they want Artificial Intelligence solutions that scale, adapt, and explain. Our solutions can be rolled out easily, clients do not need to depend on data scientists for modifying AI to change situations. You can fully understand, and thus trust, AI recommendations. With our solutions, our clients improve product quality, reduce energy/CO2 consumption, improve overall equipment efficiency and logistics at the same time reducing financial and credit risks.
What led you to start or join your company? What is the key motivation and mission behind the startup?
I have worked in an international consulting business for almost 20 years. I have been in quite some parts of the world, and what I did not see is people getting value out of their data. Why? I asked myself and the main reasons are that AI has difficulty in coping with this changing behavior and needs to be more adaptive. In addition, people don't trust AI because they don't understand it, Al needs to be more explainable.
I believe we can do a lot of good things for humanity with the help of data analytics. Of course, it can also be a powerful weapon, if not used in good spirit. My vision is that we help in good spirit and improve people's lives, improving working conditions, making products more affordable.
What’s the biggest milestone your startup has achieved so far, and what has surprised you most on this journey?
The biggest milestone was when a very large Asian company connected thousands of its critical infrastructure devices to our AI system. Thanks to our AI, the data center runs much smoother. What surprised me most is that it is much harder to get orders from German /European corporations. They are reluctant, hesitate due to the risk of AI failure, or data security issues. With Asian clients, we have barriers such as language, culture, time-zone difference of 8 hours which makes meeting difficult. But they are more open to AI and they appreciate ADAPTIVE and EXPLAINABLE AI.
How has X-Europe helped you during the past few months?
We joined coaching sessions on various topics such as marketing, pitching, and others.
What are your goals over the next 3, 6 and, 12 months?
Covid has slowed down some industrial parts very much. We want to help them improve their business and get more competitive in getting hidden secrets out of their data.
What advice would you give to an entrepreneur trying to pave his/her way in the Fintech landscape?
Do not be afraid of large corporations, do not give up just because the 5th contact in one company was not successful. Maybe, the 6th person is the one who needs your solution.
Thus, fall down, but get up quickly, again.
What one piece of advice would you give your 21-year-old self?
Try out your ideas: Think about them thoroughly, but if you see a chance, do it
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