As part of London Tech Week, recently appointed Analytics Engines Board Director and CTO Alastair McKinley took part in a panel session titled ‘AI & Data Analytics in Action’.
Hosted by Invest Northern Ireland, the event showcased several real-world applications of Artificial Intelligence and Data Analytics across the public and private sector. Alastair was joined by Philip McAleese, CEO at See.Sense and Stuart Mills, COO at Crowdvision.
During the event, Alastair discussed Cobalt Grant Manager, a solution developed by Analytics Engines which utilises a range of innovative analytics-based technologies including Machine Learning, Text Analytics and Natural Language Processing to perform several key tasks, including:
- automate identifying duplicate and potentially fraudulent applications
- perform similarity checks for multiple submissions of the same application
- assign applications to assessors.
To illustrate the power of the Grant Manager solution, if an application to Innovate UK is matched against 100,000 previously submitted documents (at approximately 200 sentences per document), there are potentially 2 trillion sentence comparisons. This is an intractable problem for humans and for naïve algorithms but can be resolved through Cobalt Grant Manager’s powerful natural language processing capability.
The full webinar event can be viewed below.
Some key insights from the presentation include:
- The Challenge (27min 13secs)
Alastair discusses the challenges faced by Innovate UK in relation to managing volume and frequency of applications.
- The Impact (29min 50secs)
Alastair outlines the impact of Cobalt Grant Manager on operations at Innovate UK, highlighting how the solution was able to reduce ‘4 Days’ work to a matter of minutes‘.
- Data at Scale (31min 18secs)
Alastair highlights the intractability of manually processing large volumes of documents and describes how the scalability of Cobalt Grant Manager’s natural language processing algorithms make this challenging problem tractable.
- Other Applications (34min 50secs)
Alastair concludes his section by highlighting other potential applications of AI-driven text-analytics.
- Understanding in the Marketplace (38min 15secs)
Responding to a question from host, Jennifer Liu at Invest Northern Ireland, Alastair discusses Analytics Engines approach to educating, developing and delivering AI-driven solutions for our clients.
Find out more
To find out more about Analytics Engines or to arrange a free consultation with one of our data experts, contact us using the form below.