April 2018 Published in Forbes
For three years now, Fountech has been cutting its teeth and sharpening its tools in the world of artificial intelligence. Having worked with dozens of businesses – both large and small – to build amazing AI technologies, we consider ourselves something of an expert in this space.
But we know AI and the way it’s developed can be somewhat confusing to entrepreneurs and business leaders. So, to help shed some light on the subject, we wanted to provide you with an introduction to Fountech, our approach to AI, and how organisations can benefit from this technology.
What exactly do you do at Fountech?
At Fountech, we design, develop and integrate AI into the core of your business. Typically we do this by releasing the untapped potential of ‘Big Data’.
We’ve been running since 2016 and have established ourselves as one of the leading AI developers in Europe. Importantly, not only do we employ novel approaches to developing AI, but we also create intellectual property (IP) for our clients, ensuring the product has inherent value.
Why should we care about AI?
Simply put, artificial intelligence and machine learning (ML) is probably the single most disruptive technological force on the planet. It is changing the world around us and making the previously impossible, possible.
From the hyper-personalisation of services and the creation of amazing products, through to providing huge efficiency boosts and combatting the latest cyber threats, AI has the potential to deliver enormous value to organisations of all shapes and sizes.
Those who act fast stand to benefit massively – those who don’t risk being left behind.
But do we have to have lots of data to work with AI?
Yes and no. Data is the lifeblood of AI. And often organisations will already be sat on mountains of data, even if they don’t know it, and we help them mine and extract value from that data. Other times, we’ll help you to find the data you need.
Ok, great. So, does Fountech just build AI technologies?
No. We regard ourselves as an AI think-tank, rather than just a development company.
Through this approach, we can turn your business ideas into tangible results using targeted AI. In fact, that’s why our core philosophy is: ‘you don’t just learn Artificial Intelligence – you need to think it’.
How do you approach the challenge of developing AI?
Well, this is where things get technical. For us, the deft application of AI involves so much more than writing algorithms; it’s about examining the philosophy of an organisation’s interaction with technology, for businesses and customers alike.
When it comes to rolling our sleeves up and starting the development process, we follow a series of logical steps:
1. White Paper: We start by creating a document detailing all factors that will affect the solution’s design and development. This produces an outline of the technical work involved.
2. Grant Applications: Where required, we will also assist clients to identify grants, perhaps local and/or international, which they may be able to apply for, and we can also assist in the application process itself.
3. Yellow Paper: Following on from the initial white paper, this ‘blueprint’ document exhaustively details the solution, which will be strictly followed in the development phase.
4. Proofs of Concept: Next, we develop modules to validate and test the algorithms created during the yellow paper phase, before we finalise the yellow paper itself.
5. Patent Applications: Importantly, we also prepare the information and diagrams required by patent attorneys to file patent applications to protect your IP.
6. API Development: Then we come to the development process itself, which is broken down into further sub-phases (be sure to download our eBrochure to read about these sub-phases in more detail).
7. After-Sales Support: But that’s not all, we offer a support service of a negotiated period after the release of Version 1.0 of your AI solution.
So, you see, a lot of thought goes into the process before simply jumping in and trying to build an AI tool. Careful consideration of what you need, how it will be developed, and ensuring you have the necessary IP in place all comes prior to the development phase beginning.
It’s this tactical approach that sets us apart from so many other AI companies. It’s empirical, so the strictly documented process leaves no stone unturned in examining the way that your business operates.
Who are your clients?
At Fountech, we work with a variety of different clients. These range from VC-backed startups looking to developing game changing AI solutions, through to multinational enterprises eager to find competitive advantages through AI and machine learning. What’s more, we support companies from all sectors, ensuring any organisation can be positioned to benefit from the advantages on offer through AI.
Our diligent approach ensures any client can excel with AI. And our bespoke approach to developing technologies that fit a business’ exact needs is a long way removed from the common – and often ineffective – ‘off-the-shelf’ approach.
Who is in the Fountech team?
Fountech has grown at pace since launching three years ago. Our CEO, Nikolas Kairinos, regularly writes papers, speaks at conferences and features in the news driving the conversation around artificial intelligence.
But Nick is supported by an amazing team of AI experts (if we may say so ourselves). At present there are 15 members of the Fountech family, which include numerous PhDs in data analytics and AI development, as well as decades worth of experience in designing and building amazing technologies.
How can I find out more?