How I Democratize Technology

A SOFTWARE THAT HELPS COMPANIES WITH LIMITED BUDGETS TO OPTIMIZE ASSETS: IT WAS CREATED BY QUICK ALGORITHM, A STARTUP INCUBATED BY B4I A' BOCCONI FOR INNOVATION

To make their production more efficient, thanks to big data, is the dream of many companies. But then we come up against the need to invest in technological platforms suitable for exploiting a huge amount of information, and in data scientists who follow the process. In order to enable even companies with limited budgets, or without specialized professionals in house, to optimize the management of physical assets, from production machinery to corporate real estate, Quick Algorithm has decided to support the technological democratization of the market. Its Scops.ai. Proprietary is a cloud-based software that not only analyzes big data from sensors and different sources but also manages to monitor those generated by human maintenance activities.  

"Then it brings together all the information in a single interface for immediate use," explains Jacopo Piana, founder and CEO of the startup born in February 2018 and incubated by B4i-Bocconi for innovation,  acceleration program of Bocconi University in Milan. "With Scops, the suggestions coming from Artificial Intelligence (AI) supported by machine learning algorithms, are within the reach of both management and operational staff. All this while addressing sustainable costs, also designed to be pay-as-you-go." The less data is analyzed, the less you pay. The advantages achievable thanks to this declination of AI range from the reduction of cases of plant downtime (-30/-50% on average) and detection of any anomalies in advance to management of energy supply capable of predicting fluctuations and, therefore, resulting less economically burdensome (-15/-20% on costs incurred). "Without forgetting that, as a final result of a smarter management of physical assets, the life of a machine tends to be extended by 20-40%," concludes Piana who closed the first round of financing last summer with a capital increase of one million euros.
 

by Camillo Papini