AlchemyML, The “One-Click Data-In Model-Out”

Project Information

AlchemyML

Grant agreement ID: 826855

DOI

10.3030/826855

Project closed

EC signature date 31 July 2018

Start date 1 August 2018

End date 30 November 2018

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

SKOOTIK MOBILE TECHNOLOGIES SL
Spain

Periodic Reporting for period 1 - AlchemyML (AlchemyML, The “One-Click Data-In Model-Out”)

Reporting period: 2018-08-01 to 2018-11-30

Summary of the context and overall objectives of the project

Learning through data will be the key aspect to compete in a dynamic environment: Machine Learning (ML) and Deep Learning (DL) are the technological trends that will allow it and will have the capability to disrupt many industries. In this context we have developed AlchemyML which main objective is speeding data management processes making Machine Learning technology accessible for all companies independently of their size and without the necessity of hiring qualified experts in this field. The objetives of the present project to make AlchemyML a global ML leader are:
• Define the product requirements
• Define a working plan
• Select adecuated technologies
• Define a commercial plan and identify regulatory requirements
• Build a business plan

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

To carry out this feasibility analysis we have undertaken numerous meetings in which all the staff has participated. The collaboration among people with very different profile has allowed us to coordinate the elaboration of a technical workplan with a commercial plan aligned with the technological features to be developed. We have also defined the structure of costs and revenues so that the project is profitable form the financial point of view.

The main results of this study are:
Technological
• We have selected the core technologies that we will use for the whole project-
• We have decided what algorithms and what tests must be developed
Commercial
• We will focus on Pre-processing or cleaning of data because is the most demanding activity in Machine Learning.
• We will offer Machine Learning under “as a service” scheme will bring us closer to SMEs and to other companies that are not carrying out data analysis because of the lack of experts.
• We will lay on a network of distribution partners to manage all the relationship with end-users
Financial
• AlchemyML is viable under the assumptions we believe acceptable and will generate value for shareholders

We think that is a profitable project and for that reason. We will also present this project to a SME Instrument Phase 2.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

AlchemyML is now a product that is beyond the state of the are in several aspects: is the only one that offers an end-to-end automation of the life-cycle of the data and it doesn’t require the presence of data scientists experts for its operation. These features will have the potential of disrupt the Machine Learning market bringing these technologies to all the companies, and specially to SMEs fostering their competitivity

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