Periodic Reporting for period 1 - SimplyData (Unlocking unstructured data towards intelligent wotk automation for the banking industry)
Reporting period: 2019-05-01 to 2019-08-31
SimplÿData is a cognitive computing software, which combines semantic technology and machine learning to simulate the human ability to read and understand language. SimplÿData is built on top of our AI core providing the means to read documents, and extract data points to automate business tasks. SimplÿData machine learning platform transforms unstructured data into structured data sets ready for smooth downstream processing.
The objective for the Feasibility Study of Phase 1 project is to secure the technical/commercial viability of SimplÿData.
The objective for the Feasibility Study of Phase 1 project is to secure the technical/commercial viability of SimplÿData.
We have carefully provided an integration and validation plan of all the SimplÿData components, its main technical upgrades required (Autonomous service model, data security and the optimisation of the semantic framework for suitable scale-up. To have a successful market uptake and establish the desired leading position, we have strategically planned a feasible and realistic roadmap for the next 2 years’ work to optimize our technology and to attain commercial deployment and expansion, taking into account a detailed risk assessment and a mitigation plan accordingly. Commercially, we have assessed the best go-to-market strategy in terms of investment required, geographic issues, timing, breakeven and ROI to elaborate a detailed 3-year business plan for each target market and application. We have advanced into the partnerships, mainly with system integrators and RPA developers. Once successful product interoperability and integration is achieved, the Parties may engage in mutually agreed-upon sales and marketing activities for the purpose of identifying business opportunities for both Parties.
In contrast to RPA and BPM, SimplyData deals with automating complex cognitive tasks that, until recently, were well beyond the reach of software. The technological foundation and enabler of SimplÿData is the semantic modeling and ontological engineering + Artificial Intelligence. The confluence and advancements of AI fields such as Knowledge Representation, Automatic Reasoning, Natural Language Processing and Understanding (NLP/NLU), Perception (i.e. Image Processing), and to a lesser extent Machine Learning, have made possible this nascent industrial revolution in the workplace.