Issue 8 2020

18 Acquisition International - Issue 8 2020 Company: AI.io Contact: Terence Mills Web Address: www.ai-io.io he use of Big Data has become increasingly important in the last few years, with companies leveraging whatever information they can access to provide a better service to clients, customers and users. Of course, making the most of this information is the challenge to companies, and the team at AI.io has been at the forefront of this development. Led by six-time CEO Terence Mills, AI.io has broadened the scope of AI to businesses and enterprises, developing new and exciting ways of using this technology in a range of different environments. While many companies are investigating new ways of exploring the framing of AI, able to process millions of data points in seconds, AI.io has specialized in applying this ability to specific circumstances. This combines what is known as Black Box AI and Apps to create White Box AI. White Box AI is the final product, the use of technology with a clear purpose. With the ability to be both private and protected, White box AI is able to create the understandable, explainable, and accountable results that are key to success. The application of this process, therefore, has been vital to the success of AI.io . The team currently specialize in three different areas, drawing on the information that is available to offer customers results that cannot be found anywhere else. In healthcare, for example, the sheer amount of data available is overwhelming, with the need to ensure that it is collated carefully at the heart of the process. AI can be used to scan patient records and convert them into a machine- readable format. Currently, the team at AI.io have been able to hone this process to 95% recognition accuracy from a PDF. With so many healthcare facilities still using paper records, with the association costs of storage and difficulty in converting to digital, it’s little wonder that this service has become more and more popular. The team have also proven themselves in the world of travel, teaming up with partners Priceline (now Booking.com), Google, and Wex to create a true industry first. Halo is the first AI driven intelligent chatbot and is set to be a revolution in the travel field, as it answers the difficulty of booking airfare and hotel, complete with virtual payments. While booking with the voice was once a process that stopped at the payment point, AI.io has developed a system that reshapes what AI can do by building relationships with travellers to identify patterns and trends, creating a personalized booking experience. AI has potential applications in the entertainment industry too. The perfect example is Broadway shows. Investors have long struggled to settle on sure-fire hits in this arena, often wiping out thanks to T AI has already begun to revolutionize every aspect of our lives, with the potential offered by this new technology still relatively untapped. A company that is heavily invested in the development of AI and its uses throughout different industries is AI.io . Recently recognized as the Most Innovative AI-Powered Enterprise Solutions Firm – 2020 in Acquisition International’s Global Excellence Awards, we look more closely at AI.io to discover more about the unique service they consistently provide. An Innovation in Artificial Intelligence With the ability to be both private and protected, White box AI is able to create the understandable, explainable, and accountable results that are key to success. Jun20128 decisions that only seem poor in hindsight. The use of AI can take all factors into account when considering if a production will be a success or not. Variables such as a show’s director, cast, theatre, time of year, music team and production team are all taken into account when making judgements. This represents a tremendous leap forward that could transform the industry. Between these three projects, bound by the latest in technological steps, is just a taste of what a business like AI.io can provide to businesses. It sets an amazing precedent for the future. As businesses continue to push forward, it is essential that they find new ways of using new technology. AI is unique, in that it can be of immense benefit to enterprises at every stage of the business process. With an uncanny ability to find applications for AI, it’s no surprise that AI.io has quickly grown into one of the industry’s biggest success stories.