Mind Foundry: AI for high-stakes applications
In the era of big data, the ability to extract meaningful insights from vast amounts of information is paramount. However, the complexity of AI and machine learning has largely confined its use to specialists - and its reputation for ethics and transparency is often in question. Mind Foundry breaks these barriers with its Responsible AI Platform that empowers organisations to create, implement and monitor their AI models at scale.
Founded in 2016 by world-leading Oxford scientists Professor Michael Osborne and Professor Stephen Roberts - two experts synonymous with the field of machine learning - Mind Foundry’s stated mission is to create a future where humans and AI work together to solve the world’s most important problems.
In its short history, Mind Foundry’s AI work has brought a range of economic, environmental and societal benefits. Its applications include:
- analysing sound recordings of mosquitoes buzzing to track the movement of malaria-carrying species - and save lives
- accelerating quantum computer calibration with an intelligent algorithm that resulted in a 100x speed increase
- helping a large retail bank to analyse free-text form entries, saving time and money
- optimising the design of experiments in the chemical processing industry, maximising the quantity of chemicals produced and minimising costs
- monitoring complex in-flight propulsion systems by enabling the compression of data and solving a company’s bandwidth bottleneck
- developing tools to help clients assess the carbon impact of their own AI models.
Mind Foundry’s technology has been particularly beneficial for the insurance, public, and defence and security sectors, driving change ross these fields and beyond. Its work with the Scottish government on data-driven decision-making, for example, has informed the country’s national AI strategy. In the insurance sector, meanwhile, Mind Foundry has helped companies stay one step ahead of fraudulent claimants and better understand risk throughout their portfolio.
It’s a long list of successes that will - like our use of AI and machine learning - only keep growing.
Impact
- 286 end users
- Increased detection of fraudulent claims at major insurance company AND-E by 120%
- Increased referrals retained by AND-E’s insurance fraud department by 800%
- Saved 2% on AND-E’s capped indemnity spend in 2022 – tracking to double that in 2023
Mind Foundry’s stated mission is to increase access to AI that can radically transform our world for good.
OUI activities
- Company creation & growth
- IP identification and protection
- Contract negotiation
Case study categories
- Software
