Tuesday 1 June 2021 – causaLens, the creator of the world’s first causal AI platform, has won two consecutive grants from Innovate UK and Erasmus+. Innovate UK, the UK’s innovation agency, awarded the grant to causaLens to help retailers recover from the economic disruption of the COVID-19 pandemic and to optimize their businesses with dynamic product demand and supply chain predictions. causaLens has also partnered with the Safe4Play project, funded by the Erasmus+ Programme, which is using its Causal AI models to improve sexual health education.
The Innovate UK competition ‘Business-led innovation in response to global disruption’ attracted over 20,000 applications, with causaLens winning a grant for its application that uses its proprietary Causal AI platform to help retailers to quickly adapt their business to the rapidly changing commercial environment. In times of crisis, the demand for products changes wildly, as we have seen with toilet paper, pasta and mask shortages. One of the innovations delivered by causaLens is the ability of its deployed machine learning models to identify the causal drivers behind demand trends, and to model changing circumstances such as the eventuality of another lockdown or a change in government policy. This innovation will help retailers minimise product shortages and maintain adequate volumes of stock, resulting in a drastic, positive impact on their customers and helping retailers maintain their financial robustness.
causaLens has also partnered with the Safe4Play project, which is creating a mobile application that utilises innovations such as augmented reality to improve communication around sexual and reproductive education. causaLens is leveraging the unique capabilities of Causal AI to develop adaptive learning features that tailor the material delivered to the user based on their prior behaviour. The explainability of these models and ability to simulate counterfactuals helps users to understand which early interventions should be made to ensure they can achieve the most positive outcomes.
“We are very proud of causaLens’ involvement in these projects, which demonstrate the diversity of use cases for Causal AI and the opportunity to use AI for good. While each project is aimed towards vastly different objectives, both projects share the need for requiring functionality well beyond the capabilities of current machine learning approaches.”Darko Matovski, CEO and Co-Founder of causaLens
causaLens is pioneering Causal AI, a new category of intelligent machines that understand cause and effect – a major step towards true AI. Its enterprise platform is used to transform leading businesses in Finance, IoT, Energy, Telecommunications and others.
Current machine learning approaches, including AutoML solutions, have severe limitations when applied to real-world business problems and fail to unlock the true potential of AI for the enterprise. For instance, in the case of predictions, they severely overfit and do not adapt when the environment changes. causaLens’ Causal AI Platform goes beyond predictions, providing transparent causal insights and suggesting actions that directly improve business KPIs.
About Innovate UK
Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. They connect businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth.
Innovate fund business and research collaborations to accelerate innovation and drive business investment into R&D. Our support is available to businesses across all economic sectors, value chains and UK regions. Innovate UK is part of UK Research and Innovation. For more information visit www.innovateuk.ukri.org