Velrada partners with Microsoft on AI

Perth-based Velrada is set to partner with tech giant Microsoft and ASX-listed LiveTiles as part of a program to accelerate the uptake of artificial intelligence across industries such as mining, energy and financial services.

Velrada was invited, along with ACT-based Veritec and Melbourne IT company Engage Squared, to partner in the Global AI Spark program.

The program has been designed by LiveTiles and Microsoft and aims to lift the AI capabilities of participating Microsoft partners, so that they are able to develop and deploy AI solutions for their customers and prospects around Australia.

Velrada president global analytics and AI Dan Hookham detailed some examples of the company’s plans for AI.

“We are deploying very exciting solutions today in areas such as engineering including the application of AI machine learning to the development of engineering solutions; resources in areas such as asset condition monitoring and predictive maintenance; and areas such as HSEC to use data driven approaches to build intelligent models of real world behaviour and risk management,” he said.

“We have even developed an AI-based ‘bot’ to aid a professional services client with graduate recruitment.”

Following the Australian launch, Velrada will take the initiative to global markets, in particular Europe and the US.

Velrada managing director Saul Sabath highlighted the impact AI could have across the economy.

“The transformative nature of AI in all industries can’t be under estimated,” he said.

“As these technologies become mainstream and accessible on a service based consumption model, they can be built into the lowest level of business operations.

“Microsoft is a clear leader in the data and analytics space and provides us a platform to build and integrate client specific solutions that do everything from optimizing transport schedules to analyzing and learning patterns of complex engineering solutions and significantly reducing the time, variability and ultimately the cost of construction and asset maintenance.”

The news comes after Velrada secured the 2018 Microsoft Dynamics 365 for Field Service Award, which recognises excellence in solutions and services based on Microsoft’s Dynamics 365 technology.