Better Futures, an early-stage artificial intelligence focused start-up, has today (Thursday 27 June) announced it has secured €500k in pre-seed funding from angel investors.
The company will use the funding to accelerate the roll-out of EVATM, its novel AI Assistant and Platform for engineers and manufacturers.
EVATM (Engineering Virtual Assistant) enables engineers and manufacturers to successfully adopt AI in an innovative approach with the potential of 10 times reduction in lead times, costs and associated risks.
The announcement comes as most engineering and manufacturing leaders have struggled to adopt AI as the 'entry level is too high.' To successfully implement classical data analytics use cases such as predictive maintenance into production requires significant upfront investment of time, money and resources. The result is that the potential of AI has been limited to a small percentage of companies and departments with the resources and access to the right knowledge and experts.
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Leveraging Large Language Models (LLMs) and the GPT technology breakthrough, Better Futures has developed and launched EVATM, a novel assistant and platform to solve this problem with AI adoption.
EVATM enables engineers to identify tailor fit AI use cases and then rapidly deploy AI assistants to access the relevant data and knowledge from across their organisations at the press of a button, in real-time and in context, saving time and money.
Better Futures, headquartered at NovaUCD in Dublin, was founded in 2023 by Anthony Mc Loughlin. He has a 15-year background combining data science, rocket science and business development to help manufacturers such as Airbus, Mercedes and Rolls Royce successfully adopt generative design, advanced analytics and AI.
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Anthony Mc Loughlin, the CEO and Founder of Better Futures, said: “This pre-seed funding will help us accelerate the roll-out of EVATM in our initial target markets of Ireland, the UK and Germany, but our goal is to roll out EVATM to engineering and manufacturing leaders worldwide. To achieve this goal, we will be looking to close a seed funding round later this year.”
“The adoption of AI into manufacturing and engineering is critically important for all our futures. It is happening but it is very niche and painfully slow. The good news is that with LLMs and the GPT breakthrough we can solve this problem and bring 10x scale and acceleration to this important movement. LLMs as incredible as they are, are ‘just’ the engine. Engineers and manufacturers need dedicated ‘AI Assistants’ to solve their problems and that integrate into their complex ecosystems of expert knowledge, regulations, data and IT systems.
“We built EVATM to bridge and automate these gaps. To start we focused first on solving the most urgent problem, getting the 96 per cent of engineers and manufacturers from zero to a first AI successful deployment. We encourage engineers and manufacturing leaders to give EVATM a try for free on our website, it is a unique different approach.”
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