London, 3rd Jan 2022
Today, Zinia announced that it won the Smart UK Innovate grant award for a project to further advance its AI platform. The project will extend The Zinia, no-code, AI platform for Streaming AI and Hyper Explainability for SME lenders to optimize the price of credit for sub-prime customers; enabling safe and fair access to credit, meeting the growing demand from households crushed by the pandemic.
“In a world ever more reliant on data-based predictions and decisions, the current post-pandemic situation demands that AI systems grapple with scarce data generated from new, unexpected circumstances. As an example, the low interests provided by BOE do not translate into lower credit pricing for sub-prime customers as risk assessments are based on historic credit scores. These customers are often served by SME lenders who need powerful AI technology to assess risk and precisely price their credit products”, said Aashutosh Mishra, Zinia’s CEO.
With emphasis on the current market situation, within this project, Zinia will build dynamic AI solutions that self-learn and adapt in changing customer situations and build models/decisions from scarce and streaming datasets, such as those obtained from newly encountered rare-event data. Zinia’s Chief Scientist Professor Alessandro Abate said, “The features of explainability and adaptive on-line learning integrate well with the core vision of our product and have been indeed within the Zinia product roadmap. With this prestigious funding from Innovate UK, we can prioritise the development of these features much more proactively, and further differentiate ourselves in offering data-light, intelligible and flexible AI solutions”. “This will broaden Zinia’s reach to more variety of use cases and industries,” he added.
Zinia, (www.zinia.ai) enables organizations to optimize their business outcomes with Human-centered AI. Zinia AI platform lets organizations build advanced AI with minimal training and without acquiring deep technical expertise for fastest value monetization. Zinia is an award-winning start-up backed by marquee investors, serving customers in multiple industries and geographies.