The firm recently announced a £9 million seed funding round - largest ever for a British AI company's at seed stage - to bring what it describes as "superintelligence" to the energy industry.
Applied Computing’s flagship product - Orbital - has been built using multi-foundation AI powered by a new class of models built to optimise the physical world. The company's CEO and co-founder Callum Adamson said this was not just language models his team was talking about but also time series, physics and chemical engineering models delivering explainable AI that can be trusted in real-world applications.
Applied Computing claims Orbital utilises "100% of available data from downstream energy facilities" – compared to 8% captured by traditional methods – and is outperforming previously benchmarked state-of-the-art software by 90% in key metrics.
The company offered the attendees, present company included, a demo of Orbital in action. It appears to be going places in its bid to bring AI to the oil and gas sector, which, as Adamson noted, is the most "under-optimised industry on earth."
Applied Computing sees opportunities across the sector's value chain from refining and petrochemicals to upstream and LNG, although its current focus is on downstream.
Ahead of the demo, The Oilholic - as announced to the readers of this blog earlier this month - also moderated an industry panel discussion titled - Redesigning Energy: New Technologies Powering the Transition.
The panel explored the critical role of technologies such as the ones Applied Computing and its peers are marketing, as well as their potential to help reshape the future of energy, industry, and sustainability.
The all star cast of speakers included leading voices from across the world of energy, venture capital, and AI innovation to explore the insights, strategies, and technologies reshaping the energy landscape.
They included Kari Jordan, Founder of Leaps and Bounds, Ulrika Wising, Senior Energy Executive (a former Centrica, Shell & Macquarie executive), Eliza Eddison, Vice President of Operations at Applied Computing, and Fred Destin, Founder of Stride.VC, all of whom provided many invaluable insights that made for a riveting hour-long session.
Well that's all for the moment folks! More musings to follow soon. Keep reading, keep it here, keep it 'crude'!
