Based in Camden, the Optalitix team consists of over 20 staff with backgrounds in data analytics and actuarial science. The company is currently helping businesses of all sizes to grow their business using AI and has acquired some impressive clients including GoCompare, United Trust Bank and Vitality Health.
Shapiro and Katz are both originally from Johannesburg and studied at the University of Witswatersrand before moving to London in the 1990s. Jonathan Shapiro ran Linksfield Technologies (named after a suburb in Johannesburg) for 13 years – a company which specialised in key Microsoft technologies before selling the company in June 2012.
Dani Katz completed his training at the Institute of Actuaries and spent eight years working for PruHealth (Vitality Health Insurance) in corporate actuary.
Shapiro and Katz collaborated in 2013 to launch Optalitix and continue to run the business to this present day. More and more companies are coming around to the idea of using AI in their business and how it can maximise efficiency and profits.
For Optalitix, this starts with collecting as much company data as possible, whether it is from their customers or their production (machines and daily processes). The team will interpret this data and find insightful information, which typically the business would not be aware of.
Optalitix will use this data to build models, and this use of AI can help create what is known as predictive behaviour and tell the business where it can be smarter. With machine learning solutions in place, Optalitix can build these models so that they can continue to learn and adapt to the changing demands of the business. The firm has processed over 20 million API calls to date and will help integrate their solutions in the customer’s business.
As a practical example, Optalitix has helped companies analyse their risks and underwriting more effectively, particularly in insurance and finance. The use of AI is able to highlight features of good customers and also those of bad customers, including fraud, and use this information for future enquiries.
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However, the AI proposition extends to all other industries and any business that could benefit from improved processes and production, including energy and oil, manufacturing, food production, tech, travel and more. For more information, visit Optalitix.com