Graphite Note
Nominated Award:
Best Application of AI in a Startup
Website of Company (or Linkedin profile of Person):
https://graphite-note.com/
Our co-founder Hrvoje has been in business intelligence and data visualisation for almost 20 years. In the last couple of years, many clients started to ask business questions that can be answered only with AI algorithms. AI is not a buzzword anymore. People know (at least in general) what it is and what business value it can bring to their business. They know they want it and need it.
Artificial intelligence is one of the most impactful trends in business today, and more than 80% of companies say AI is a strategic priority.
Still, data scientists are very expensive, so SMEs can’t afford them.
Additionally, they usually don’t have the in-house expertise to do AI.
We think it’s time for all companies, SMEs included, to benefit from the AI and predictive analytics revolution.
So that gave us an idea: No-code AI and machine learning.
That’s how we came up with Graphite Note.
No-code development generally is a method of building applications without having to write code. This is made possible by no-code development platforms, which enable builders to use pre-configured blocks to create advanced applications.
**”Machine Learning isn’t about typing code. It’s about business value.”**
No-code machine learning removes programming and the need for a heavy skill set as the barrier between idea and value.
Our founding team has a background in data science and commercial outcomes, and this is key to our mission to bring AI and ML superpowers to everyday small and medium enterprises. We want to deliver a significant commercial impact starting with core business cases: – ***increasing sales lead conversion, predicting revenue, forecast product demand, and predicting customer churn***.
Furthermore, by creating Graphite-Note as a No-Code platform, we can optimise the impact that AI / ML can have on commercial outcomes. That allows us to train anyone on how to run machine learning data models to make predictive results very accessible with no barriers to entry or value.
In addition, we have combined No-Code Machine Learning + Data Storytelling in one platform. This approach transforms raw data into clear visual stories so teams can understand insights and go from planning to execution in no time.
Our promise is: from raw data to AI in minutes with no coding or data science skills required.
By enabling everyday users to embed AI/ML as a core business value, Graphite Note drives efficiency, focus, and improved outcomes.
Reason for Nomination:
“Data is the new oil” – we all hear this expression here and there. Like oil, data is valuable but cannot be used if unrefined. Oil has to be changed into gas, plastic, or chemicals to create value. In the same way, data must be broken down and analysed to have value.
And that is the problem today because the world faces a shortage of data scientists. They are expert teams that can give value to data with their machine learning and advanced statistical algorithms. McKinsey predicted that the U.S. alone would face a shortage of 250,000 data scientists by 2024. Today, ironically, we have plenty of data but a limited number of experts who can find insights and provide business value from that data.
For example, SMEs want to drive more revenue from existing leads and customers. They can do it with the power of AI, but they don’t have the skillset or talent.
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Graphite Note enables teams to use their customer data to identify sales leads with a higher probability of closing and highlight existing customers at risk of churn. Our pre-defined machine learning templates make it easy to leverage AI to provide accurate insights.
SMEs have massive amounts of data but are bad at using it to improve their business performance.
Machine learning is the most powerful technology for business since the internet. Still, almost no SMEs are leveraging it across their operations.
We knew this hypothesis had already been proven in larger businesses and scientific papers. There, data science teams and AI/ML tools were bringing value. However, this access was less available to SMEs and certainly not without data science skills.
That’s why we decided to develop a no-code platform so that everyday users could leverage the power of our pre-built, pre-defined models making AI/ML accessible in minutes.
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We’ve built a SaaS platform by using the following technologies:
Frontend: Angular
Backend: PHP
Machine Learning Backend: Python
Repository database: PostgreSQL
Our SaaS app is deployed on AWS.
Every technology we chose is a leading technology in its segment – the main reason we are using it.
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Machine learning is complex. Factors that make machine learning difficult are the in-depth knowledge of many aspects of mathematics and computer science. Plus, the attention to detail one must take in pinpointing inefficiencies in the algorithm. Machine learning applications also require careful attention to optimize an algorithm.
We encountered numerous data science projects during our careers, working for various industries on different topics. That know-how proved essential to productizing the most common applications of machine learning on business data. That step was challenging, going from an abstract idea (problem-solution) to an actual SaaS product that is easy to use.
We wanted to build a self-serve machine learning platform for everyday business users. To help business experts and engineers without a data science background to bring the power of machine learning to their data analysis. And that was hard. To turn something very complex into as simple as using excel.
We were focused on clarity and simplicity to enable non-technical people to get complex ML concepts quickly.
That means we had to put a lot of thought into user experience and user interface. We had to automate many tasks typically accomplished by a data scientist and pack everything into one powerful mouse click. And sometimes that was extremely difficult, from conceptual to design perspective.
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So today, we have created access to valuable business outcomes for everyday users in minutes with no data science skills required. Right now, we are focused on embedding AI/ML as a core growth enabler with our customers and prospects so that it becomes as accessible to every SME as a CRM tool or excel is.
This product will disrupt how SMEs perceive machine learning and how they do business. Instead of a hunch and gut feeling approach, SMEs will become truly data-driven. That, in turn, will tremendously positively affect their business and economy. There are approximately 400 million SMEs that are the backbone of economies around the world.
For example, SMEs will leverage internal company data to focus on sales leads with a higher probability of closing, driving higher sales productivity, better use of marketing and sales budgets, and turning data into predictable outcomes in minutes!
Files:
https://aiawards.ie/wp-content/uploads/ninja-forms/4/Graphite-whitepaper-How-Automation-in-Machine-Learning-And-Data-Storytelling-Can-Overcome-The-Shortage-Of-Data-Scientists.pdf