29. January 2021

SCCH: AI Identifies Promising Start-ups

At Software Competence Center Hagenberg (SCCH) a research approach has been developed in which “explainable” artificial intelligence (AI) is used. With it, Speedinvest Heroes Consulting GmbH finds promising start-ups.

The approach developed on the project inAIco “interpretable AI correction” supports Speedinvest Heroes Consulting GmbH with identification of the most promising start-ups. The company was looking for a way to predict the probability of start-ups’ success. The predictions were also to take psychological profiles into account as a way of backing up the decision on the most worthwhile investment. The success of a founders’ idea depends not only on a good business model but also on the cognitive skills needed for processing information, decision-making and learning, and a strong motivation to perform well. The new approach was then adopted for the “inAIco” project in order to be able to make the best possible recommendations.

“Explainable artificial intelligence” (XAI) aims not only to improve the accuracy of predictions by using learning algorithms for artificial intelligence (AI), but also to be in a position to provide interpretations for a better understanding of the corrections. “A school pupil who gets a corrected essay back from the teacher will not learn anything if the mistakes are only underlined,” says SCCH project manager Florian Sobieczky. “But if the teacher explains how the mistakes can be avoided next time the pupil has a decisive additional benefit. That’s why, instead of correcting the model, we describe the modification.” If decisions can be explained, they will be trusted. The XAI principle can be used wherever there is well-founded basic knowledge of the problem to be solved.

At the end of 2020, the project won the award for the “Best Service Innovation” paper at the International Conference on Industry 4.0 and Smart Manufacturing (ISM)”. This prestigious award is presented by the International Society of Service Innovation Professionals (ISSIP) in association with IBM to the best scientific paper on promoting service innovations in industry and in general.

Pictures:

  • Picture 1: Dr.in Manuela Geiß und Dr. Florian Sobieczky (Copyright: SCCH)
  • Picture 2: Lukas Rippitsch MSc, Managing Director Speedinvest Heroes Consulting (Copyright: Speedinvest Heroes Consulting GmbH)