An innovative SaaS platform that makes privacy-assured generative AI simple, predicted to save 70% of employee time spent on labour-intensive tasks
Lead Participant:
BOND180 LIMITED
Abstract
Encloud is a UK-based professional-service, financial-service and finance-technology SME led by Phil Holbrook (project manager), Parth Shukla (technical lead), Igor Lobanov (technical architect), Jack Yan (product lead) and Ashna Gemani (testing lead).
Although generative AI increases business productivity dramatically, firms cannot securely deploy data, leading to poor model outputs and causing businesses to forgo billions in productivity gains. This erodes competitiveness, service quality and revenues. Data breaches have occurred in 40% of businesses, impacting millions of customers. UK SMEs with insufficient technical expertise and resources are predominantly affected. Moreover, this problem affects regulated and professional industries dramatically, given the resulting data-leakage reputational impacts. Cybercrime is anticipated to reach £6.25T, imposing risks to everyone and directly and indirectly (due to reduced data deployment) decreasing GDP considerably.
Encloud has noted this unmet need and is developing the world's first flexible, interoperable and secure SaaS platform that makes privacy-assured generative AI simple, customised for professional-service, financial-service and finance users.
This platform enables businesses to deploy high-risk data safely, saving 70% of employee time spent on manually intensive tasks such as reconciliations. Encloud's solution is simple and flexible due to its modular design and user-focused interface, leading to ease-of-deployment and reducing security costs. With this product, the UK has the potential to save millions of pounds and improve access to professional services for small and underserved regional businesses. Other benefits include more value-added workloads, higher quality professional services, improved operating performance, compliance and privacy.
Overall, data management and security are top challenges in the world today. This solution directly aligns with the UK government's digitisation and AI-safety initiatives. This is a timely opportunity because enterprise-AI adoption is accelerating, leading to data leaks and triggering a regulatory response in the European Union.
Although generative AI increases business productivity dramatically, firms cannot securely deploy data, leading to poor model outputs and causing businesses to forgo billions in productivity gains. This erodes competitiveness, service quality and revenues. Data breaches have occurred in 40% of businesses, impacting millions of customers. UK SMEs with insufficient technical expertise and resources are predominantly affected. Moreover, this problem affects regulated and professional industries dramatically, given the resulting data-leakage reputational impacts. Cybercrime is anticipated to reach £6.25T, imposing risks to everyone and directly and indirectly (due to reduced data deployment) decreasing GDP considerably.
Encloud has noted this unmet need and is developing the world's first flexible, interoperable and secure SaaS platform that makes privacy-assured generative AI simple, customised for professional-service, financial-service and finance users.
This platform enables businesses to deploy high-risk data safely, saving 70% of employee time spent on manually intensive tasks such as reconciliations. Encloud's solution is simple and flexible due to its modular design and user-focused interface, leading to ease-of-deployment and reducing security costs. With this product, the UK has the potential to save millions of pounds and improve access to professional services for small and underserved regional businesses. Other benefits include more value-added workloads, higher quality professional services, improved operating performance, compliance and privacy.
Overall, data management and security are top challenges in the world today. This solution directly aligns with the UK government's digitisation and AI-safety initiatives. This is a timely opportunity because enterprise-AI adoption is accelerating, leading to data leaks and triggering a regulatory response in the European Union.
Lead Participant | Project Cost | Grant Offer |
|---|---|---|
| BOND180 LIMITED | £492,390 | £ 344,673 |
People |
ORCID iD |
| Philip Holbrook (Project Manager) |