Fantix

While there is an abundance of data for big tech companies, this isn't the same story for SMEs. First party data is poor, meaning businesses see a small fraction of their consumers’ journey. All this ultimately puts them at a strong disadvantage—it’s estimated that poor data and insights costs businesses between $9-15 million a year. There is a huge opportunity here. Around 43ZB (1ZB is a trillion GB) of data sits idle across private companies, organisations, financial institutions, and payment platforms, around 1000 times more than that of all the Big Tech companies combined. Making this data accessible would unleash an ocean of knowledge that could dramatically enrich SMEs first-party data, truly levelling the playing field.

Fantix is building the first Federated Knowledge Engine (FKE), aimed at allowing companies to answer critical questions about their customers without exchanging any data. The solution isavailable for AI learning programs enabling organizations to collaborate on machine learning models without sharing sensitive data.

Federated AI is a rapidly growing market. Simultaneously, the problem of managing first party data is becoming more critical, given increasing privacy concerns and regulations. The timing for Fantix AI's entry into the market is ideal, due to the increasing demand for privacy-preserving machine learning solutions, growing public awareness and regulation, and the emphasis on first-party data and privacy-enhancing technologies.