Energy procurement technology firm Energi Mine has ‘appointed’ an artificial intelligence (AI) robot to its management board.
The Oldham-based company said Sasha (Strategy and Support – Human Analytics) will make algorithmic decisions leading to suggestions on trading and managing energy while also analysing sales figures and performance statistics.
“We already use AI software to trade and manage energy for clients – so bringing Sasha on to our management board is simply the next stage,” said chief executive Omar Rahim.
“We recognise that certain tasks can be done more efficiently by machines. Developed by data scientists from across the tech industry, Sasha’s input will be invaluable moving forward.”
Rahim said the energy procurement industry is still heavily manualised, with a “huge reliance” on a series of spreadsheets compiled by analysts – a process which takes time and can be expensive.
He added: “Our AI uses machine learning which means that our computer programs get smarter and smarter the more times they carry out a request.
“This results in more insightful analysis from data – ultimately leading to greater cost saving opportunities.
“Automating as many processes as possible means human errors are minimised. Lengthy processes that normally take up to two weeks to complete can be done within an hour.”
Energi Mine has recently been named as one of the world’s most exciting blockchain start-ups at Initial Coin Offering (ICO) Summit in Zurich, where Rahim launched the company’s new Energi Token.
The company is currently preparing to become the first UK business outside London to raise funds through a Token Sale, the new way for companies to raise money through cryptocurrency.