Connect with us

Artificial Intelligence

Acoustic Wells wins 2019 MIT $100K Entrepreneurship Competition

Vlad Poptamas

Published

on

The Acoustic Wells team beat out seven finalists to win the Robert P. Goldberg $100,000 grand prize at the MIT $100K Entrepreneurship Launch Finale. Holding the check are, from left, Charles-Henri Clerget, Sebastien Mannai, and Louis Creteur.
Reading Time: 4 minutes

 

Acoustic Wells, a startup born in a laboratory at MIT that has created a new internet of things (IoT) control solution for oil wells that optimizes production while drastically reducing methane emissions, beat out seven finalists to win the Robert P. Goldberg $100,000 grand prize at last night’s MIT $100KEntrepreneurship Launch Finale held on the MIT campus.

Now in its 30th year, the MIT $100K Entrepreneurship Competition is an economic barometer for sectors of innovation that are receiving funding by venture capitalists. To date, the MIT $100K has facilitated the birth of more than 160 companies, which have gone on to raise $1.3 billion in venture capital and build $16 billion in market capitalization. More than 30 MIT $100K startups have been acquired by major companies, such as Oracle, Cisco, 3M, and Merck. Over 4,600 people are currently employed by MIT $100K companies. Recent IPOs include Akamai (AKAM) and Hubspot (HUBS).

A major challenge in the operation of oil and gas wells is the ability to monitor the operating conditions and health of pumping equipment without the need for prohibitively expensive equipment or daily inspections. To address this issue, Acoustic Wells has developed a patent-pending, acoustic-based control method that is capable of determining precisely down-hole conditions using a simple and affordable surface sensor. Acoustic Wells’ simple plug-and-play hardware processes the data at the edge and seamlessly connects to their cloud platform using long range IoT networks. Artificial intelligence algorithms automatically monitor the pump operation and optimize the production by adjusting the pumping rate while also predicting potential critical failures of the system.

Acoustic Wells’ founding team members are:

Dr. Sebastien Mannai, CEO, MIT PhD 2018 in Aerospace Engineering. He is currently engaged in postdoctoral work on AI signal processing in the Gas Turbine Laboratory of the Aerospace Department at MIT.

Dr. Charles-Henri Clerget, COO, who is currently engaged in postdoctoral work in the Earth Resources Laboratory with the Mathematics Department at MIT where he focuses on the big data analysis of drilling operations.

Louis Creteur, CTO and an industrial automation solution specialist who currently serves as IoT and Cloud Architect at Leanbox.

“We bring cutting edge technology in a simple package to help every oil and gas producer optimize their assets while reducing their emissions,” says Dr. Mannai.

A panel of judges chose Acoustic Wells based on value creation, value capture, and technological differentiation. Judges included: TJ Parker, Co-Founder & CEO, PillPackMira Wilczek, President & CEO, Cogo LabsThomas Collet, President, CEO & Director, Phrixus PharmaceuticalsTanguy Chau, Venture Investor; and Katie Rae, CEO & Managing Partner, The Engine.

$10,000 Audience Choice Award was presented to The Read Read, one of the finalist teams. The Read Read has created a patent pending physical device that allows blind and low-vision children to independently learn phonics and braille, and gain early literacy to keep pace with their sighted peers. Users simply touch the braille and large-print letter manipulatives, and get immediate audio feedback. It was developed at the Harvard Innovations Lab, and piloted at the Perkins School for the Blind and the Harvard Graduate School of Education.

Six additional finalists included:

AgroBeads® are biodegradable spheres made from natural ingredients that hydrate plants according to their needs and support their growth and healthy development. Plants not only grow, but they do it faster, and healthier. AgroBeads® does not pollute the environment, improves the chances of germination, and contributes to the development of technologies that impact public health.

Mechanodontics is a new method that can be used instead of braces or aligners that moves teeth independently. Placed behind teeth so they cannot be seen, this method considerably shortens treatment time, allows for easier cleaning than traditional braces, and is more comfortable. This technology, which employs state-of-the-art simulations, allows orthodontists to apply the optimal amount of force to each tooth, easily fixing even complicated mal-alignments that are not correctable with aligners.

Myco Diagnostics is creating low-cost, robust medical diagnostics, using thermostable binding proteins to capture disease biomarkers from patient samples. They are producing point-of-care assays for the detection of urine-based biomarkers of tuberculosis, allowing them to address patient groups ill-served by traditional TB tests.

Posh offers a bot-creation platform using patent-pending technology that makes it easy to tailor a custom chatbot to meet companies’ needs. Not only can Posh answer company FAQs, but it can also help a company’s customers manage their accounts and convert prospects into sales. Posh does this while interacting with customers via the channels they prefer: across text, voice, social media and the web.

Qtech The team’s MIT-educated scientists have invented 3D Nano structured air filters that provide 20x filtration performance, 10x lifetime, and are recyclable at an estimated similar cost of a traditional HEPA filter. Filters catch not only flower pollens, but also bacteria and even viruses, and there is no need for replacements in years.

Stratagen Bio develops oxygen sensors to enable personalized cancer therapies, addressing the unmet clinical need of identifying low-oxygen treatment resistant tumors. They are enabling physicians to identify which cancer patients require a customized treatment to overcome resistance and improve outcomes and survival.

John Harthorne, a founder and former CEO of MassChallenge, served as the keynote speaker. Harthorne’s team, Robopsy, won the MIT $100K in 2007. He and Akhil Nigam went on to co-found MassChallenge, a not-for-profit, in 2010. Based on the MIT $100K model, their zero-equity startup accelerator has since gone global and has accelerated 1,975 startups that have raised more than $4.3 billion in funding, generated more than $2.5 billion in revenue, and created more than 121,000 total jobs. Harthorne now serves on MassChallenge’s Global Board of Directors.

Since its debut as the MIT $10K Entrepreneurship Competition in 1989, it has grown to include three independent contests – PitchAccelerate, and Launch – from September through May. Each contest focuses on developing specific founding skills. For each semi-finalist contender, the MIT $100K brings together a network of resources that includes mentorship from venture capitalists, serial entrepreneurs, corporate executives, and attorneys; media exposure; prototyping funds; business plan feedback; and discounted services. Altogether, almost $1M in non-dilutive prize money and other financial resources are awarded to help these new ventures accelerate. For more on the MIT $100K, please visit: www.mit100k.org

SOURCE MIT Sloan School of Management

Hello!


Thank you for visiting my profile and thank you for reading my news and published press release!


There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
veral categories and as I've mentioned, during my spare time, I am also a professional photographer with webdesign skills.

My future plans include developing more journalistic skills and start creating investigative journalism. You can find my reports and press release coverages in the following categories:


BANKING/FINANCIAL SERVICES, COMPUTER ELECTRONICS, AUTOMOTIVE, CONTRACTS, ANALYSIS, INTERNET TECHNOLOGY, BIOTECHNOLOGY, BLOCKCHAIN, ACQUISITIONS, RETAIL, and many more.



You can get in touch to discuss interviews or possible article submissions by contacting us.


Let's also connect via social media! You can find me on Facebook or visit my photo portfolio.

Artificial Intelligence

Personetics Puts the Power of AI in the Hands of Bank Relationship Managers and Agents With Personalized Insights and Advice Available via Salesforce and Microsoft CRM

Vlad Poptamas

Published

on

Reading Time: 2 minutes

 

Personetics, the leading provider of AI-powered personalization and customer advocacy solutions used by the world’s top banks, announced today that its data-driven actionable insights will now be available for bank relationship managers and agents.

In addition to a rich set of insights to empower bankers at the branch and contact center, the solution includes built-in integration with popular CRM solutions by Salesforce and Microsoft. Banks that use other CRM system will be able to use the solution through Personetics-provided APIs.

Omnichannel AI-Powered Insights and Advice

Empowering bank front-line employees with personalized insights and recommended actions for their customers is an extension of the capabilities already delivered by Personetics directly to consumers and small business customers via the bank’s online and mobile channels.

“Personetics has always focused on helping banks bring a higher level of personalization to the customers through AI,” said Dorel Blitz, VP Strategy and Business Development at Personetics. “By making our solutions available to relationship managers in branches and agents at the contact centers, we help banks anticipate customer needs, provide personalized insights and advice, and enhance the customer experience”.

Even as banking interactions become increasingly digital, many customers still rely on their banking relationship managers for advice and guidance. With timely insights at their fingertips, bankers can proactively help customers stay on top of their finances:

–  Alert customers to potential issues with their accounts (e.g., suspected duplicate charges, balance too low to cover upcoming expenses and payments)

–  Highlight opportunities to improve their financial wellbeing (e.g. excess funds in checking account that can be moved into savings or investment accounts)

–  Offer high value products and services personalized to each user needs (e.g., overdraft protection, short-term loan, better suited reward card)

“While banks continue to invest in their digital capabilities, the branch and contact center continue to play an important role, offering customers multiple points of service,” said Bob Meara, Senior Analyst, Celent. “Enabling bankers to provide AI-powered personalized advice that is synchronized with the insights delivered directly to customers helps create a seamless experience across all channels and improve in-person customer engagement.”

Increasing Banker Productivity at the Branch and Call Center

As banks across the globe consolidate their physical footprint, improving the productivity of resources at the branch and call center becomes increasingly important. The Personetics solution provides multiple ways to deliver such productivity enhancements:

–  Optimizing the banker’s outreach to customers by prioritizing the most promising opportunities to engage based on real-time analysis of each customer’s financial situation and recent activities

–  Providing bankers with insights that can inform and enrich their conversations with customers – either for inbound inquiries or outbound outreach

–  Enabling the banker to deliver personalized offers and service based on customers’ financial activity

–  Showing the banker which insights have been delivered directly to customers and whether the customer viewed or responded to these insights

“While many doomsday predictions have painted the advance of AI in banking as a job killer, we view AI as an enabler that can complement and enhance banker interactions,” said Danny Vatnik, Chief Technology Officer at Personetics. “By putting the power of AI in their hands, we help bankers be more effective and deliver higher value in their communication with customers.”

 

SOURCE Personetics

Continue Reading

Artificial Intelligence

Protiviti CEO Joseph Tarantino and Executive Vice President Brian Christensen Named to the 2019 NACD Directorship 100 List

Vlad Poptamas

Published

on

Photo source: videoblocks.com
Reading Time: 2 minutes

 

Joseph Tarantino, president and CEO of global consulting firm Protiviti, and Brian Christensen, executive vice president and global leader of Protiviti’s internal audit and financial advisory practice, have both been named to the NACD (National Association of Corporate Directors) 2019 Directorship 100™ list.

The NACD list recognizes leading corporate directors, corporate governance experts, policymakers and influencers who significantly impact boardroom practices and performance. Honorees will be celebrated at the annual NACD Directorship 100 gala dinner on June 26, 2019 in New York City and featured in the July/August 2019 edition of NACD Directorship magazine.

“Brian and I are truly honored to be recognized by the NACD,” said Tarantino. “We’re committed to helping boards and business leaders fulfill their governance responsibilities as effectively as possible, especially with today’s increasing spotlight on ESG matters.”

Tarantino has held the role of Protiviti president and CEO since 2007 and was a founding leader of the firm in 2002. He has more than 30 years of experience working with a variety of organizations to enhance their business performance through risk management, operational effectiveness and enhanced governance. He was previously named to the NACD Directorship 100 list in 2017 and 2018. Tarantino has been recognized three times by Glassdoor as one of its Top CEOs, amongst several other accolades. Currently a member of St. John’s University’s board of trustees and chair of the audit committee, he also serves on the board and finance committee for Calvary Hospital in the Bronx, New York.

Christensen is a founding managing director of Protiviti and a member of its executive leadership team. He has more than 30 years of experience in helping clients increase the value of their internal audit function by successfully managing risk, monitoring controls, enhancing security and improving corporate governance. Christensen works with global clients to develop next-generation internal audit competencies such as agile auditing, artificial intelligence, machine learning and robotic process automation. In 2017, he was named one of Consulting magazine’s Top 25 Consultants. Christensen is an acknowledged expert in the profession, serving as the president-elect of the Internal Audit Foundation, a 501(c)3 thought leadership organization supporting The Institute of Internal Auditors and over 200,000 members on leading topics in the field of internal audit. He has also served on the boards of several non-profit organizations.

Nominees are solicited from NACD’s constituents, including the NACD board of directors, previous honorees, NACD chapter leaders, advisors and the general membership. The slate of nominees is presented to an independent committee that makes the final selections. The NACD board of directors then ratifies the committee’s selections.

 

SOURCE Protiviti

Continue Reading

Artificial Intelligence

Department of Homeland Security Chief Information Officer Tours San Diego Tech Companies, Hosted by Cyber Center of Excellence and San Diego Regional EDC

Vlad Poptamas

Published

on

Photo source: acg.org
Reading Time: 2 minutes

US Department of Homeland Security (DHS) information technology and cybersecurity leadership – including more than 30 senior federal personnel from government and military – are touring six tech companies located in San Diego on June 24 – 25, 2019.

With support from San Diego’s Cyber Center of Excellence (CCOE) and San Diego Regional Economic Development Corporation (EDC), the tech tours allow participants to witness how San Diego and the surrounding region continues to evolve as a technology and cyber hub within the United States.

While many San Diego companies were considered for this visit, CCOE and EDC tapped six companies to highlight a cross section of new technologies in the region to include Qualcomm, Redhorse, Shield AI, Teradata, Analytics Ventures and Walmart Labs. The collective group will demonstrate everything from artificial intelligence and machine learning to 5G, data analytics and cybersecurity.

Dr. John Zangardi, the DHS Chief Information Officer (CIO), whose office is jointly leading this outreach trip with the DHS Science and Technology (S&T) Directorate, says that he sees “industry engagement as vital to ensuring the DHS mission takes full advantage of the best industry has to offer.  There are exciting advancements in 5G, IOT, ML/AI and cyber that we want to learn more about.  And I want to ensure that industry understands the DHS mission challenges.”

“The Science and Technology Directorate seeks opportunities to make connections, share ideas, and discuss best practices and new capabilities with cybersecurity professionals from across government, industry, academia and the international community,” notes William N. Bryan, DHS Senior Official Performing the Duties of the Under Secretary for Science and Technology. “Through this series of tours, we hope to learn from companies that are advancing their capabilities in cybersecurity to better inform our efforts to build a secure and resilient cyber backbone for the nation and address the complex threats of our future.”

Rear Adm. (ret) Ken Slaght, CCOE chair and president, emphasized that visits like this provide new perspective on cybersecurity and cyber readiness.

“We’re excited that San Diego is being recognized by national IT leaders,” said Slaght. “For Dr. Zangardi, Mr. Bryan, and other high-ranking federal IT leadership to take an interest in what San Diego continues to do to support innovation and technology development means a great deal. San Diego plays a significant role in cyber preparedness for the nation and will continue strengthening these efforts well into the future.”

The DHS CIO and S&T tour highlights the importance of collaboration between the public, private, academic, government and military sectors to foster greater cybersecurity, and is a component of CCOE and the City of San Diego’sSecure San Diego initiative, which fosters region-wide efforts to create a more secure cyber environment and position San Diego as a global hub of cybersecurity innovation.

 

SOURCE Cyber Center of Excellence

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off