LEAK-detecting AI which was developed in the UK water sector has earned its creators a top spot in the rankings of global tech innovators.
FIDO Tech Ltd, an Oxford-based software firm, was named runner up in KPMG’s first ever Global Tech Innovator contest held at Web Summit in Lisbon.
The company’s pioneering FIDO AI emerged from the Innovation Lab of UK water company United Utilities in 2019 and is the world’s only tech able to find leaks, their size and exact location through acoustic analysis of any file.
As KPMG’s reigning top Tech Innovator in the UK, FIDO Tech was one of 17 country winners from around the world to take part in the global competition.
The GTI overall winner was Brazilian firm Krilltech AgTech which uses nanobiotech to increase crop productivity and quality.
But judges named FIDO Tech as runner up noting its commitment to sensor agnostic and open data principles as a means to overcoming traditional barriers to adoption – like including free hardware for areas without sensors.
Victoria Edwards, CEO and Co-founder of FIDO Tech said:
“Winning this accolade in the same week as the UK hosted the COP26 UN Climate Change Conference is a boost for us and it cements the UK water sector’s reputation a global leader in innovation and leakage detection.
“The competition highlighted AI’s power to transform humanity’s response to enormous problems at a time when it couldn’t be more pressing.
“In 2021, one in three glasses of the world’s expensively and carbon-intensively treated drinking water vanishes before it ever reaches our taps. Tackling leaks has to be a top priority for defending our piped communities from Day Zero.
“Until now it’s been too hard to do. More than 90% of leaks never show above ground and the acoustic technology used to find them has relied on human judgement. FIDO AI removes human error and does something no human can – it detects the size of leaks just by listening to them. We are sensor agnostic and open data. This is huge. It means utilities can address the leaks that matter on any network – smart or not.
“KPMG judges recognised this potential impact for climate change adaptation and mitigation. It’s a huge validation to be rated in the top two technology firms to watch and great international exposure for FIDO AI.”
Kevin Smith, Partner and Global Co-Leader of the KPMG Private Enterprise Emerging Giants Centre of Excellence, said:
“This has been an unprecedented year for KPMG Emerging Giants and the Global Tech Innovator competition. The competition was intense, showing how vibrant and strong the global tech community has become throughout the world with brilliant innovations coming from both mature and emerging markets.
“Each of these revolutionary companies has gained excellent exposure to industry leaders through the application reviews, online pitch sessions and virtual competitions. We were consistently impressed by the calibre of the companies that took part in the competition and the outstanding innovations they are developing to improve peoples’ lives and businesses across the world. Congratulations to FIDO Tech and all of the country winners that succeeded in reaching the global final.”
FIDO’s data-as-a-service technology is now being used in the UK, Europe, Canada, Australia, Africa, South Africa and the US.