Accelerating human-machine collaboration
Looking to build an artificial intelligence powerhouse in the Nordics, Altor found a company already holding the title.
Artificial intelligence is one of the biggest trends in the tech sector, growing with the need for businesses to optimize further.
Altor’s partnership with Silo AI was the result of a thematic investment strategy where the team at Altor tried to figure out the biggest trends in the tech sector. Artificial intelligence (AI) came at the top of the list. The belief is simple: After the current wave of digitalization of all businesses we will see more and more companies wanting to optimize their business through AI.
Stian Tuv, Director, Altor
“Silo AI is the largest private AI-lab in the Nordics, accelerating human-machine co-operation. They are at the absolute forefront of tech development. The most digital of the digital.”
“We have looked at the AI-space and found few companies that have excited us and then we found a true AI-flagship. A company that can help large companies with their AI journeys. Today Silo AI is a pure consultancy, but over time we see them transforming some of their services into products.”, says Stian Tuv, Director at Altor. “Already in our first meeting we mirrored each other’s thoughts. We had the same views on the strategy going forward and what could make this great company even greater.”
The secret weapon is people and projects. Silo AI is attracting the best talent in the business. More than 50% of their 240 plus employees have PhDs, which is quite unique on the AI-consultancy scene. And since Silo holds the best talent, they are focusing on how to challenge, develop and retain them by having the most exciting projects for the most demanding clients. This builds a flywheel where new talent wants in on the action, creating the best in employer in the AI-business. And with exceptional talent, it is easy to attract the most advanced customers to ask Silo AI for help on their toughest projects.
This strategy has been very successful, doubling revenues and the number of employees for four years in a row.
Today Silo AI’s projects help solve real-world problems around heating, water treatment, and autonomous driving. From Altor’s side, the list of possible AI solutions to come seems endless.
“In the future, AI will help with many things around sustainability, reducing energy use, optimizing solar power, identifying diseases, and developing vaccines. It sounds like sci-fi, but all businesses will need to understand it. Automation and AI will be the next big thing,” says Stian Tuv.
Published: Aug 05 2022