NeuralStudio SEZC, a technology startup based in Cayman’s special economic zone Cayman Tech City, is offering machine-based learning models to global businesses.
Jack Copper, NeuralStudio’s managing director, developed a cloud-based portal that extends the use of artificial intelligence to build and deploy those computer models for businesses worldwide.
The neural network technology has applications in any industry that generates data, from finance and manufacturing to healthcare and energy, according to a company press release. Neural networks autonomously learn from data and identify patterns, which then become the basis for a company’s decision-making when these patterns reappear, Mr. Copper said.
“The strength of neural networks is that they learn to generalize. So, they do not need to see every possible combination of inputs, in order to use a particular set of inputs as the basis for making a decision.”
NeuralStudio’s Microsoft Azure-based gateway, the first of its kind to launch in the Caribbean, allows clients to process and analyze vast amounts of data in 24 to 48 hours.
While entering data on a large-scale typically involves weeks of administrative work, NeuralStudio’s portal drastically reduces the amount of resources previously required to process data.
“All the client has to do is to supply data and tell the portal what is needed after the information is entered,” Mr. Copper said. “We then fine-tune the neural networks’ automatic learning to optimize the company’s parameters of the request. The portal does the rest – all in one place.”
NeuralStudio takes the artificial intelligence process a step further by optimizing the parameters of the algorithms. Mr. Copper, who has spent more than 30 year working in the AI industry, said his technology provides significant improvements on data processing and offers a competitive advantage to data managers and analysts.
“It will help companies fulfill their missions, do proper forecasting, and classification amongst other tasks,” he said. “We have a solid network of potential business partners internationally and within the Cayman Tech City special economic zone and I’m excited to see how our first clients react.”
NeuralStudio launched in Cayman Enterprise City in 2015 after Mr. Cooper had considered alternatives like Panama, Dubai, Singapore and a few other places. The company ended up in Cayman’s special economic zone because CEC provided a “one stop shop” for company set-up and work permits, the managing director explained.
NeuralStudio employs Jamal Clarke, a Caymanian computer science graduate, who joined the team last November. He described the project as an excellent learning opportunity. “It’s great to apply my skills in the real world and through Copper’s support and mentorship I’ve been able to learn a lot about business and coordinating major projects.”
This summer, two Caymanian interns, Hollie Coleman and Matthew Elphinstone, also joined the project – helping prepare for the launch, as well as working directly with AI technology.
One of the applications the interns worked on that could have local impact in the future is a neural network-based lionfish recognizer, which could become the fundamental component of a system to identify and trap lionfish on a commercial basis, Mr. Copper said.
Charlie Kirkconnell, the CEO of Cayman Enterprise City, said Cayman Tech City has been attracting innovative technology companies like NeuralStudio on a weekly basis to set up in the technology-focused special economic zone.
“Cayman’s robust infrastructure, growing digital economy, tax neutrality, and stable political climate are the perfect ingredients to foster innovation and support technology-based ventures like this,” explained Mr. Kirkconnell. “I’m especially proud to see that this significant AI project was able to incorporate Caymanian employees to get the work done and support the next generation of technology entrepreneurs.”