FYLD awarded substantial OFGEM funding
FYLD, in partnership with SGN, has secured close to £60,000 of funding from the Office of Gas and Electricity Markets (OFGEM), as part of its inaugural Strategic Innovation Fund grants.
This initiative will enable FYLD to undertake an eight-week feasibility study focused on predicting high risk sites – the next step towards a ‘zero-harm’ vision for the utilities industry, powered by AI.
During this two-month period, the awarded funds will be utilised to progress development of FYLD’s Predictive Safety Interventions – a safety system dedicated to accurately predicting and mitigating safety incidents on site or out in the field. FYLD imagines a world where, early in a shift, a remote safety manager knows which sites to intervene on to stop potentially life changing events from materialising.
Using a combination of FYLD’s proprietary data and SGN’s safety incident information, FYLD will work over the coming weeks to assess the feasibility of a solution over four key stages: identifying relevant data, applying machine learning, identifying key correlating factors, and showing that safety risk can be algorithmically predicted.
The ultimate goal is to achieve a ‘zero-harm’ outcome for companies using FYLD’s solution, by recording zero incidents out in the field. Using data, AI, and innovation, there is an opportunity to create a safer, more predictable, and lower risk working environment for every fieldworker, on every job. This technology enables field workers to return home safely every day after working in hazardous environments.
Read the full story on the FYLD website.