Scotland-Based Smart Data Foundry Wins United Nations Synthetic Data Challenge

RALEIGH, N.C., March 8, 2022 /PRNewswire/ -- Diveplane, the company keeping the humanity in artificial intelligence (AI) today announced that the company's flagship product, GEMINAI, was used by its partner, Smart Data Foundry, to win the United Nations Economic Commission for Europe (UNECE) High-Level Group for the Modernization of Official Statistics' (HLG-MOS) synthetic data challenge.

Established in 2021, the UNECE HLG-MOS focuses on the needs of the people around it to support clean and ethical data practices. Smart Data Foundry data science team members Paola Arce, Victor Alfonzo Diaz and Euan Gardner represented the organization under its previous Global Open Finance Centre of Excellence name. The week-long synthetic data challenge was put into place to help shape the HLG-MOS's Synthetic Data for National Statistical Offices: A Starter Guide, being published by the UNECE later in 2022.

"We're very pleased to have come out on top in this challenge, considering the competition, and I'm proud of the team and how much they're learning in this space," said Nick Radcliffe, Smart Data Foundry's Chief Data Scientist. "This exercise also gave us the opportunity to explore the capabilities of the GEMINAI software to its fullest extent, and, following this outcome, we're looking forward to continuing this partnership with Diveplane."

Smart Data Foundry is part of the University of Edinburgh and a collaboration with the Financial Data and Technology Association (FDATA) and FinTech Scotland. With roots in Scotland, and supported by UK Research and Innovation's flagship Strength in Places Fund, Smart Data Foundry has a close working relationship with the Scottish government as it seeks to unlock the power of data as a force to improve people's lives.

"This was a fantastic effort on behalf of everyone involved," said Diveplane Chief Commercial Officer Alan Cross. "The Smart Data Foundry team, assisted by our own data scientists, were able to quickly turn in a winning performance, which is a testament to both GEMINAI's capabilities and the Smart Data Foundry's ambition."

"I'm delighted that GEMINAI performed so well in the competition, and helped the Smart Data Foundry team to a successful outcome," said Mike Capps, Diveplane's Chief Executive Officer. "We share common values, specifically the belief that all data must be protected and used responsibly. This win has set a pretty high bar at the start of our collaboration, but we are confident this partnership will only grow stronger from this point on."

About Diveplane
Founded in 2018 by Dr. Michael Capps and Dr. Chris Hazard, Diveplane keeps the humanity in artificial intelligence. The company develops technology that helps businesses and government organizations better understand and leverage the power of their data through AI tools that are trainable, interpretable and auditable. Diveplane is headquartered in Raleigh, North Carolina. For more information on Diveplane, please visit www.diveplane.com or follow the company on LinkedIn and Twitter.

About Smart Data Foundry
Born in the University of Edinburgh, our mission is clear – to open finance for good. We work closely with founding partners FinTech Scotland and the Financial Data and Technology Association (FDATA) - all the ingredients to make collaboration happen when there's normally a host of reasons for not sharing data. We provide a secure data environment where real consumer data from UK financial institutions can be safely shared with organisations working on big societal economic and environmental problems: helping to accelerate research, prove ideas and get to solutions quicker.

SOURCE Diveplane