Tungsten Corporation and Goldsmiths announce artificial intelligence venture

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Goldsmiths, University of London and Tungsten Corporation plc, the global e-invoicing, analytics and invoice financing company, are delighted to announce the establishment of a joint venture - the Tungsten Centre for Intelligent Data Analytics (TCIDA).

TCIDA will undertake research and development into advanced Artificial Intelligence (AI) techniques for undertaking Big Data analysis and will develop software to support Tungsten’s overall business, continually improving its ability to provide state-of-the-art value added services to its clients.

The Centre will support three senior professors and fund PhD and post-doctoral research programmes. It will be based in Tungsten’s London office and is expected to begin delivering artificial intelligence software for commercial applications within 18 months.

Goldsmiths' Professor of Cognitive Computing Mark Bishop, (academic) Director of TCIDA, said:

“In the commercial, banking and finance sectors, AI systems and raw computer power have now advanced to the position where modern algorithms can be usefully applied to analyse very large data-sets. Research and development at TCIDA will be targeted to exploit the very latest AI techniques.

"Goldsmiths is delighted to partner with Tungsten Corporation in this innovative initiative to further the UK’s globally leading scientific and technology development, through such areas as Deep Learning, Reinforcement Learning and Reservoir Computing for commercial application with Tungsten.”

Phil Ashdown, Chairman of TCIDA, has moved from his roles as CEO of Tungsten Bank and the plc board to oversee the TCIDA initiative.

Edmund Truell, Group CEO, Tungsten Corporation, said: “I’m delighted that Phil Ashdown has initiated this important step for Tungsten in partnership with a globally leading UK based technology institution in the form of Goldsmiths.  TCIDA will enable us to develop even more advanced proprietary analytics software and so maintain market leadership in the state-of-the-art services that we provide to our clients.”