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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - POC (PieceOfCake: an AI-driven chatbot to manage complex business data)

Teaser

Summary

PieceOfCake is an Artificial Intelligence system to access and manage complex business data in a simple way, assisted by a chatbot that uses natural language. The goal of the company is providing an AI-driven Business Intelligence tool for accessing and managing complex business data in a simple way, so that it can be presented to non-trained users in a natural way, using an intelligent chatbot as a vehicle.

The Overall goals of the project are:
Â· To provide a highly valuable tool to democratize the access of the companyâ€™s business information to non-specialized users (e.g. mid-level managers or interdisciplinary roles).
Â· Generate business value by alleviating IT departments and analysts, reducing costs and increasing productivity in medium and large organizations.
Â· To become an plug-and-play AI-driven interface between professionals and the business data they need.
Â· PieceOfCake is envisaged as a pioneer AI product called to disrupt the Business Intelligence industry by creating a powerful and reliable Natural Language Interface (NLI) which will change the rules and procedures of the sector.
Â· At a market level, establish our customer segments first at a European level. Once our segments are reinforced, our next goal is to scale PoC worldwide, due to the scalable nature of our SaaS business model.

Work performed

During phase 1 we have developed a feassiblity assessment with the objective to check the business concept of PieceOfCake and to evaluate the commercial and exploitation viability before launching it to market.

The main objectives and results achieved are:

1. Technical Study: we covered our tests and decisions regarding the technical implementation and limitations we have encountered. The selection of some technologies or others is not a mere question of technical development, but it is tightly bound to goals of Piece of Cake, both at a tech-level (such as flexibility, adaptability, solutionâ€™s robustness or easiness of implementation) and at a market-level (such as feature-availability, time-to-market, etc.).
2. Market Study: we analyzed the current situation of the market, the potential segments that could benefit and the main competitors of Piece of Cake. This study has focused on the two main areas where PoC is involved: Business Intelligence solutions on one hand and Intelligent Assistants and chatbots dedicated to data analysis on the other hand.
3. Assessment of Risk Factors: PieceOfCake is the only commercial solution providing a functional and cross-platform assistant in Business Intelligence. We have studied the main risk and market barriers for the commercialization of POC and therefore define contingency plans to avoid stagnation points.
4. Partner Search: Our dissemination activities have helped us to contact new strategic partners that may produce synergies and alliances. We have analysed the best partners to help us in a wide variety of areas: technological, commercial and legal issues.
5. IPR Study: we focused on developing an efficient IP strategy for PieceOfCake, obtaining as a result a detailed study for next steps in the protection of our solution in the european market and beyond.
6. Business Model: A financial Plan has been elaborated, with different monetisation strategies and courses of action. The results have been positive and the potencial for further growth has been identified.

Final results

After the study carried out in Phase 1, we can confirm that our solution remains still nouvelle and is far from our direct competitors. The market research shows that the era of Big Data will offer new opportunities but will also generate difficulties in managing data. So there is a real opportunity for a product such as PieceOfCake to fit into the market.
The results obtained within the SME Instrument phase 1 has provide us a better understanding of the viability of our business and the potential expansion of our technology in the European market. We expect an important growth in terms of revenue and market penetration in the next years, together with an important rate of job creation.