Silo.AI highlights of 2019 & outlook for 2020

The past year has been a period of learning, execution and growth. To start with, we want to express our deepest gratitude to all of our clients, partners and the entire Silo.AI team for the great collaboration in 2019!

During this year Silo.AI has made great progress on the path towards becoming the European flagship AI company. We’re proud of having built several large, long-lasting client relationships and engagements, and of improvements made in both value creation to customers and internal efficiency in building AI solutions. Throughout the year, we’ve highlighted some of our customer engagements, such as AI solutions for operations control centers at Finnair and Ramboll. Most of our work on AI-driven solutions is now focused on incorporating intelligent automation and smart components into existing product development initiatives, covering especially: 

• Smart vehicles (incl. automotive, maritime and heavy machinery)
• Smart devices (incl. mobile, telecom and healthcare), 
• Smart cities (incl. infrastructure, energy, ports and logistics)

In addition to these, we have been contributing to several other segments, such as retail, media, gaming and finance to mention a few. Thanks to these collaborations, we’ve grown and matured as a company in multiple fields.

• We grew from 3 to 5 locations, making us present at 3 sites in Finland (Helsinki, Turku, Oulu) and at 2 sales offices abroad (London, Palo Alto).
• With 31 new Silopolis members in 2019, our team now consists of more than 60 people.
• We've more than doubled company revenue, with profitable growth and an annual run rate further doubling 2019's figures, and closed a €10M funding round.
• We've continued to facilitate the AI ecosystem with participation in nearly 200 events across the world.

We’ve been lucky to attract top-notch talent, as the Silo.AI team has grown fast, especially in the past 6 months. We’ve grown with 31 new Silopolis members by the end of this year. Today we are a team of more than 60 people with 11 different nationalities. This year we have expanded from our three existing offices in Helsinki, Turku and London to two new locations. We’ve increased our international sales efforts with the Palo Alto office in the US, as well as expanded our expert team with a recently opened office in Oulu, Finland.

From figures in 2018, we've more than doubled company revenue, with total income close to €3M and profitable growth in the latter half of the year. At the end of 2019, the outlook for 2020 also looks promising with an annual run rate doubling 2019's revenue figures. In June, we closed a €10M funding round, and were selected as a Growth Engine by Business Finland. With this, we have been able to initiate and accelerate work on our delivery platform and continue to facilitate the surrounding AI ecosystem, and will now keep growing our AI expert team to build end-to-end AI solutions.

We’ve also continued our work on accelerating the AI ecosystem. Over the past year, the Silo.AI team has had the pleasure to participate in nearly 200 different events across the world, including the US, Canada and Europe. Some highlights include invited keynotes on AI for finance at a high-level Stanford Institute for Human-Centered Artificial Intelligence (HAI) event in Palo Alto, AI for healthcare at AAMAS 2019 in Montreal, AI for central banks at a high-level Federal Reserve Board event in Washington DC, and a talk on AI & data privacy at Europe's biggest data privacy event IAPP Europe in Brussels.

We also hosted plenty of our own events, such as an event on predictive maintenance with Wärtsilä and sessions on edge computing, autonomous operations and the state of AI at SHIFT Business Festival, including talks by top speakers like Yoshua Bengio. As another form of activity, we hosted online webinars, such as the event Applying AI from experimentation to transformative change, together with our friends at Industryhack. We also had the pleasure of being featured as one of the top AI companies in Finland in Finland’s AI Accelerator’s AI landscape review.

At this point, our journey has only just begun – in 2020 our pace will accelerate even further. We will strengthen our collaboration with existing clients, focusing on taking on large development challenges around AI-driven products. We will strive for long-term relationships and to enhance clients' operations with intelligent capabilities. This will require the Silo.AI team to grow both domestically and abroad, and hence we'll also continue to expand internationally, especially in Europe.

Once more, we would like to thank our clients and partners for making this year as exciting as it has been, and look forward to collaborating in the upcoming year of 2020!

All the best for the approaching new decade & happy new year!

Peter

P.S. Is AI in your 2020 strategy? Don’t wait to start discussions. Get in touch with peter.sarlin@silo-ai.hel5.wp-cloud.dev or pertti.hannelin@silo-ai.hel5.wp-cloud.dev. 

Next year we will continue to grow our team: get in touch with jenni.kivikoski@silo-ai.hel5.wp-cloud.dev to join the team.