In this edition of "Startup Spotlight", we feature Bilby, a pioneering startup that sits at the intersection of technology and government activities. As organizations globally navigate with the nuances and uncertainties of governmental actions, Bilby emerges with AI-enhanced tools uniquely tailored to decode this intricate domain. It’s our pleasure sitting down with Dr. Ryan Manuel, the founder of Bilby, to uncover their specialized offerings, the pivotal challenges they aim to resolve, and their forward-looking vision in this dynamic FinTech world.
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Could you give a brief overview of your startup and its services?
Ryan: Bilby provides AI/ML tools tailored for those dealing with government activities. These include a user-friendly terminal for analysts, AI-driven briefings and memos with inbuilt automated analysers and translators for executives, and APIs enabling quantitative modellers to access our marked-up data. For our early clients, we have seamlessly integrated these 3 offerings into comprehensive enterprise solutions, having first built them custom AI models.
Note: AI/ML refers to Artificial Intelligence / Machine Learning.
What is the core problem Bilby is addressing?
Ryan: Many individuals lack clarity on government actions, statements, or intentions. As a result, they're often blindsided by unexpected regulatory or policy changes.
What inspired the creation of Bilby?
Ryan: My own personal frustration – I had been a prime ministerial advisor, professor, and business analyst for two decades, and yet I consistently felt out of the loop on pivotal matters.
In a concise sentence, what is Bilby's primary mission?
Ryan: To use AI to provide automated, comprehensive information for informed decision-making related to all government activities.
With the numerous solutions in the FinTech sector, how does Bilby distinguish itself?
Ryan: We focus solely on government actions. While there are numerous excellent FinTech solutions out there, our aim is to enhance them by addressing specific top-down policy concerns.
How many clients or users have engaged with your solution so far?
Ryan: Six firms have partnered with us for custom AI models tailored to their specific needs. Overall, we have about 300 users across our products, with the majority utilizing our free analytical tool that automatically assesses the top five concerns expressed internally by China's leaders.
What are your team's main priorities right now?
Ryan: We currently have 53 firms on our waitlist or seeking trials. Our primary focus is to rapidly expand and develop scalable systems to accommodate a growing number of users.
As 2023 draws to a close, what trends or challenges stand out in your industry?
Ryan: I observe a transition towards enterprise-focused AI and supervised ML solutions, moving away from Large Language Models (LLMs.) We can anticipate an increase in solutions targeting specific queries, backed by more concrete and verifiable data.
Do you have specific industries or groups in mind for collaboration?
Ryan: We love collaborating with any entity leveraging technology to address business challenges! If you seek insights into predicting, analyzing, and detailing government activity, please reach out.
How can partnerships amplify Bilby's growth and capabilities?
Ryan: Partnerships can bridge the gaps to the FinTech areas we currently don't address, especially those influenced by or reliant on comprehending government activity.
What are the key objectives and milestones Bilby is targeting in the upcoming year?
Ryan: We're launching our terminal on November 15th this year. By the end of Q1 2024, we aim to collaborate with 20 institutional or corporate clients. Additionally, our goal is to have 10 country-specific models operational by the end of H1 next year.
For readers keen on learning more or discussing partnerships, how can they contact you?
Ryan: Please drop me a line anytime: ryan@bilby.ai — happy to connect.
QIDS Venture Partners is dedicated to supporting and catalysing the developments in FinTech by sharing with our audience FinTech trends and interesting FinTech business ideas. You may forward this article to other investors who are interested in FinTech as well. If you need more information or would like to arrange a meeting with us, please feel free to contact our Managing Partner Edward Shen via LinkedIn or email.
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