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SpendInsight was the second KTP project under taken by cloudBuy. The first project was an award winning Artificial Intelligence system for fraud detection and predictive shopping.
The first project was a single associate project, with Nils Junker-King as the associate. As the artificial intelligence system used increasingly sophisticated techniques in Baysian statistics, the mathematical requirements became too challenging for Nils who instead became a software developer at cloudBuy. Dr John Howroyd was recruited because his PhD. was in mathematics, and having worked on research with some of the academics involved in the project he was known to have the necessary skills. The result was a successful award winning project, and at a significantly higher level of academic and technical sophistication than most KTP projects.
SpendInsight was an ambitious project both academically and technically. cloudBuy was strengthened by having Dr John Howroyd on board. Based on the experience of the previous KTP project the objectives of both knowledge transfer and ground breaking research were set; it was expected that the associates would be awarded doctorate degrees for their work on the project.
SpendInsight is an unusual KTP project since it had 3 associates, and two Universities. Professor Mark Bishop had moved from The University of Reading to Goldsmiths’ College (University of London) as chair of Cognitive Computing. After the first successful KTP project, Mark wished to keep in touch with cloudBuy and his colleagues at The University of Reading Department of Cybernetics.
The project has justified the sponsors investment in 3 KTP projects by achieving ground breaking research which is expected to result in the 2 associates that did not already have a PhD. each being awarded a PhD. for their work on the project, (the 3rd associate already had a PhD. in mathematics).
cloudBuy contributed a significant amount through its development team, and the 30 years of government purchasing information provided by cloudBuy's subsidiary Coding International.
SpendInsight has already been awarded a Buying Solutions framework contract for the public sector, which is a good level of success.
SpendInsight’s ability to provide guaranteed savings for the public sector has already repaid the cost of the sponsorship. The project is a success in all measures: associate development, company development and profitability, and – unusually – benefit to the public sector in the form of improved purchasing.