Big data, big potential, big challenges | Business News | November 2020
The below is an extract of the Business News article by Matt Mckenzie. For the full article please visit Business News WA.
Three Springs Technology is a smaller, private consulting business developing its own products.
Co-founder Sherief Khorshid worked in quantitative finance in Hong Kong before returning to Perth in 2016.
His first move was to develop an automated currency trading system, and Three Springs then moved into computer vision applications, including in the medical and mining sectors.
Computer vision trains algorithms to detect content in images, such as a face or an object.
Three Springs consulted to ASX-listed Resonance Health, automating some of its medical products.
Mr Khorshid said Three Springs shared its time between consulting work and developing its own products to scale-up.
One such development was a comment moderation product initially created by Mike Clark, who joined the business in a merger in November 2019.
The software is now being trialled with a major media organisation.
It’s in a branch of machine learning called natural language processing, where computers are trained to understand language.
Another computer vision use case was working with a conveyor belt manufacturer, analysing video footage to detect wear.
It could shave significant time off the maintenance process, Mr Khorshid said, with analysts otherwise needing to scroll through many hours of footage looking for defects and then finding the right place on the belt to make a repair.
“It’s all about saving time and making it easier for them to monitor the conveyor belt,” Mr Khorshid said.
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