Anyline secures funding from Austrian agency for AI development

Anyline secures funding from Austrian agency for AI development

Anyline received around $2.86 million to fund research and development of Closed Loop Training for artificial intelligence models.

Anyline has received €2.64 million (approx. $2.86 million) administered through the Austrian research promotion agency – Österreichische Forschungsförderungsgesellschaft (FFG) – as a public grant over the last three years to fund research and development of Closed Loop Training (CLT) for artificial intelligence (AI) models that speed the time to accurately capture and digitize analog information.

Over the last three years, Anyline developed CLT, which it said is the foundation for an AI-based software, which the company said leverages computer vision, optical character recognition (OCR) and machine learning to more quickly and accurately capture visual information digitally. The result of CLT is that creating accurate data capture solutions using AI models and computer vision has been shortened from months to days, Anyline said.

“Anyline’s mission is to make it easy to extract value from all of the static, analog information that surrounds us just by using the camera on your phone,” Christian Pichler, CTO at Anyline said. “The funding allows us to overcome technical challenges in realizing our vision, so when an external organization shares our vision and is willing to contribute towards that innovation, it’s extremely validating. With FFG’s support, we reinvented our tech stack, industrialized and automated the way we train our AI models and drastically reduced the time it takes to deploy new solutions.”

According to the company, CLT generates the quantity and quality of variants from smaller data sets to produce higher accuracy in much shorter timeframes than when compared to standard methods of AI model training, or machine learning. Over the last three years, Anyline developed this CLT factory to create custom AI-based computer vision solutions with release-quality results that can be built within days.

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