FYLD awarded substantial OFGEM funding
FYLD, in partnership with SGN, has secured close to £60,000 of funding from the Office of Gas and Electricity Markets (OFGEM), as part of its inaugural Strategic Innovation Fund grants.
This initiative will enable FYLD to undertake an eight-week feasibility study focused on predicting high risk sites – the next step towards a ‘zero-harm’ vision for the utilities industry, powered by AI.
During this two-month period, the awarded funds will be utilised to progress development of FYLD’s Predictive Safety Interventions – a safety system dedicated to accurately predicting and mitigating safety incidents on site or out in the field. FYLD imagines a world where, early in a shift, a remote safety manager knows which sites to intervene on to stop potentially life changing events from materialising.
Using a combination of FYLD’s proprietary data and SGN’s safety incident information, FYLD will work over the coming weeks to assess the feasibility of a solution over four key stages: identifying relevant data, applying machine learning, identifying key correlating factors, and showing that safety risk can be algorithmically predicted.
The ultimate goal is to achieve a ‘zero-harm’ outcome for companies using FYLD’s solution, by recording zero incidents out in the field. Using data, AI, and innovation, there is an opportunity to create a safer, more predictable, and lower risk working environment for every fieldworker, on every job. This technology enables fieldworkers to return home safely every day after working in hazardous environments.
Shelley Copsey, CEO and Director commented: “We are immensely proud to have been awarded this substantial amount of funding from OFGEM. The ability to intervene proactively through predictive data and AI improves both the safety and productivity of teams.
“This has never been as important to implement – the safety of worksites across the utilities industry has plateaued for five years. It is vitally important AI solutions like FYLD keep innovating and developing technologies to keep people safe and productive at work.”
Following the eight-week study, the findings will be evaluated, and results-dependent, further funding could be awarded by OFGEM as part of its Strategic Innovation Fund. FYLD is particularly looking forward to taking its initial work predicting safety incidents and applying similar techniques to predicting events which impact workforce productivity and the quality outcomes of work.
OFGEM’s Strategic Innovation Fund aims to find and fund ambitious, innovative projects with the potential to accelerate the transition to net zero. These projects will help shape the future of the gas and electricity networks and succeed commercially where possible. The SIF is delivered in partnership with Innovate UK, part of UK Research and Innovation (UKRI).