FIDO’s world-first leak sizing AI has achieved global recognition after being named runner up in KPMG’s first ever Global Tech Innovator contest.
As the UK’s reigning Tech Innovator, FIDO Tech was one of 17 potential future tech titans who took to the stage at Lisbon’s Web Summit on November 2.
FIDO AI, which detects water leaks and leak size in real time from any audio or vibration file, with more than 92% accuracy, has gone from strength to strength after emerging from United Utilities’ successful Innovation Lab in 2019.
Water companies in the UK, Europe, Canada, Australia, Africa, South Africa and the US are now using the technology to find leaks.
The GTI overall winner was Brazilian firm Krilltech AgTech which uses nanobiotech to increase crop productivity and quality.
Speaking after announcing FIDO as winner of the UK competition in July, Bina Mehta, Chair, KPMG UK and Head of the UK Emerging Giants Centre of Excellence said:
“The power of our technology sector to deliver impact on a global scale is more important than it’s ever been, and our UK innovators are a real success story. The UK is ranked in the top five in KPMG’s Global Innovation Hub Index and sits at the forefront of global tech innovation. Data from our upcoming Venture Pulse survey signals another record quarter for VC investment into our fast growth and early stage businesses, pointing to our ability to create, attract and nurture entrepreneurs, disruptors and scaleups across the UK.
“FIDO Tech is a fantastic example of the growing number of innovative UK businesses who are proving that there is much opportunity for growth if businesses are prepared to think differently or come at the problem from a new angle.”
Victoria Edwards, CEO and Co-founder of FIDO Tech said:
“FIDO is the water leak detection technology the world needs now. Being named a Global Tech Innovator by KPMG is huge recognition of the power of AI to transform humanity’s response to enormous problems.
“In 2021, one in three glasses of the world’s expensively and carbon-intensively treated drinking water vanishes before it ever reaches our taps. Tackling leaks has to be a top priority for defending our piped communities from Day Zero. It has to happen before or at least concurrently with finding expensive new water sources.
“Until now it’s been too hard to do. More than 90% of leaks never show above ground and the acoustic technology used to find them has relied on human judgement. FIDO AI removes human error and does something no human can – detect the size of leaks just by listening to them. We are sensor agnostic and open data. This is huge. It means utilities can address the leaks that matter on any network – smart or not.
“KPMG judges recognised this potential impact for climate change adaptation and mitigation. It’s a huge validation to be rated in the top two technology firms to watch and great international exposure for FIDO AI.”
KPMG judges recognised this potential impact for climate change adaptation and mitigation. It’s a huge validation to be rated in the top two technology firms to watch and great international exposure for FIDO AI.
Victoria Edwards, CEO and Co-founder of FIDO Tech