Fin McCormick and Lizbeth Chandler at the launch event.
Innovative Exeter Student start-up set to shape the future of Artificial Intelligence
A duo from the University of Exeter Business School have today (Thursday August 11) launched the next generation of bias detection software for Artificial Intelligence (AI) and Machine Learning (ML) systems.
Business School graduate Fin McCormick and 2nd year Business student Lizbeth Chandler conceived the idea for The Good Robot Company after Fin identified the problem of bias in AI systems whilst working on his dissertation.
“When I was working on algorithmic strategic decision making in the consulting industry, I noticed a great deal of bias influenced by human inferences in the AI systems which no one was talking about,” Fin said. “So, I had a conversation with Lizbeth who at the time was my subject co-chair. She’s a genius with passion for system thinking, maths and data science and overnight she came up with initial equations addressing this problem. Since then, we have further developed the logic and capabilities behind our software, through participating in conferences like AIES 2022, at the University of Oxford.”
The pair attended a Techstars Startup Weekend at Falmouth University’s Launchpad Building where their idea on finding and mitigating the biases in AI systems were validated by industry experts, resulting in the birth of a fast-growing tech start up.
Speaking on the importance of this new system, Lizbeth said: “This technology is encompassing and absolutely crucial as the tech industry continues to grow. It is envisaged that by 2030, AI will add $13 trillion to the global economy. There will be an unprecedented negative impact on society, if we’re not rolling out systems that can detect and monitor bias at the same rate technology is growing.”
Aside from the bias detection product, the team also rolled out a brand-new website and a promotional video at the launch.
The launch event, held at Falmouth University’s Launchpad Building, was graced by industry experts, entrepreneurs, Cornwall Council staff, University of Exeter and Falmouth University’s academics as well as potential investors.
The Good Robot Company has so far enjoyed the support of the University of Exeter’s SETsquared partnership and Falmouth University’s Launchpad programme in developing their product and are now looking forward to what the future holds for the business.
Lizbeth said: “We’re grateful to Exeter and Falmouth for their support. The next step is to accelerate user testing, we can’t wait to continue building a product and ethical AI network that will have a profound impact on such a disruptive technology.
“We have plans to acquire more enterprise clients, build strategic research partnerships, and raise a pre-seed investment round, while proving that startup can accelerate in an inclusive and innovate way.”
Date: 11 August 2022