On June 7th, ten hand-selected startups participated in Barclays’ annual Open Innovation Challenge. More than 100 companies entered to participate in a face-to-face pitch and demo session aimed at solving real-world issues. SigOpt was one of the startups selected, and we had the opportunity to present our state-of-the-art optimization platform to the Barclays executive team.

From this field of impressive startups, SigOpt was chosen as the Open Innovation Challenge winner!

As firms leverage sophisticated AI and machine learning to power their businesses, the need to optimize these models continues to grow. SigOpt’s ensemble of state-of-the-art optimization techniques behind a simple API allows experts to easily unlock the full power of these models better, faster and cheaper, than traditional techniques — while keeping their models and data secure.

From the introduction of the world’s first ATM in 1967 to launching contactless mobile cash in 2016 – Barclays is a global financial powerhouse known for disruption. We are honored to be selected as the Barclays Open Innovation Challenge winner as they continue to partner with startups working to transform the future of banking.

Sameer Jain, group chief technology officer for Barclays said, “These events are a great way for us to uncover the most interesting new technologies and discover the art of the possible. We’re really excited about partnering with many of the companies to deliver breakthrough or better solutions.”

We are thrilled to continue to helping leading firms in insurance, banking, and algorithmic trading leverage their AI and machine learning investments and accelerate their modeling.

Congratulations to the other innovative startups that were honored this year!

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