Throughout the month of March, 18 local startup companies competed in a bracket-style competition for the title of Dayton Inno Madness Champion. More than 3,500 DBJ readers cast their votes based on the question “Who would you invest in?”
After four rounds, local technology company MinedXAI emerged as the 2022 champion with 57.7% of votes in the final round.
MinedXAI is an explainable artificial intelligence (AI) company with proprietary technology that architects a company’s data to discover actionable insights that were previously buried.
With success in most industries hinged on the ability to anticipate the future, MinedXAI Founder and Chief Solutions Officer Ryan Kramer said the software’s forecasting abilities allow users to more effectively accomplish specific business objectives with a higher return on investments.
Kramer said many companies are currently missing out on this with reliance on approaches that respond to emergent situations. He said trust and the ability to trace how decisions are made by AI are key to enabling these organizations to adopt machine learning.
Along with transparency, MinedXAI’s explained AI software transforms complex data with algebraic topology, which allows information to be structured from multiple perspectives and fused with additional learning capabilities. The software will then utilize open analytic architecture principals for continuous model exploration so data insights are never blocked or hidden behind a “black-box,” said CEO Morley Stone.
“The beauty of our approach is that it translates across highly disparate data sets,” Stone said. “In fact, after looking at over two dozen use cases, we have yet to find a data set we cannot work with to provide valuable insight for customers.”
While at its core software solutions are customized based on individual clients, business objectives, data availability and user requirements, there is a potential for re-usability currently in development.
In 2022, MinedXAI is looking to scale software access across multiple companies, utilizing common under-pining technology development for major clients. The tech company also preps to establish two new verticals for the software around logistics and food & beverage manufacturing.
The explainable AI technology was developed in collaboration with the Defense Advanced Research Projects Agency (DARPA). Since then, the approach has been expanded and refined by the U.S. Air Force Research Laboratory across more than 20 use cases, including Covid modeling and Special Forces training and analysis.
Since launch in 2021, MinedXAI has had two initial angel investors and remained self-funded since from client projects. The company has done work with One10, Omega CDC and the Hope Center. Stone said the company is now in discussions about a future funding round but would like to self-fund through 2022.
MinedXAI’s clients range from international Fortune 500 companies to local non-profits.
Kramer and Stone attribute much of their success in 2021 to their team which is slated to grow by at least 50% by the end of 2022.
In particular the founder and CEO highlighted two staff members that made their 2021 successes possible: Chief Technology Officer Kyle Siegrist who heads the technology team and Chief Strategy Officer Rajesh Naik, who has known Kramer and Stone for decades.
Runner up in the Inno Madness competition, Tumble LLC, garnered 42% of votes in the final round.
“The last round was a hell of a fight and congratulations to the MinedXAI team! I wish them all the best. I also want to thank everyone who helped us get this far with their votes, support, and spreading the word. I’m glad that Charles [Wheeler] and I had an opportunity to be part of this year’s Inno Madness competition and represent our community. We have big plans coming this year, including a major project with Parcel Plus and launching our new partnership with Kettering Health Physician Partners…,” said Jeffrey Caldwell, co-owner of the on-demand laundry and dry-cleaning service.
Name: MinedXAI
Year founded: founded late 2020, formed early 2021
Number of employees: 9
Current services: analytic and machine learning solutions
Local location: 444 E 2nd St. Suite 210 in Dayton
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