It From Bit

At It From Bit, we rigorously benchmark emerging technologies to track the tech frontier and identify the most effective solutions for complex challenges. This disciplined approach enables us to select the optimal methods with the highest probability of success. Our recent explorations include Generative AI, advanced mathematical optimization, statistical analysis, as well as quantum computing and blockchain (both of which we’ve found, for now, remain premature for practical application).

Our team, represented by CEO Bruno Segvic and Data Scientist Stjepan Basic, had an amazing time at the JumpIT Forum in Zagreb! We showcased how we developed and implemented an AI-powered promo-demand forecasting solution for one of the leading regional retailers. This solution enabled our client make smarter decisions, reducing forecasting errors by 60% and enabling informed trade-offs between overstocking and out-of-stock scenarios. Energized by all the great conversations and excited about the opportunities ahead! 🤝 It was a great conference, a big thank you to Goran Krstulovic and the team for organizing such an incredible event! #JumpITforum #innovation #demandForecasting #AIsolutions #decisionMaking

Last weekend, we had the opportunity to attend the highly anticipated DSC DACH 2024 conference in Vienna, part of the Data Science Conference franchise. The event brought together over 70 expert speakers who shared insights on AI-powered sustainability and Responsible AI. We had a great experience engaging with industry leaders and explore the latest trends and challenges shaping sectors such as TelCo, Finance, Retail and Sustainability. It was a pleasure reconnecting with familiar colleagues and building new relationships. We're looking forward to returning to Vienna for next year’s event! ✨ #DSCDACH2024 #ResponsibleAI #AISustainability #DataScienceConference #GenerativeAI

𝐒𝐩𝐥𝐢𝐭 𝐓𝐞𝐜𝐡 𝐂𝐢𝐭𝐲 𝐅𝐞𝐬𝐭𝐢𝐯𝐚𝐥 2024 𝐑𝐞𝐜𝐚𝐩 This past weekend, we had the pleasure of attending the 4th edition of the Split Tech City Festival at the iconic Bačvice Open-Air Cinema. The event was a huge success, featuring: 💥 39 expert speakers 💥 6 lectures 💥 10 panel discussions 💥 350 attendees 💥 Networking with music, food, and drinks 💥 Afterparty The festival was a fantastic opportunity to connect with tech enthusiasts, entrepreneurs, and innovators from Croatia and beyond, all sharing their knowledge and ideas in an engaging atmosphere. A big thank you to Toni Trivković, Nikolina Kukoč, and their team for making this event possible. It was a great opportunity to connect with some fantastic entrepreneurs, share ideas and just enjoy the vibe of tech community. Among the many highlights were David Jakic's talk on International Expansion: Strategies and Insights for Success, offering valuable tips on how to grow businesses globally. Additionally, the panel on opening a business in Croatia, featuring Keith Kirby, Flor Nieto, and Kent Pepper, provided their insights and experience on navigating the local market, legal systems, and customer behavior. We also enjoyed Matthias Röder's presentation on how AI is revolutionizing the music industry, with AI-enhanced performances of Mozart and Beethoven. With so many diverse and engaging talks, the festival truly had something for everyone. The afterparty was a perfect way to wrap up this great event. We can’t wait to be part of it again next year! #STCFestival2024 #TechCommunity #Innovation #Networking

𝐈𝐬 𝐘𝐨𝐮𝐫 𝐃𝐚𝐭𝐚 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐫 𝐉𝐮𝐬𝐭 𝐊𝐞𝐞𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐋𝐢𝐠𝐡𝐭𝐬 𝐎𝐧? At It From Bit, we turn your data into a powerful asset that drives every part of your business. Imagine a data strategy that not only integrates seamlessly into your operations but also sharpens decision-making, strengthens compliance, and positions your business for future success. Our team brings together decades of industry experience with dynamic, innovative thinking. We don’t just implement AI—we weave it into the very fabric of your business. This way, we transform complex challenges into clear, actionable solutions that fuel growth and give you a competitive edge. It’s time to stop settling for “good enough” and start realizing the full potential of your data. Let us help you create a strategy that not only meets today’s needs but anticipates tomorrow’s challenges. Ready to turn your data into a competitive advantage? Let’s start the conversation. 📧 https://lnkd.in/d5DU8C-x #DataStrategy #AI #BusinessGrowth #Leadership #Innovation #Transformation

At IFB we're always exploring how the latest technology can be leveraged to create better experiences for businesses and customers. Here we will highlight several ways that GenAI is revolutionizing the shopping experience, both online and in physical stores. 𝐀𝐈 𝐒𝐡𝐨𝐩𝐩𝐢𝐧𝐠 𝐀𝐬𝐬𝐢𝐬𝐭𝐚𝐧𝐭𝐬: 𝐑𝐞𝐝𝐞𝐟𝐢𝐧𝐢𝐧𝐠 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 On large e-commerce platforms, virtual shopping assistants simplify navigation. Customers can easily locate what they need by typing, speaking, or uploading photos with their requests. No more need to struggle with complex search filters. These AI assistants also handle more complex purchases; such as planning their travel by engaging in an open-ended conversation with the app, from choosing accommodations to discovering must-see attractions. 𝐑𝐞𝐚𝐥𝐢𝐬𝐭𝐢𝐜 𝐕𝐢𝐫𝐭𝐮𝐚𝐥 𝐓𝐫𝐲-𝐎𝐧𝐬: 𝐁𝐫𝐢𝐝𝐠𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐚𝐩 𝐁𝐞𝐭𝐰𝐞𝐞𝐧 𝐎𝐧𝐥𝐢𝐧𝐞 𝐚𝐧𝐝 𝐈𝐧-𝐒𝐭𝐨𝐫𝐞 𝐒𝐡𝐨𝐩𝐩𝐢𝐧𝐠 Virtual try-on features have traditionally been basic, often limited to selecting from a few body shapes to visualize how a garment might fit. GenAI is taking this to a new level. Customers can now create a lifelike avatar of themselves using a photo and their exact measurements, allowing them to see how an outfit would look on them, to make better purchase decisions. 𝐒𝐢𝐦𝐩𝐥𝐢𝐟𝐢𝐞𝐝 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧-𝐌𝐚𝐤𝐢𝐧𝐠 𝐰𝐢𝐭𝐡 𝐀𝐈 𝐒𝐮𝐦𝐦𝐚𝐫𝐢𝐳𝐞𝐝 𝐑𝐞𝐯𝐢𝐞𝐰𝐬 Imagine you want to check out a simple product only to be overwhelmed by hundreds of reviews, often with conflicting opinions. With GenAI’s ability to understand and summarize lengthy pieces of text, this frustrating experience could be a thing of the past. 𝐈𝐦𝐦𝐞𝐫𝐬𝐢𝐯𝐞 𝐌𝐞𝐭𝐚𝐯𝐞𝐫𝐬𝐞 𝐒𝐭𝐨𝐫𝐞𝐬 GenAI enables the creation of captivating virtual shopping experiences. This aligns with the metaverse concept. Forward-thinking retailers are already establishing a presence in the metaverse, creating interactive and personalized virtual stores. Users can navigate a virtual store, while AI generates personalized product placements and even virtual sales assistants. 𝐓𝐚𝐢𝐥𝐨𝐫𝐞𝐝 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐉𝐨𝐮𝐫𝐧𝐞𝐲𝐬: 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐳𝐞𝐝 𝐒𝐡𝐨𝐩𝐩𝐢𝐧𝐠 𝐋𝐢𝐤𝐞 𝐍𝐞𝐯𝐞𝐫 𝐁𝐞𝐟𝐨𝐫𝐞 Creating tailored promotions and offers for each shopper by analyzing their unique buying habits and preferences. For instance, if customers frequently buy sustainable products, AI could automatically generate special discounts or bundle deals on eco-friendly items during their next visit. This process can be scaled effortlessly. 𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐈𝐧-𝐒𝐭𝐨𝐫𝐞 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 In-store experience can be enhanced with smart mirrors that offer virtual try-ons, providing an accurate representation of how products look on customers. This is particularly useful when a store doesn't have all styles, colors, or sizes available. Customers can see digital variations and download images to share online. #Retail #GenAI #CustomerExperience

𝐃𝐚𝐭𝐚 𝐋𝐞𝐚𝐝𝐞𝐫 𝐨𝐫 𝐃𝐚𝐭𝐚 𝐅𝐨𝐥𝐥𝐨𝐰𝐞𝐫: 𝐖𝐡𝐞𝐫𝐞 𝐃𝐨𝐞𝐬 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐒𝐭𝐚𝐧𝐝? Are you a data leader, leveraging insights to drive success, or a data follower, struggling to keep up with competitors who are already capitalizing on the vast information available? What sets data leaders apart is their ability to initiate comprehensive data strategies that span multiple areas of their business. A robust data strategy is a must-have for every business that wants a share of the 8.6 trillion data initiative market that is forecasted to global revenues by 2027. 𝐌𝐞𝐚𝐬𝐮𝐫𝐢𝐧𝐠 𝐒𝐮𝐜𝐜𝐞𝐬𝐬 𝐰𝐢𝐭𝐡 𝐃𝐚𝐭𝐚 Data leaders see data as a strategic asset that drives business decisions, not just an operational byproduct. They analyze it to identify trends, optimize processes, and predict future outcomes. While working with data and advanced technologies like AI can be costly in terms of infrastructure and training, many businesses rush to invest in pilots without aligning data strategies with business goals. This reactive approach often leads to failure. To avoid these pitfalls, consider the following questions: 1. Does your organization have the skills and capabilities to effectively understand and utilize data? 2. In what areas of your business is data used consistently, and how frequently is it analyzed? 3. Do you have robust data backup solutions in place? 4. Are you using real-time data to predict, identify, or react to threats and opportunities? 5. Are you leveraging data to improve the time-to-market for your new products? 6. Do you have programs in place to increase customer loyalty, satisfaction, average spending, or retention? 7. Are your data practices aligned with regulation and compliance requirements? 8. Have you made significant progress toward your ESG goals in the last 12 months? 𝐎𝐯𝐞𝐫𝐜𝐨𝐦𝐢𝐧𝐠 𝐃𝐚𝐭𝐚 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 While the rewards of becoming a data leader are clear, the journey is not without its challenges. Many organizations face difficulties such as data silos, poor data quality, data security, failure to have an effective backup plan, outdated systems, and lack of expertise. Our experience working with a diverse range of businesses has revealed that organizations are at different stages in their journey toward becoming data leaders. Hence at It From Bit, we prioritize empowering our clients with strategic foresight and synchronizing data strategies with business goals, all driven by state-of-the-art solutions behind the scenes. 𝐁𝐞𝐜𝐨𝐦𝐢𝐧𝐠 𝐚 𝐃𝐚𝐭𝐚 𝐋𝐞𝐚𝐝𝐞𝐫 Transitioning from a data follower to a leader is challenging but achievable with strategic planning and commitment. Understanding your current data maturity and addressing security, technology, and infrastructure challenges are crucial steps. Ignoring these aspects can lead to severe and costly consequences. #DataLeadership #DataStrategy #DataDriven

We're happy to announce the newest member of our team, Antonio Ilinović, who has joined us as a Data Scientist. We wish you a great start and success in your new role! 🎉 It is a pleasure to have you with us, welcome on board! 🔥 #Talent #AIInnovation #ItFromBit

This week, the It From Bit team, including our founders Mario Brcic and Bruno Segvic, along with our data scientist Stjepan Basic, attended the prestigious [ICML] Int'l Conference on Machine Learning at the Messe Wien Exhibition and Congress Center in Vienna, Austria. As one of the largest and most important ML & AI conferences globally, ICML 2024 has been a hub of innovation and collaboration, attracting more than 9,000 participants worldwide. Being part of this dynamic event was refreshing, surrounded by top scientists and industry leaders from renowned organizations such as Microsoft, Google, Amazon, Apple, and Meta. Some of the key invited talks were by: Vukosi Marivate Chelsea Finn Soumith Chintala Dr. Lucía Magis Weinberg Javier Duarte Lucilla Sioli With hundreds of oral presentations, 2,634 papers, 30 workshops, an Expo, social events, and more, we had the chance to exchange ideas, discuss cutting-edge research, and hear about the most challenging problems in the field and how FAANG companies tackle them. If we had to highlight some of the sessions, it would be: - “𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐌𝐋: 𝐇𝐨𝐰 𝐭𝐨 𝐋𝐞𝐚𝐫𝐧 𝐖𝐢𝐭𝐡 𝐃𝐚𝐭𝐚 𝐓𝐡𝐚𝐭 ‘𝐁𝐞𝐡𝐚𝐯𝐞𝐬’” by Nir Rosenfeld - “𝐌𝐞𝐫𝐠𝐢𝐧𝐠 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥, 𝐂𝐚𝐮𝐬𝐚𝐥, 𝐚𝐧𝐝 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐈 𝐓𝐞𝐜𝐡𝐧𝐢𝐪𝐮𝐞𝐬 𝐟𝐨𝐫 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠” by Shiva Kasiviswanathan (Amazon) - “𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐢𝐧 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐅𝐞𝐝𝐞𝐫𝐚𝐭𝐞𝐝 𝐋𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐏𝐅𝐋-𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐢𝐦𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤” by Filip Granqvist (Apple) ICML was an exciting and insightful event, which left us inspired and full of ideas to integrate into our work. Stay tuned as we share more about our experiences and the exciting developments that lie ahead. #ICML2024 #MachineLearning #AI #DataScience #ITFromBIT #Innovation #Technology #Conference

Proud to share that our Managing Partner, Mario Brcic, helped organize and chaired the session on "Causality and Explainable AI" at the 2nd World Conference on eXplainable Artificial Intelligence in Malta. Kudos to FER students Leon Hegedic, Luka Hobor, Nikola Marić, and Martin Ante Rogosic for presenting their research "Towards Mechanistic Interpretability for Autoencoder Compression of EEG Signals." #explainableAI #causality #categoryTheory #MachineLearning #Conference