Students find AI solutions to ABN AMRO challenges

A joint venture between ABN AMRO bank and ACE, the university incubator of University of Amsterdam, Vrije Universiteit, Amsterdam University of Applied Sciences and Amsterdam UMC, has resulted in two new innovations developed by AI students.

ABN AMRO presented challenges to students at the AI Startup Lab, an AI-driven lab at Amsterdam Science Park where students build beta versions of companies with input from corporations.

The first challenge focused on sustainability. A team developed a web application that uses data to predict energy supply, helping the bank’s business clients make their properties more sustainable.

In another assignment, students from startup Intrical AI were challenged to develop a tool that automatically generates and updates company profiles. The  product has reached MVP stage (minimal viable product) and ABN AMRO is the company's first client.

“Technologies that address a real problem”

Gabriele Bani, co-founder of Intrical AI, said: “We were given the unique opportunity to understand what it takes for a large corporation to develop a better product. This is a great opportunity for us to develop technologies that address a real problem, while providing a competitive edge."

Dennis de Reus, head of AI at ABN AMRO, called the collaboration a “win-win situation” for companies and universities. “Students learn from the challenges we present to them, and we get the opportunity to increase our innovation capacity and help build new companies,” he said. 

Amsterdam is an AI-ready city

Amsterdam, already recognised globally for its strong tech sector, vibrant startup scene and academic expertise, is considered one of the most AI-ready cities in the world.

This collaboration is one example of the strong, connected AI ecosystem in Amsterdam. Researchers, universities, hospitals, business and public organisations continuously work together to build meaningful AI solutions. The AI Technology for People programme, one of the biggest public-private initiatives, is in full swing, helping the city develop and deploy responsible AI technology.

Read more business news from around Amsterdam.