Silico is the leading provider of business process simulation software. Our proprietary platform connects intelligence, insight and intuition and links them to future actions and outcomes, which empowers organisations to continuously test the impact of different outcomes in a ‘risk-free’ simulation environment before they make changes in the real world.
Silico’s end-to-end solution enables any enterprise to create digital twins of a business process quickly and easily. Within these digital twins, businesses can make, analyse, and explore future outcomes in our secure platform without risking any negative impact on their actual business.
How did you come up with the idea for the company?
My interest in modelling and simulating complex systems originated from my work on the UK Banking System at the Bank of England. After studying complex systems in economics, I pursued a postgraduate degree in Computer Science at UCL and then joined an early-stage simulation company called Simudyne where I met Chris Spencer, Silico’s CTO & Co-Founder.
Chris and I shared a vision around building an easy-to-use simulation platform for the cloud to enable better decision-making in corporations and founded Silico in 2019 with the mission to provide the best platform to deliver this.
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What do you think makes this company unique?
Silico is the world’s first simulation platform developed specifically for enterprise, with enterprise being the core of everything we do.
We give organisations the ability to spot obstacles and start making decisions with the benefit of FutureSight. Our Business Process Simulation (BPS) technology provides a single solution to support businesses with their strategic objectives. It does this by enabling businesses to build an end-to-end digital twin of processes that span teams or functions, connect them to real-time data from across the organisation, and simulate the impact of decisions before they are made in the real world.
By testing a solution virtually within a digital twin of the enterprise, users can gain a competitive edge through business process efficiency.
How has the company evolved over the last couple of years?
Initially, Silico started as a mathematical framework for no-code simulation modelling which was used by customers like the NHS for modelling patient flows during the COVID-19 pandemic. Those early customers helped shaped our vision for an enterprise simulation platform and enabled the creation of the digital twin of the enterprise.
Silico is already working with global enterprises in the telecommunications sector as well as banking, healthcare, and chemical industries. Earlier this year, we raised £3.4mn in seed round investments bringing our investments to £4.5mn since inception. We work with large enterprise customers including the NHS and recently announced a strategic partnership with edgeTI, a leader in real-time digital operations software, that will give organisations the ability to create a digital twin of their entire enterprise.
What can we hope to see from Silico AI in the future?
In the future, you can expect to see us build additional prescriptive capabilities into our Business Process Simulation technology to augment human decision-making, unlocking the next frontier of transformation of digital operations.
We are particularly interested in how simulation can help telco businesses combat the macroeconomic forces at work. We also have some significant client announcements to come over the next quarter so watch this space!