Second, Welcome to Renforce!
Around 2019 with the Financial Services Royal Commission in Australia I saw a market opportunity to lead and simplify the compliance experience, however the deeper we went the more complex the problem seemed to get - with core challenges such as;
One. Most qualitative data not being machine readable (I do not mean it isn’t viewable on a screen as string text) but the inability to apply computation to qualitative information in this day and age is a very serious problem in the technical world
Two. The method of data ingestion, modelling and usability for computation, AI creation and exchanging relies too heavily on the integrity of the data storage applications and executives are not confident in application based conclusions to sign off on agendas or make decisions without human manipulation of the data after system processing.
Three. The dependency of future technologies on the (band-aided) output of the current processing systems resulting in enterprises having to prioritise fixing their current stack over innovating or being able to adopt new technologies such as AI, Blockchain, Web3 based solutions.
Four. An imbalanced ability of resources who can ‘work’ on technologies where most business users rely heavily if not completely on technical/data experts to setup their systems, workflows, information management et al.
This has resulted in a global shortage of resources on one side, with a growing incompetency on the other - overall an industry 4.0 approach must allow business users to augment their work on their systems in a more fluid and native manner.
We soon realised this is not a compliance problem but an enterprise
technology problem, with ageing tech stacks and legacy methods
driving new architectures we are close to the plateau of innovation
in the sector - and so we continued our research and are building
Renforce to address these challenges.