Improving fish farming with AI and machine learning
Our portfolio company OptoScale is making significant impact on the aquaculture industry with their innovative use of AI and machine learning. The company's real-time monitoring and analysis system, powered by AI and machine learning algorithms, provides fish farmers with accurate and reliable data on fish weight, welfare, and lice status.
Traditionally, this data capturing process has involved manual inspections of farmed fish, which is labor-intensive, costly, and stressful for the fish. OptoScale's automated solution, which replaces these traditional methods of manually catching fish for capturing fish information, has improved the way fish farming is done. Using artificial intelligence and machine learning, OptoScale’s technology means that producers can now assess up to 200,000 fish each day compared to around 50 to 100 fish using conventional approaches.
At Skagerak Capital, we recognize the potential of AI-driven solutions to disrupt traditional industries and create new ones. We are proud that our portfolio company, OptoScale, has leveraged AI to increase customer value in the aquaculture industry and we're seeing a huge value in companies that are at the forefront of AI innovation.
Andreas Eskeland, investment partner at Skagerak Capital, says, "We believe companies that can effectively integrate AI into their solutions will be well-positioned to drive significant business value and gain a competitive advantage in the market. OptoScale is a prime example of a company that has leveraged AI to improve the efficiency and accuracy of the aquaculture industry while ensuring the welfare of the fish."
The company currently has a team of 12 technology experts, including five AI specialists. The team has manually marked thousands of images of fish to help train their AI algorithms, resulting in a highly accurate and reliable automated system that can process tens of thousands of images quickly and efficiently. With OptoScale's real-time data and analysis, fish farmers can make better decisions to improve production and profitability while ensuring the welfare of the fish.
"At OptoScale our focus is that the data should be precise and actionable. AI is key for us to continue to improve our models, which again will increase the precision of the data, and support fish farmers in making informed decisions" Says Ragnhild Hollup, CTO OptoScale
The use of AI and machine learning in fish farming is a game-changer. OptoScale's solution is not only improving the efficiency and profitability of fish farming but also has the potential for broader applications in other industries. As investors in OptoScale, we are excited to be a part of this and to support the company's continued growth and success.