The expert jury at the ICT 2018 conference appreciated the solution’s potential to reduce the time spent in the traffic by more than 20 percent, significantly lower costs and contribution to CO2 reduction in cities.
Sygic, the trusted navigation solutions architect for global businesses has become one of twenty of Europe’s best innovators in Innovation Radar Prize. The expert jury at the ICT 2018 conference has appreciated the positive impact on the quality of life in cities.
The intelligent solution is leveraging the power of IT4Innovationssupercomputer to calculate optimal route distribution for drivers in the city and save more than 20 percent of daily travel time in traffic.
„By orchestrating 500 thousand vehicles with our algorithm, we can save cities and drivers up to 400,000 euro a day,“ said project lead Radim Cmar from Sygic. „Which significantly exceeds the monthly fee for using the supercomputer,“ he added.
The Collaborative Routing algorithm has been created within the project ANTAREX, funded by the European Union. Using ANTAREX technologies, Sygic was able to optimize critical calculations and achieved better energy efficiency with the same performance, which reflected into computation costs reduced by 25 percent.
„We are currently in talks with four cities – in Europe and in the US to start the pilot project,“ disclosed Cmar. The Collaborative routing algorithm is expecting to have a great influence on the quality of life in cities. The reduced number of cars stuck in traffic has the potential to cut down travel and maintenance costs of cars and public transport vehicles, lower air pollution and significantly improve commuting time.
“The fact that our project has received one of the highest counts of votes from the public, confirms how important the question of traffic for all of us in Europe is. We have all the know-how and experience to deploy the solution in any city in the World, which would show interest,” said Sygic CEO Martin Strigac.
Sygic is a devoted supporter of Europe’s plan to build 300 smart cities by the end of 2019. With its unique routing algorithms, developed in coordination with IT4Innovations, it can address the current biggest challenges of European cities related to air pollution and traffic. In Slovakia, the company co-founded I Want My City Smart initiative, which helps municipalities to integrate smart solutions.
The Innovation Radar is a European Commission initiative to identify high potential innovations in research funded by the European Union. The public is invited to vote for their favorite innovators and pick 20 finalists from one of the six categories. The Collaborative Routing algorithm was nominated as the Best Early Stage Innovation, finished second in its category and qualified for the finals which took place at the ICT 2018 conference. Each of the finalists had 3 minutes to present their innovation to the expert jury of investors and experienced entrepreneurs, which decided on the winner.