Birmingham data science and artificial intelligence (AI) consulting firm StrategyWise said it is poised to triple the size of its data science practice through a recent acquisition.
The company was acquired last month by E Source, which provides data science, research and consulting services for over two-thirds of the electric, gas and water utilities in the United States and Canada.
E Source said it acquired StrategyWise as it looks to expand its data science and AI capabilities. Over 20 million Americans directly interact with StrategyWise’s algorithms annually, and the company uses clients’ data to give insights into how to create more value in their business.
Jones
The company has recently seen tremendous growth in its utility practice, said Joshua Jones, now vice president of market innovation for E Source and the founder and former CEO of StrategyWise.
“The utility industry is primed for the types of innovation that machine-learning and AI can offer,” Jones said. “We’re seeing utilities ranging from smaller municipality-owned entities all the way to the largest in the country leveraging new machine-learning tools that are going to really change the way they do business.”
Though E Source is headquartered in Boulder, Colo., Jones and his staff of 15 will remain in Birmingham, where the company was founded 10 years ago.
“We consider Birmingham home,” Jones said. “We’ve received tremendous support from the Birmingham community, and it has been a great place to grow the business.”
This creates a Southeastern hub for E Source, which saw Birmingham as a good choice because of its geographic proximity and accessibility to the entire Southeastern region, Jones said.
Just three weeks into the acquisition, StrategyWise, which officially becomes a part of E Source in name on October 1, is already experiencing growth in revenue and profitability, Jones said.
“I believe this is a time when utilities are really determined to embrace innovation and new technology in a way that we haven’t seen in the past,” he said. “It’s truly exciting to be on the cutting edge of those technologies and able to support our clients through those digital transformation efforts.”