We are excited to announce that Qualco Group has been honoured at the inaugural “Innovation Challenge” organised by the recently established Hellenic Center for Defense Innovation (HCDI) under the auspices of the Hellenic Ministry of Defence.

The award was presented to our organisation during the Hellenic-French Defense Symposium, held in Athens on December 12-13. The event, which brought together experts in defence innovation and dual-use technologies alongside representatives of the defence industrial sector from France and Greece, was attended by the National Defence Minister, Mr Nikos Dendias.

Our award-winning proposal offers algorithmic solutions to the “Vehicle Recognition in Real-Time” challenge area. It underscores our commitment to researching and developing innovative technological ideas utilising artificial intelligence and machine learning to create new growth opportunities in the defence sector.

HCDI fosters collaboration between the innovation ecosystem and the defence industry to bolster national defence capabilities. The “Innovation Challenge” initiative aims to harness the country’s resources by showcasing pioneering ideas and advanced technologies.

How Energy Companies Are Leveraging AI to Tackle New Challenges

Artificial Intelligence (AI) has demonstrated its transformative potential across various industries, including the energy sector. The sector stands to greatly benefit from AI in addressing significant challenges brought on by changes in consumption patterns and the need for sustainability.

The energy sector encounters numerous operational challenges, from limitations in energy storage to the complexities of grid management, which significantly affect an organization’s resilience and journey toward decarbonisation. The demand for advanced technologies in this sector is undeniable, and unsurprisingly, energy companies are among the first to adopt AI innovations, often through strategic partnerships with startups.

According to Allied Market Research, AI in the energy market was valued at $4 billion in 2021 and is projected to reach $19.8 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031. This growth indicates that large energy companies will continue to hire machine learning and data scientists, while AI-focused startups will keep forming strategic partnerships.

Challenges and Opportunities

AI presents many benefits for the energy sector, enabling it to solve long-standing problems and capitalise on new opportunities. Key areas include:

• Smart Grids: These advanced electrical systems use digital technology to monitor energy consumption and enhance the sustainability of energy distribution. AI analyses energy usage patterns, optimises resources, and improves reliability. It forecasts consumption trends, allocates resources efficiently, and enhances electricity distribution. Additionally, AI detects and rectifies faults, reducing service interruptions and bolstering grid reliability.
• Demand Response Management: This crucial aspect of energy management benefits considerably from AI, which facilitates real-time responses to energy demand fluctuations. By analysing data from various sources and predicting energy demand changes, AI helps adjust the energy supply, enhancing efficiency and reducing costs.
• Energy Storage: AI utilises data analysis to maximise the use of renewable energy sources by optimising their storage and distribution. This approach reduces dependence on unpredictable weather, ensuring consistent power availability even during peak times or when natural resources are scarce. For example, AI can balance solar panel output at night and wind turbine output during calm periods to maintain a steady energy flow.
• Predictive Maintenance: This approach uses machine learning algorithms and predictive analytics to foresee potential equipment issues, allowing for timely maintenance and repairs. AI analyses sensor data, performance metrics, and maintenance records to predict equipment failures, leading to reduced downtime, lower maintenance costs, and enhanced safety.
• Energy Efficiency: AI improves energy efficiency in buildings, vehicles, appliances, and industrial processes by analysing data to provide insights and recommendations on reducing energy consumption and waste. For instance, AI can optimise building energy use by automatically managing cooling and lighting systems.

Collaborations with AI Startups

Startups focused on AI innovation are becoming change catalysts, offering advanced solutions for energy storage and resilient grids. These startups develop innovative solutions that tackle the sector’s challenges, shaping a sustainable energy future.

According to PitchBook, 1,153 deals (financing, M&A, IPO) have been completed globally in the energy tech sector over the last ten years across 676 startups. The total capital invested is $7.0 billion, with a median post-money valuation of $12.5 million. Indicative examples of successful collaboration between corporates and startups in the energy sector include:

SolarCity, now part of Tesla, showcased a successful collaboration to promote residential solar energy use and create a clean energy powerhouse. SolarCity overcame the high upfront costs associated with solar installations and introduced the concept of solar as a service. Tesla found an excellent ally to address its need to help clients overcome rising energy costs.

In Denmark, Salling Group aims to cut energy use across its stores by partnering with AI startup Ento Labs. Similarly, Octopus Energy partnered with Salzgitter Group to provide 126,000MWh of solar energy yearly, aiming to make German steel production more eco-friendly.

Schneider Electric has acquired several innovative solutions startups in the last few years, with EV Connect being one example. EV Connect developed a creative, open charging platform for electric vehicles that matched Schneider Electric’s vision for a more sustainable and resilient world.

Energy Innovation unveils

Qualco Group monitors the developments in the energy sector, especially keeping an eye on the innovations that startups are working on that harness the latest AI technologies to enhance energy production, distribution, consumption efficiency, reliability, and sustainability. Through our Innovation Hub, we highlight the importance of embracing new technologies and fostering a culture of innovation and continuous improvement, which are vital for addressing the energy sector’s complex challenges.

AI thrives in data-rich industries, presenting a unique opportunity for the energy sector to utilise its vast data resources to tackle the challenges of volatile demand, operational disruptions, and decarbonisation. Openness to synergies with AI startups allows established energy companies to implement innovative solutions and explore new digital future concepts.

Qualco Group announces it has acquired a majority stake of 70% in Middle Office, a company providing specialised services to manage and monitor Wholesale Portfolios effectively.

The partnership marks the establishment of the Business Process Outsourcing Unit within Qualco Group, which will address banks, Servicers, and utilities. These new services will enable the organisation’s clients to focus on business growth through automated processes and access to advanced technologies, alongside resource and cost optimisation.

Established in 2022, Middle Office provides banks and Servicers with ISO 9001-certified loan management services, including loan and credit support, loan lifecycle management and legal action implementation support.

At the same time, the company has developed the MOS SYSTEM, a proprietary, scalable, real-time loan and collateral management system. This allows clients to manage loan relationships holistically. Combined with Qualco Group’s proprietary technology, it is expected to drive significant changes in the financial sector.

“At Qualco Group, we constantly explore new opportunities to broaden the scope of our services, creating value for our clients. Our partnership with Middle Office, a well-established company in Business Process Outsourcing, further enhances our efforts in this respect”, stated Mr Miltos Georgantzis, CEO of Qualco Group.

Mr Kostas Moraitis, Founder and CEO of Middle Office, said: “We are pleased that Middle Office, after a successful journey, joins Qualco Group. We are confident that the organisation will capitalise on our experience, unlocking significant synergies and positively impacting the financial landscape.”

The pressing matter of the demographic crisis was the key theme of the panel discussion “The Immense Economic Impact of the Demographic Issue in Greece 2025-2050 ” on the last day of the Delphi Economic Forum IX.

Orestis Tsakalotos, Executive Chairman of Qualco Group, moderated the panel alongside distinguished individuals from the political, social, economic, and academic scenes:

• Domna Michailidou, Minister of Labour & Social Security
• Alexandra Tragaki, Professor at Harokopio University
• Byron Kotzamanis, Research Director at the Institute of Demographic Research (IDR)
• Eva Papadaki, Project Manager of HOPEgenesis
• Panos Xenos, Assistant Professor at the Department of Statistics and Insurance Science, University of Piraeus
• Apostolos Gkoutzinis, Partner at Milbank LLP

The discussion highlighted the complexity and persistence of the demographic issue, spanning decades without a clear starting point for resolution. Foundational reforms are needed from the country and its citizens to address it and work towards long-term solutions.

At the same time, it became evident that several initiatives and policy decisions are underway across all ministries, although their effectiveness remains to be seen in the future.

The multifaceted nature of the demographic challenge was emphasised, with socio-economic and behavioural dimensions. Additionally, the “silver economy” emerged as a positive demographic trend involving the production of goods and services by individuals over 65.

Lastly, the moral aspect was underscored, emphasising that addressing this issue brings together political, social and ethical principles that guide personal and social behaviour. Optimism and cherishing future generations’ well-being were identified as the key factors in shaping the next day.

Tune in to watch the full discussion.

Optimism and significant positive messages about the impact of innovation on the economy and society were the key outcomes of the “Innovation Made in Greece: Social and Economic Impact” panel, during the 2nd day of the Delphi IX Economic Forum on April 11.

Laura Ioannou, Chief editor and political analyst at ALPHA TV, moderated the panel alongside

• Our very own Spyros Retzekas, Chief Operations Officer of Qualco
• Maximos Senetakis, Deputy Minister of Development, Hellenic Republic
• Alexandros Paterakis, Deputy Managing Director of Digital & Advanced Services of PPC Group
• Spiros Margaris, Venture Capitalist and Founder of Margaris Ventures
• Antonis Tzortzakakis, CEO of 5G Ventures and Phaistos Investment Fund
• Michalis Tsarbopoulos, Chief Digital Officer of Alpha Bank and
• Christophoros Anagnostopoulos, Partner of Quantum Black, AI by McKinsey

They shared their insights, creating a very fruitful discussion.

Mr. Retzekas pointed out the importance of the tech sector for Greece’s economy to stay strong, sustainable, and growing. He said, “People working in tech can enjoy better living standards, which helps Greece’s economy.” He also talked about how Greek tech companies can sell their products abroad, like Qualco, which generates 70% of its revenue from international clients, boosting Greece’s economy at home. He also mentioned how AI could accelerate Greece’s economic growth even more by making IT companies more competitive and innovative.

People working in tech can enjoy better living standards, which helps Greece’s economy.

Mr. Margaris discussed how Greece could become a top player in the global FinTech scene. He said, “It’s good for a country if the government and regulators support not only small startups but also big tech companies.” He believes Greece has what it takes to be known as a country where startups thrive, not just for its tourism. He also talked about the kind of leaders Greece needs to prepare for the future, saying, “We need leaders who can inspire people. Managers and government officials should inspire others to succeed.”

We need leaders who can inspire people.

Watch the full panel discussion:

Qualco Group announces the appointment of Spiros Margaris, the venture capitalist behind Margaris Ventures and global pioneer in Fintech, Finance, and Artificial Intelligence (AI), to its Technology Advisory Board. His comprehensive grasp of global technology trends and dedication to promoting financial inclusivity through AI will contribute to the organisation’s strategic trajectory and further growth.

Mr Spyros Retzekas, Chief Operating Officer at Qualco, commented: “We warmly welcome Spiros Margaris, the Founder of Margaris Ventures and a distinguished venture capitalist, to our Technology Advisory Board. Mr Margaris is a leading figure in the global Fintech, Finance and Artificial Intelligence (AI) sectors. His valuable advisory background, experience guiding two unicorn Fintech companies and unwavering commitment to democratising financial technology make him an indispensable asset to our management team. His involvement will be pivotal in ensuring our leadership as pioneers in the financial services industry.”

“I am honoured to join the Qualco family, a step that resonates with my path and vision,” stated Mr Spiros Margaris, venture capitalist & Founder of Margaris Ventures. “Qualco’s dedication to reinventing credit management aligns with my commitment to accessible innovation. Together, we aim to lead global financial services into a new era, setting unprecedented benchmarks.”

Spiros Margaris Bio

Spiros Margaris is a venture capitalist (Margaris Ventures), futurist, senior advisor and investor in several companies in the Fintech, Insurtech, Cybersecurity, Health Care, and AI sectors. Two Fintech start-ups he advised have become unicorns, with over $1 billion valuations. Mr Margaris is the first international influencer to achieve “The Triple Crown”, the No. 1 International FinTech, Blockchain, and AI influencer ranking by Onalytica. He is acknowledged for his publications and keynote speeches at international conferences.

Qualco Group today announces it has acquired a majority stake of 51% in Synthetica, a Data Science and IoT company specialising in the Maritime sector.

Using the “Digital Twin” concept combined with a consultative approach to complex problem solving, Synthetica monitors the operations of a vessel, identifies potential issues and offers decision-making tools that measurably improve asset efficiency and profitability, with its products installed in some of the industries most prominent fleets.

Qualco Group and Synthetica aim to expand their joint propositions and international client footprint through this strategic move.

Mr John Gikopoulos, Chief Innovation Officer & Head of Applied Intelligence at Qualco Group, commented: “We are excited to announce our partnership with Synthetica, a pioneering data science and IoT company. This strategic move will enable us to leverage our combined advanced technologies and expertise to drive industry change and benefit our Maritime clients significantly”.

“We are confident that Qualco Group’s vision, reach, and expertise will enable us to deliver even more innovative and scalable AI-driven solutions to the international market. We are excited about the opportunities this acquisition brings and look forward to working together to unlock its full potential”, Mr Damianos Oikonomidis, CEO of Synthetica, stated.

It was revealing to watch the panel discussion “The evolution of ESG: The role of electrification and the digital agenda in mobility” at Delphi Economic Forum VIII on April 27. Experts came to enlighten us regarding the current state of electromobility in Greece alongside future challenges.

Michael Georgiadis, Director, Nemo Digital at GOCAR, was the moderator of the panel, along with Miltos Georgantzis, CEO of Qualco Group; Ioannis Xifaras, Secretary General of Transport Ministry of Infrastructure and Transport; Alexandra Sdoukou, Secretary General for Energy & Mineral Resources, Ministry of Environment and Energy; Dimitris Papastergiou, President Central Union of Greek Municipalities; Nikos Giannousas, CEO & Chairman of the Board at VOLVO Car Hellas; Joost Vandomme, CEO of ERTICO-ITS Europe, Belgium; and Tassos Manos, CEO of HEDNO sharing their insights concerning the evolution of electromobility, challenges, and opportunities.

Regarding how the financial sector can help car companies, Mr Georgantzis said, “Let’s focus on the why instead of the how. Reaching the goal of 800,000 electric vehicles by 2030 means that every car sold should be electric. And it’s not enough to convince the consumer to use an electric car instead of an IC engine one. It’s the cost that should be reduced to achieve competitiveness.”

“Regarding financing, we should first consider the user and then turn to alternative ESG-labeled funding sources.”

About financing innovation in electromobility, Mr Georgantzis highlighted, “First, we should consider the user experience. Granting a car loan in Greece from the traditional banking sector is still difficult due to regulatory constraints. Instead, we should turn to alternative sources of capital like the rest of the world, namely green or ESG-labeled funds.”

Watch the full panel discussion:

Will emerging technologies bring a paradigm shift to the maritime industry? The “Envisioning blue oceanic affairs with emerging technologies” opened the 2^nd day of the Delphi Economic Forum VIII on April 27, with experts sharing their insights.

Aspasia Pastra, Associate Research Officer, World Maritime University, Sweden, was the moderator of the panel, along with our very own John Gikopoulos, Chief Innovation Officer and Head of Applied Intelligence; Yoss Leclerc, President & CEO, Logistro Consulting International Inc., Canada; Steven G. Keating, United States Observer to the IHO/IAG Advisory Board on the Law of the Sea, USA; Tafsir Matin Johansson, Assistant Professor, World Maritime University, Sweden; Panos Zachariadis, Technical Director, Atlantic Bulk Carriers Management, Greece; Thomas Aschert, Remote Survey Global Operations Manager, Marine & Offshore, Lloyd’s Register, Germany.

Regarding how Artificial Intelligence will bring the paradigm shift in the maritime sector, Mr Gikopoulos stated: “We are talking about one of the largest and yet, unpenetrated sectors, in terms of technology. Consequently, there is a massive opportunity for change. Focusing on innovative technology, the ability to understand, monitor and predict what happens on a vessel is where AI can make real difference.

In such a traditional legacy field, the biggest challenge is the human factor.

What about the challenges related to these emerging technologies in the sector? “The biggest challenge is the human factor. Maritime is traditionally a legacy field. Things have been done in certain ways for the past 50 years. Thus, change is extremely challenging. A complete shift won’t come within 3 or 5 years. There is high fleet utilisation right now, making it difficult to change how vessels are run.”, Mr Gikopoulos said.

Tune in the whole discussion: