Hivedome, in collaboration with University of Essex and Innovate UK, launches Knowledge Transfer Partnership (KTP) to drive innovation in commodity trading risk management software.
Hivedome, a leading provider of advanced Commodity Trading and Risk Management (CTRM) software, has joined forces with the University of Essex and Innovate UK to launch an exciting Knowledge Transfer Partnership (KTP).
The collaboration will integrate cutting-edge artificial intelligence (AI) and machine learning (ML) technologies to enhance data analytics, automation, and security in Hivedome’s flagship software, ITAS Services.
Jason Thomas, Director, Hivedome Ltd., said: “This KTP is a transformational step for Hivedome and potetnially the wider industry. By embedding AI and machine learning capabilities, we aim to revolutionise how data is processed and used in the commodities trading sector."
“The Virtual Assistant will enable users to engage with data in an intuitive way, ultimately driving efficiency and business intelligence.”
The two-year project aims to transform Hivedome’s ITAS Data Portal by developing an AI-powered Virtual Assistant (VA) capable of providing real-time, natural language-driven insights.
This innovation will help transform data access, enabling traders, analysts, and back-office support to derive actionable knowledge from complex datasets. The initiative aligns with Hivedome’s strategic goal to phase out legacy systems by 2030 and future-proof client’s operations with a more intelligent and intuitive platform.
A key milestone in the project is the appointment of a dedicated KTP Associate, Karthik Kolluri, who started this month. Karthik is the specialist who will work closely with Hivedome and the University of Essex to bridge the gap between academic research and commercial application, embedding AI expertise within the company.
Planned wider benefits mean that commodity trading businesses would be able to understand and interrogate data to make informed decisions that could improve supply chain efficiency or reduced carbon emissions through optimised logistics.
The project builds on Hivedome’s established 40-year history and will position it as a leader in AI-driven commodity trading technology solutions.
Part funded by Innovate UK, the KTP scheme fosters collaboration between businesses and academic institutions, accelerating innovation and promoting knowledge exchange.
Through this initiative, Hivedome and the University of Essex will co-develop and implement state-of-the-art technologies that support the evolving needs of the commodity trading sector.
