ChatGPT has already shown that chatbots can help with your work, but can AI save you money amid a looming recession?
That concept is part of the motivation behind a new tech challenge launched by the Mayor of London, the winners of which were announced today (Monday, July 24).
Seven companies were awarded up to £50,000 to develop their projects in Sadiq Khan’s ‘Poverty-Prevention Challenge’, including several startups separately using AI to help families struggling with food insecurity, renters, and refugees, respectively.
The winners include Mealia, a free budget planner that harnesses AI to recommend affordable items for your shopping list. Once you enter the meals you want to make, the service finds the cheapest ingredients from supermarkets.
Currently, Mealia only works with Asda, according to the startup’s website, but is promising to add support for Tesco, Morrisons, Aldi, and Sainsbury’s soon. The company plans to use the prize money to expand across London, founder Gabriel Corbet said.
While another AI-powered service, dubbed Mendee, provides refugees with digital- and literacy- support tools in an effort to help overwhelmed non-profits. The startup boasts a chatbot built using OpenAI’s ChatGPT that can translate websites in more than 50 languages.
Fellow winner Mortar Works also uses AI to flag and identify late rental payments. Founded by East London property manager George Unsworth, the startup is aimed at supporting renters with their arrears, and protecting them from seeking out high-cost debt to make payments.
Other winners of the Mayor’s challenge include MatchingMind, a mental health startup that pairs people with therapists; a charity called CAD-HR that helps migrants with their legal and business needs; Time to Spare, a data-management platform for voluntary and community organisations; and debt management service SuperFi.
“The cost-of-living crisis continues to hit Londoners hard and these innovative projects will help thousands who are struggling to make ends meet in the wake of soaring energy costs and food prices,” Sadiq Khan said.
“Local government and community groups are working tirelessly to support residents during the cost-of-living crisis. But as a city we must continue to innovate, and AI and new digital services have a real role to play in assisting that.”
