The new year began with a significant number of new contracts for WITSIDE, one of the most innovative Greek companies in the development of solutions and applications, which utilize BigData & artificial intelligence (AI) technologies.
The company continuously invests in research and development with a focus on artificial intelligence solutions, which can be an important tool for offering effective strategy for businesses, achieving secure business predictions.
This fact differentiates WITSIDE from the competition, since artificial intelligence solutions are not a panacea and need specific conditions in order to be successful, which not all companies have. “Reflection on the potential of artificial intelligence has become widespread and Greek businesses and organizations investing in AI solutions to improve processes and results are increasing,” Christos Papadopoulos, CEO of WITSIDE, noted. “We expect this trend to continue in the coming years and we estimate that growth rates will strengthen in the near future,” he added.
WITSIDE’s goal is to enhance its potential and maintain a high growth rate by strengthening its presence in Greece and expanding in new markets. The company has implemented important projects for banking, commerce and the medical sector with the AI-Patholab project, and analysis of histological data for proper diagnosis and treatment.
In 2023, WITSIDE increased its human resources by 20%, while its sales rose by 27% to 4.05 million euros. Its earnings before taxes, interest and depreciation (EBITDA) increased by 60% and amounted to 780 thousand euros.
The company expects a sales increase of more than 5 million euros in 2024 and EBITDA of more than 1 million euros. At the same time, the company had zero borrowing and high liquidity. It also strengthened its customer base and completed important projects in the areas of BusinessIntelligence, DataManagement and AdvancedAnalytics, while solutions utilizing BigData and AI showed particular growth.
