Vector8 plans to establish an AI competence center in Paris. The globally active company from Basel specializing in data and AI transformation is taking the first step toward this by acquiring wefox’s AI team. Wefox is a digital insurance company that was established in Zurich and now operates out of Berlin. The AI-team in Paris was established in March 2021 with 15 specialists.

According to a press release from vector8, the company is strengthening its data and AI capacities with this step. It is said to be strengthening its insurance expertise both through the team members and through insurance-specific accelerators and intellectual property. It is reported that with this, Vector8 will benefit from wefox’s investments in excellent skilled workers, cutting-edge technology, and industry-leading AI solutions. Gilles Mazars, who is leading the team that was formerly at wefox, stated: “We’re excited to see some of the solutions we have already developed being implemented at scale within the insurance industry.”

Big plans for the future

Vector8 announced its establishment on May 21, 2024. The consultancy company has already announced that it is actively seeking partnerships with academia and technology firms “in the pursuit of its mission to become the AI transformation partner of choice for present and future industry champions.” As such, vector8 plans to grow geographically and further expand its portfolio and capabilities. The company already operates an AI competence center in the North Macedonian city of Skopje.

Referring to the Parisian team, Vector8 Group COO Christoph Thommen spoke of big plans for the future: “Gilles and his team will form a big part of that, helping us establish an AI Centre of Excellence in Paris.”