VECTOR Labs is a company founded in 2018, focused on providing comprehensive solutions based on artificial intelligence. We master the entire lifecycle of AI and machine learning creation—from strategy definition, specification of appropriate applications, model and system architecture and design, development, testing and validation, to deployment in a production environment and process adaptation. All this leads to the successful implementation of AI-powered systems that deliver real added value and positive ROI for our clients. Our expertise spans various industries, including healthcare and pharmaceuticals.
How would you describe your company to someone who knows nothing about it? What inspired you to embark on this mission?
The company’s development can be divided into two stages.
The first stage is directly linked to the Podarete Kniga (Give a Book) Foundation, which has been a partner in the company (then called Childish) since its establishment in 2018. The foundation serves as a mediator between children in institutions and a network of over 500 permanent volunteers, dedicating their time to around 400 parentless children living in 18 institutions across the country. The creation of Childish as a software development company was driven by the idea of sharing part of its profit with the foundation. This directly supports the volunteer cause, enabling people to mentor and become friends with these children.
The second stage of the company’s development involved expanding into complex systems based on artificial intelligence. We succeeded in building a strong team with diverse expertise in the field of AI. Our leading data scientists have over 15 years of experience, primarily gained abroad in industries such as healthcare, pharmaceuticals, and banking.
In how many and which countries do you operate, and what attracts you to these markets? What are the unique challenges and opportunities there?
We operate mainly in Europe and the USA. The challenges in these markets are similar but not identical. Our opportunities are significant because we offer solutions that go beyond the design and development of AI-based models. We also provide additional services such as data extraction, processing, and preparation, followed by the integration of the models into clients’ processes. This allows our clients to maximize the value derived from using artificial intelligence.
What are the biggest challenges in healthcare systems, and how do your technological solutions help overcome them?
The main challenges in healthcare systems include a shortage of qualified personnel, the sustainability (or lack thereof) of healthcare systems and the principles on which they are built, the slow adoption of modern technologies, and the difficult transition from reactive to preventive medicine.
Our solutions aim to directly or indirectly address these issues. For instance, we have developed models for early and straightforward assessment of risk factors for liver steatosis. These models support doctors in making probabilistic decisions, provide patients with accessible solutions, and help health insurance funds reduce costs by detecting such conditions—often progressing asymptomatically—early enough to prevent their advancement into steatohepatitis or other severe diseases.
Do you have a favorite product or service your company offers? What makes it special, and how does it benefit patients and healthcare systems/institutions?
What makes our team happy and proud is that every aspect of our expertise brings concrete benefits to patients. Here’s an example: Federated Learning, which our science leaders utilize to personalize radiotherapy for cancer patients across different hospitals without the need to centralize their data; improving clinical trials through decentralized analysis of innovative therapies; designing and developing models for detecting heart problems based on personal ECG signals; models for market entry of new drugs; Computer Vision analysis of CT/PET scan results; optimization models for hospital bed occupancy, and more.
All of these are examples where, whether directly aimed at major pharmaceutical companies, emerging healthtech startups, or hospitals, the ultimate result is improved outcomes for the patients themselves.
If your AI and ML solutions could speak, what do you think they would say about the challenges and successes in healthcare so far? Are we ready for them?
I think they would say: “Give us a chance to show that we can be much more helpful than you expect, if you trust us.”
The greatest benefits of implementing AI will come when we are ready to rewrite the system. Currently, we are trying to replace certain isolated parts within existing processes, which has its benefits but does not fully unleash AI’s potential and the advantages we can derive from it.
What motivated you to join the Bulgarian Cluster for Digital Solutions and Innovations (DHI Cluster)?
The DHI Cluster is an innovative organization with ambitions and goals that align with our views in the healthcare sector. We develop complex and innovative solutions based on artificial intelligence, and we see the DHI Cluster as a natural partner through the initiatives it supports and promotes.
More about Nick:
Nick Nikolovski is the CEO and managing partner at VECTOR Labs. He holds an economics degree from Germany and an MBA from Durham University Business School in the UK. He gained experience as a consultant in capital markets and banking and financial institutions in Frankfurt, Luxembourg, and London. In 2017, he shifted his career in London towards AI consulting. His clients, whose AI implementation strategies he develops and manages, come from industries such as pharmaceuticals, finance, technology, and logistics.
