MoU to create Customer Fund Engine for new fund
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Insig AI plc
("Insig AI" or the "Company")
Insig AI signs Memorandum of Understanding to design, build and host Customer Fund Engine for new fund
Insig AI plc (AIM: INSG), a leading provider of AI-led analytics and machine-learning solutions, is pleased to announce that it has signed a Memorandum of Understanding with the principals of a company to be incorporated in the Far East that is launching a new macro fund. Insig AI will design, build and host the Fund Engine for the customer which will bring information sources on which the fund will rely on into one repository, made available via a web application together with third-party large language models for analysis and decision support. The Fund Engine will be integral to the fund's operations and decision making.
The initial engagement is expected to be for 15 months with expected revenues of $240,000. $120,000 is expected within three months of the commencing of the contract. Immediately thereafter, hosting, development, support and maintenance is expected to commence and charged at $120,000 over the following 12 months.
Richard Bernstein, Chief Executive Officer of Insig AI, commented:
"We are delighted that this new macro fund has selected Insig AI to design, build and host its Engine to ensure that its data is not only structured effectively but will seamlessly and crucially, efficiently connect with LLMs. Our domain specific knowledge in workflows and how they interact with LLMs is our core strength. Businesses that blindly experiment with LLMs without this expertise are taking significant risks at significant cost. This Memorandum of Understanding demonstrates our ability to embed within enterprises as they grow and the increasingly commercial relevance of our offering."
For further information, please visit www.insig.ai or contact:
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Insig AI plc |
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Richard Bernstein |
richard.bernstein@insig.ai |
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Zeus (Nominated Adviser & Broker) |
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David Foreman / James Hornigold |
+44 (0)20 3829 5000 |
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CMC Markets Joint Broker |
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Doug Crippin |
+44 (0)20 3003 8632 |
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