Proof of concept signed with asset manager
15 November 2021
Insig AI plc
("Insig AI" or the "Company")
Machine learning proof of concept signed with multi-billion Euro asset manager
Insig AI plc (AIM:INSG), the data science and machine learning company providing solutions to the asset management industry, is pleased to announce that it has signed a proof of concept exercise with a European asset manager with assets under management ("AUM") of several billion Euros.
In this initial proof-of-concept exercise on one of the client's larger funds (valued in excess of €1 billion), Insig AI has been tasked to use its machine learning data and expertise to analyse and categorise the client's portfolio. More specifically, the objective is to use a combination of linear and non-linear analysis methods to surface and understand relationships within the client's investment datasets comprising approximately 2,000 companies. This will include:
- Identifying if there are relationships that are non-linear;
- Applying machine learning methods to categorical factors;
- Apply a factor screener to find best-performing stocks and portfolios; and
- Analyse twenty different factors, some binary, some continuous.
If this initial factor analysis and general proof-of concept is considered successful by the client, there are non-binding second and third phases of works, with the expectation that upon completion of phase two, the client would enter into a SaaS data framework licence with Insig.
Steve Cracknell, CEO of Insig AI commented: "I'm very pleased to have secured this initial contract. Whilst the initial contract value is small, it gives us the opportunity to apply our expertise to work with not only a prestigious client, but one at the cutting edge of using data analysis to further improve their investment performance. Furthermore, the potential follow-on work programmes become increasingly more involved with commensurate larger as well as recurring revenue opportunities."
For further information, please visit www.insg.ai , or contact:
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Insig AI plc |
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Steve Cracknell, CEO
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Via SEC Newgate |
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Zeus Capital Limited (Nominated Adviser & Broker) |
Tel: +44 (0) 203 829 5000 |
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David Foreman / James Hornigold / Daniel Phillips
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SEC Newgate (Financial PR) |
Tel: +44 (0) 7540 106 366 |
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Robin Tozer / Tom Carnegie / Richard Bicknell |
Email: insigai@secnewgate.co.uk
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