Company Announcements

Proof of concept signed with asset manager

Source: RNS
RNS Number : 3051S
Insig AI Plc
15 November 2021
 

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:

 

Insig AI plc

 

Steve Cracknell, CEO

 

Via SEC Newgate

Zeus Capital Limited (Nominated Adviser & Broker)

Tel: +44 (0) 203 829 5000

David Foreman / James Hornigold / Daniel Phillips

 

 

SEC Newgate (Financial PR)

Tel: +44 (0) 7540 106 366

Robin Tozer / Tom Carnegie / Richard Bicknell

Email: insigai@secnewgate.co.uk

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCFLFSELILSLIL