Credit Suisse Launches AI Sentiment Index In Collaboration With RavenPack

Oct 26 2017 | 5:46pm ET

Global financial services giant Credit Suisse has teamed with fintech company RavenPack to launch a new index that will use artificial intelligence to glean data about sentiment from news and other data points.

The new index, named the Credit Suisse RavenPack Artificial Intelligence Sentiment (AIS) Index, is a result of a collaboration with RavenPack to create quantitative investment strategies from news analyses leveraging RavenPack’s artificial intelligence algorithms, according to a statement Thursday.

The AIS Index tracks the notional performance of an algorithmic U.S. large-cap sector-rotation strategy, harnessing the power of big data analytics to make sector allocation decisions in a tradable and systematic way. The strategy is based on sentiment scoring extracted from news data by AI algorithms, and it represents Credit Suisse’s entry into the growing field of big data-driven investment analysis.  

The AIS index is CS’s first quantitative investment strategy resulting from its collaboration with RavenPack, the statement added. 

"Big data and artificial intelligence present a huge opportunity for the financial services industry, and this milestone collaboration with Credit Suisse shows the increased value our news analytics can provide to equity investors," said Armando Gonzalez, CEO of RavenPack, in the statement. 

Founded in 2003 and based in New York, RavenPack provides big data analytics provider to financial services firms. The company’s products and extensive database allows financial professionals to analyze large amounts of unstructured content and incorporate effects of public information in their models and workflows. The company’s clients include some of the largest hedge funds, banks, and asset management firms around the globe.

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