Financial News
NumHTML: Numeric-Oriented Hierarchical Transformer Model for Multi-task Financial Forecasting
Yang, Linyi, Li, Jiazheng, Dong, Ruihai, Zhang, Yue, Smyth, Barry
Financial forecasting has been an important and active area of machine learning research because of the challenges it presents and the potential rewards that even minor improvements in prediction accuracy or forecasting may entail. Traditionally, financial forecasting has heavily relied on quantitative indicators and metrics derived from structured financial statements. Earnings conference call data, including text and audio, is an important source of unstructured data that has been used for various prediction tasks using deep earning and related approaches. However, current deep learning-based methods are limited in the way that they deal with numeric data; numbers are typically treated as plain-text tokens without taking advantage of their underlying numeric structure. This paper describes a numeric-oriented hierarchical transformer model to predict stock returns, and financial risk using multi-modal aligned earnings calls data by taking advantage of the different categories of numbers (monetary, temporal, percentages etc.) and their magnitude. We present the results of a comprehensive evaluation of NumHTML against several state-of-the-art baselines using a real-world publicly available dataset. The results indicate that NumHTML significantly outperforms the current state-of-the-art across a variety of evaluation metrics and that it has the potential to offer significant financial gains in a practical trading context.
4 Benefits of Digital Transformation
The benefits of digital transformation derive from the combination of its two key building blocks, technology and people, though there's debate about which plays a more important role. Clearly, it's technological advances that make digital transformation possible – big leaps in cloud computing, data analytics, edge computing, and artificial intelligence. On the other hand, you'll often hear that "digital transformation is about people, not technology." However, at its most advanced, digital transformation is not precisely about people or technology, but about the relationship between people and technology. When these two powerful entities are merged with a digital transformation strategy, a business reaps major productivity benefits that neither element can deliver by itself.
AIMMO bags $12M Series A to advance data labeling technology – TechCrunch
Most artificial intelligence models are trained through supervised learning, meaning that humans must label raw data. Data labeling is a critical part of automating artificial intelligence and machine learning model, but at the same time, it can be time-consuming and tedious work. A Korean startup called AIMMO, which uses software and humans to label and categorize image, video, sound, text and sensor fusion data, built an AI data annotation platform, enabling the data labeling faster for enterprises. AIMMO announced today it has raised $12 million in a Series A round to advance its data labeling technology and spur global expansions. Seven venture capital firms participated in the latest round: DS Asset Management, Industrial Bank of Korea, Hanwha Investment & Securities, S&S Investment, Toss Investment, Korea Asset Investment & Securities and Venture Field.
Growth Acceleration Partners Sees Record-breaking YoY Revenue Growth In 2021
Growth Acceleration Partners (GAP), a strategic technology solutions partner, experienced strong growth in key strategic areas this year, including record-breaking YoY revenue growth, onboarding several new enterprise clients, adding a plethora of highly diverse GAP employees (GAPsters) along with doubling down on its robust giving initiatives. "GAP's 40 % growth in 2021 can be attributed to the incredibly talented GAPsters who dedicate themselves to ensuring customer success," said Joyce Durst, co-founder, and CEO. "Our talented engineering teams, coupled with a surging market demand for digital transformation expertise and strong client partnerships, yielded explosive growth for our company." The number of GAPsters increased substantially this past year, bringing GAP over the 500-employee mark. As a woman-owned and led company, GAP continues to focus on diversity in hiring and recruitment, with a focus in recruiting women engineers.
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Form 424B5 Artificial Intelligence
This summary highlights selected information about us and this offering appearing in this prospectus supplement, the accompanying prospectus and the documents incorporated or deemed incorporated by reference herein and therein. This summary may not contain all of the information that you should consider before making an investment decision. You should read carefully the more detailed information included or referred to under the heading "Risk Factors" of this prospectus supplement and the other information included in this prospectus supplement, the accompanying prospectus, the documents incorporated or deemed incorporated by reference herein and therein, including our Annual Report on Form 10-K for the year ended February 28, 2021, before deciding to invest in our common stock. Artificial Intelligence Technology Solutions Inc. or AITX is a Nevada corporation that, through its three subsidiaries, focuses on applying advanced artificial intelligence (AI)-driven technologies, paired with multi-use hardware and supported by custom software and cloud services, to intelligently automate and integrate a variety of high-frequency security, concierge, and operational tasks. As of December 28, 2021, RAD I, AITX's primary operating subsidiary, has 205 units deployed and approximately 50 units on backorder.
SenseTime IPO lands Chinese professor $3.4bn fortune
Just weeks after the U.S. placed a unit of SenseTime Group Inc. on a blacklist for alleged human rights violations, the firm is about to make founder Tang Xiao'ou one of the world's richest people. China's largest artificial intelligence company priced its initial public offering at HK$3.85 (49 cents) per share, raising $5.55 billion. That was the bottom of the expected range, but a signal that despite increased tensions with the U.S. and Beijing's crackdown on tech giants, the country, including its vast surveillance machinery, continues to churn out huge fortunes and massive gains for venture capitalists. Tang, 53, a Massachusetts Institute of Technology graduate and information engineering professor at the Chinese University of Hong Kong, holds a 21% stake in the company and is worth $3.4 billion, according to the Bloomberg Billionaires Index. A representative for SenseTime declined to comment on Tang's net worth.
Zurich agrees to acquire artificial intelligence start-up
In a statement, Zurich said that the acquisition would "further enhance" its digital capabilities and help it create "a consistent and efficient approach to developing intelligent virtual assistants across businesses, for both internal and external purposes." "Technology is playing a critical role in advancing Zurich's customer-focused strategy by differentiating the offering, improving the customer experience, and streamlining interactions," Zurich said in its statement. "Conversational AI is central to meeting increasing demand from customers for personalized products and services that are available around the clock." "We have spent decades to learn how to communicate with computers through different programming languages," said Ericson Chan, group information and digital officer at Zurich. "Now it is time for computers to learn how to have a personal conversation with all of us. Natural language processing is key to further enhance customer experience, complementing human interaction in the most natural way. We are very pleased to have AlphaChat join Zurich to help us further advance our digital transformation."
Oracle just made its biggest ever acquisition for Cerner's AI
Oracle's gargantuan $28.3 billion acquisition of health care data company Cerner, the largest deal in its 44-year history, is not just about electronic patient records. From algorithmic systems that predict the likelihood a patient will contract sepsis to tech that tracks hospital bed capacity, Cerner will bring an array of cloud-based data analytics and AI technologies to Oracle as it competes with Amazon Web Services, Google, IBM and others to serve the health care industry's data and AI needs. In fact, the deal is poised to shift some business away from AWS, which Cerner named as its preferred cloud partner in 2019. Oracle's acquisition of Cerner, a company that got its start in health care IT in 1979, is expected to close in 2022. The all-cash deal is also expected to improve Oracle's bottom line in its first year, the company said in a press release.