Big Data: RavenPack Collaborates With Credit Suisse On New AI Sentiment Index

Big data for financial services specialist RavenPack is providing its algorithmic power to Credit Suisse to launch the Artificial Intelligence Sentiment (AIS) Index. The AIS Index tracks the performance of a US large-cap sector-rotation strategy, based on sentiment scoring extracted from news data by RavenPack's artificial intelligence algorithms. Armando Gonzalez, president and CEO, RavenPack, said there have been a few attempts from companies to create such indices but these have tended to be more like ETFs and other products. "To my knowledge, there hasn't been anything as high level or as prominent where there is an actual bank that is looking to deploy this type of index; there is definitely novelty in the grandeur of the application, where before it has only been tried mostly in the social media space and perhaps more from a marketing standpoint," said Gonzalez. Newsweek is hosting an AI and Data Science in Capital Markets conference in NYC, Dec. 6-7.