Insig AI Plc Proof of concept signed with asset manager (3051S)

TIDMINSG

RNS Number : 3051S

Insig AI Plc

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 EUR1 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    Tel: +44 (0) 203 829 5000 
  & Broker) 
 David Foreman / James Hornigold / Daniel 
  Phillips 
 SEC Newgate (Financial PR)                 Tel: +44 (0) 7540 106 
                                             366 
 Robin Tozer / Tom Carnegie / Richard       Email: insigai@secnewgate.co.uk 
  Bicknell

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November 15, 2021 02:00 ET (07:00 GMT)

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