Recognos Financial Selects Expert System Cognitive Technology to Improve Financial Data Management
Recognos Financial developed a new artificial intelligence platform “powered by Cogito” for real-time analysis of large volumes of financial data useful for decision-making processes
– There is continued and growing interest in Artificial Intelligence solutions for optimizing decision-making models that use and exploit unstructured information. Leading semantic data analysis provider Recognos Financial developed an innovative semantic platform for data management that incorporates the cognitive Cogito technology from Expert System.
The Recognos Financial platform uses Cogito within its machine learning workflow to analyze all types of text from diverse, evolving sources in the most complete and accurate way possible. For example, the data on the U.S. Securities and Exchange Commission website contains an enormous wealth of financial information, business documents, statements, forecasts, reports and prospectus from which real-time structured data may be extracted for further analysis or made immediately available for strategic decision-making activities of banks, investment funds, brokerage firms, etc.
Drew Warren, CEO of Recognos Financial stated, “Studies have shown that 80% of all data in a financial services firm is unstructured. In the evolving world of Big Data the primary goal is the aggregation and dissemination of data to facilitate better decision making. Recognos Financial is focused on leveraging the unstructured data in an organization to make this effort far more meaningful to a given firm.”
“In the financial market where the use of an ever increasing wealth of information is rapidly evolving, Artificial Intelligence offers the most convincing response to the issues of data quality,” commented Bryan Bell, EVP, Market Development for Expert System. “Cogito is distinguished by its ability to process information through the comprehension of meaning. It combines “intelligence” and power, flexibility, scalability and ease of implementation, while also offering significant cost-benefit advantages.”