Golden Copy: Learning to Master the Machines
More machine learning efforts are arriving for financial data management, but are they well guided?
This past week saw two new machine learning efforts for financial data management – Bloomberg's Liquidity Assessment Tool, just launched, and StockViews, a crowdsourcing investment platform that reaped new funding for applying machine learning and artificial intelligence to enhance its crowdsourced research on companies.
We have also seen other machine learning initiatives for financial data in recent weeks and months. In late February, Velocimetrics, a performance measurement and analytics provider, announced that it had added machine learning techniques to its market data quality solution.
Last year, WorkFusion executive Adam Devine shared how the company was applying artificial intelligence to the automation of repetitive data processing tasks. And IIROC, Canada's major self-regulatory organization, has completed a machine learning project to segment market participants.
Also last year, in this column, I identified AltX, Dataminr and Verafin as companies that are making use of machine learning in different ways to yield greater insights from data, whether for portfolio managers or for compliance purposes.
These add up to quite a few machine learning ventures, and could be just the tip of the iceberg within the financial industry. The question that must be asked is whether the hands guiding any or all of these efforts are using machine learning processes effectively to gain more useful insights from data in order to produce intelligence that is indeed actionable.
Often, the rationale for using machine learning is indeed automation of data processing, as WorkFusion does. Automating data processing produces efficiency, but doing so with artificial intelligence or machine learning is the key factor in raising data quality, or at least avoiding the decline in data quality that would inevitably occur in automation without an intelligence factor to reduce errors.
Since last year, judging by the emergence of these recent new ventures, confidence in machine learning and artificial intelligence seems to be continuing its rise. Yet even the efforts begun less recently must still build a track record of effectiveness and value for their users.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
Symphony boosts Cloud9 voice offerings with AI
The messaging and collaboration platform builds on Cloud9’s capabilities as it embraces the AI wave in what CEO Brad Levy calls “incremental” steps.
MSCI counts the cost of bank M&A, looks ahead to custom indexes, AI
Cancellations of overlapping contracts following a bank merger put a dent in MSCI’s earnings, but management remains upbeat about the potential of recent acquisitions and new technology developments.
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
This Week: HKEx's new derivatives platform; GoldenSource; Quonian-SimCorp, and more
A summary of some of the latest financial technology news.
Chris Edmonds takes the reins at ICE Fixed Income and Data Services
Edmonds is now leading ICE’s fixed income and data business as the rush to provide better data and analytics in fixed income builds.
Deutsche Börse democratizes data with Marketplace offering
Deutsche Börse Group is set to unveil its Marketplace, a one-stop data shop designed to simplify and streamline data acquisition and consumption for its clients, while also surfacing data from across the firm to its own users. Jan Stiebing and Sven…
DSB says industry is ready to meet UPI mandate ahead of deadline
The Unique Product Identifier will be required for certain OTC derivatives in the EU at the end of April, following US adoption in January.
Mapping a successful data journey: strategy, execution and sustainability
A well-planned data journey can positively impact an organization’s long-term trajectory. However, it is important to have clarity not only in the strategy but also in successful execution and sustainability for the long haul, argues data veteran Subbiah Subramanian.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs