FactSet has teamed up with AI software specialist CID to build a joint data lake for the financial services industry. The data lake merges unstructured public web content with FactSet’s structured content sets, along with optional third-party and client content, into vast entity relationship graphs. The aim of the multi-year collaboration is to provide FactSet clients with tools to extract valuable insights from qualitative, unstructured datasets, in turn improving business processes and client interaction.
CID is an AI software innovator headquartered near Frankfurt, Germany, set up in 1997, and offering what the company describes as a ‘thematic intelligence’ platform. Called Affinity, the platform allows asset managers to build better investment solutions by enriching fundamental data with qualitative insights.
“The alliance with CID strengthens our AI capabilities so that clients can benefit from more actionable insights,” says Jonathan Reeve, executive vice president, head of content and technology solutions at FactSet. “The collaboration allows the CID no-code technology to seamlessly integrate with our data feed and API offerings to provide clients with self-service AI at scale.”
Alexander Loerch, managing director at CID, comments: “When qualitative insights mesh with fundamental and unstructured data, incredible things can happen.”
Beyond their initial collaboration, FactSet and CID will continue to work together to release additional AI-related products and services designed to strengthen FactSet’s AI capabilities.
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