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Tag: Waiker AI

  • Waiker develops AI technology specialized in stock market data and partners with LSEG for global data business

    Waiker develops AI technology specialized in stock market data and partners with LSEG for global data business

    Waiker announced on October 4th that it has entered into an exclusive Proof of Concept (PoC) contract with the London Stock Exchange Group (LSEG) to provide AI data services based on Large Language Model (LLM) to global investment banks, including Citi, HSBC, and Nomura. Starting from the fourth quarter, Waiker’s data services will be gradually supplied to LSEG’s global clients through the PoC contract.

    Founded in 2020, Waiker has developed AI NLP (natural language processing) models specialized in stock market data that accurately and swiftly convert target data from global companies’ various disclosures, investor relations, and news articles into its databases. Previously, Waiker entered into a Memorandum of Understanding (MoU) with Refinitiv, the world’s second-largest stock market data production and distribution company, now a subsidiary of LSEG. The startup has undergone technological verification for 15 months to validate its AI data extraction, accuracy, speed, and performance.

    Waiker CEO Elvin Hwang stated, “The contract signed with LSEG stipulates that target data from disclosures, news, and reports within the digital environment will be processed with AI and conveniently provided according to the demands of potential clients, including securities firms and asset management companies.” He added, “LSEG currently has over 40,000 clients, which implies that the product supply will be targeted towards these clients.”

    Over years of extensive R&D on NLP, Waiker has gained recognition for its potential within specialized fields compared to general-purpose LLMs. Company disclosures including business contracts, management decisions, M&A, and changes in beneficial ownership are unstructured, typically centering on text and including numbers and facts, thereby causing irregularities and ambiguities. Compared to data stored in database cell formats or annotated data within documents, it is nearly impossible to analyze and collect this information in one’s database through simple crawling or scraping.

    Therefore, the added value of such data is significant when utilized by securities and asset management industries, resulting in annual cost expenditures of hundreds of thousands of dollars per corporate client. Waiker AI will provide data according to client demand, automatically analyzing and datafying unstructured information into various languages including English and Korean, via over 7B training data.

    Waiker anticipates that the PoC and joint business contract will serve as a catalyst for its global revenue growth. The collaboration between LSEG and Waiker’s specialized Large Language Model (sLLM), which can datafy unstructured information of listed companies in major stock markets including the United States, India, Japan, China, and South Korea, is expected to establish global presence and serve as an opportunity to enhance mutual benefits for both companies.

  • Waiker’s AI Reporter ‘Seohakgaemi-Bot’ Achieves 11.2M Views in First Year

    Waiker’s AI Reporter ‘Seohakgaemi-Bot’ Achieves 11.2M Views in First Year

    Waiker’s AI-powered ‘Seohakgaemi-Bot’ celebrates its one-year milestone of providing real-time financial news to Chosun Ilbo readers, reaching 11.2 million cumulative page views and publishing an average of 204 articles daily on US stock market developments.

    The AI system processes non-standardized SEC filings, overcoming language barriers and format variations that typically challenge non-English speaking investors. Through advanced machine reading and natural language processing, Waiker’s technology analyzes unstructured information in just 8 seconds, delivering immediate article distribution after SEC filings.

    Beyond serving readers, Seohakgaemi-Bot enhances newsroom efficiency by allowing reporters to focus on deeper investment analysis rather than basic information gathering. The system has consistently outpaced global media outlets like Bloomberg in breaking major stories, including Elon Musk’s Tesla share sale and SoftBank’s Coupang divestment.

    Waiker plans to expand its AI news service with broader stock market coverage and pursue global partnerships for AI-driven content projects.

  • Waiker AI Leads Global Reporting of Warren Buffett’s $352M Occidental Petroleum Investment

    Waiker AI Leads Global Reporting of Warren Buffett’s $352M Occidental Petroleum Investment

    Waiker’s ‘Seohakgaemi-Bot,’ in partnership with Chosun Ilbo, demonstrated its advanced reporting capabilities by breaking news of Berkshire Hathaway’s stake purchase in Occidental Petroleum on September 29, 2022, outpacing Reuters by 25 minutes.

    The AI system reported the $352 million transaction at 8:52 AM KST under the headline ‘Indirect Purchase of Occidental Petroleum Shares by a Stakeholding Corporation.’ Reuters followed at 9:16 AM KST, during which time Occidental Petroleum’s stock rose 3.2%.

    The transaction involved Berkshire Hathaway purchasing 5,985,190 common shares at an average price of $58.89 through a trust agreement from September 26-28, 2022. This followed the July 11 FERC approval allowing Berkshire to acquire up to a 50% stake in the company.

    This achievement builds on Seohakgaemi-Bot’s previous success in reporting Elon Musk’s Tesla stock sale in November 2021, showing improved performance with a 25-minute lead time compared to the previous 20-minute advantage.

  • Waiker Wins 2022 Korea Technology Patent Award for AI-Driven Financial Data Innovation

    Waiker Wins 2022 Korea Technology Patent Award for AI-Driven Financial Data Innovation

    Waiker, an AI-focused global stock market data startup, has received recognition at the 2022 Korea Technology Patent Awards from the Korea Intellectual Property Information Institute (KIPI) for its ‘Integrated Model and Apparatus Extracting Information from Documents Using Artificial Intelligence.’

    The prestigious award, which celebrates outstanding patent technologies in South Korea, acknowledged Waiker’s innovative approach to processing financial data. The company’s portfolio includes 15 technology patents covering natural language processing, machine comprehension, big data engineering, and data mining.

    Waiker has successfully built a database encompassing over 70,000 listed companies worldwide. The company’s AI technology addresses a critical market challenge: the non-standardized nature of US-listed company disclosures, which vary by company, disclosure type, and period. While traditional market leaders like Bloomberg still rely on manual processing, Waiker’s AI technology automates data collection and analysis, reducing errors and improving efficiency.

    The company provides customized services including real-time AI-generated articles and tailored newsletters. Their focus extends beyond basic market data to deliver an “exceptional data experience” through enhanced UX/UI, serving diverse clients including securities firms and asset management companies.

  • LSEG Refinitiv Partners with Waiker to Transform Global Financial Data Services

    LSEG Refinitiv Partners with Waiker to Transform Global Financial Data Services

    LSEG Refinitiv, a global financial data leader, has formed a strategic partnership with AI startup Waiker to revolutionize SaaS solutions in the global financial data market.

    Refinitiv, acquired by the London Stock Exchange Group for $27 billion in 2021, serves over 40,000 financial institutions with annual revenue of $6.25 billion. The company employs approximately 20,000 people worldwide, specializing in financial data processing and analysis.

    Waiker has distinguished itself by addressing long-standing UX/UI challenges in stock market data services, processing data for over 70,000 listed stocks across 12 nations. The partnership will focus on developing integrated services for global stock data digital transformation, SaaS solutions, and AI applications, leveraging LSEG Refinitiv’s extensive financial institutional network.

    “Waiker’s real-time stock market data processing technology and AI capabilities have proven their global potential,” said Kim Seok-jun, CEO of Refinitiv Korea. “We anticipate co-innovation in the data industry, which is fundamental to finance.”

    Elvin Hwang, Waiker’s CEO, emphasized the partnership’s significance: “We will leverage Refinitiv’s 170-year history, global network of 40,000 financial institutions, and comprehensive data resources to accelerate our global expansion and drive mutual growth.”

  • Waiker CEO Elvin Hwang Delivers Keynote on AI-Powered Financial Data Engineering at IGIC

    Waiker CEO Elvin Hwang Delivers Keynote on AI-Powered Financial Data Engineering at IGIC

    Elvin Hwang, CEO of Waiker, presented a keynote speech on “Financial Data Engineering employing Waiker’s AI Technology” at the India Global Innovation Connect (IGIC) in Bengaluru on June 3rd. IGIC, hosted in India’s Silicon Valley, is an annual event led by Claude Smadja, CEO of Smadja & Smadja and former Managing Director of the World Economic Forum in Davos.

    The conference featured prominent speakers including Infosys founder Narayana Murthy, Ava Labs CEO Emin Gün Sirer, and Revolut India CEO Paroma Chatterjee, with participating companies from South Korea, the United States, India, Japan, Germany, Israel, Switzerland, and Singapore.

    Waiker’s AI technology processes global stock market data across 12 countries through natural language processing (NLP) and machine reading comprehension. The company dataifies stock market filings and converts them into context using generative AI technologies. Their breakthrough came on November 11, 2021, when they became the first to report Elon Musk’s Tesla stake sale through AI solutions, leading to their selection as keynote speaker for the fintech session.

    In his keynote, Hwang emphasized that “Technological innovation in the industrial sector can be a driving force for economic growth and act as a deflationary factor, enhancing added value growth amidst the pressures of inflation and economic slowdown due to deglobalization trends. AI technology can enhance productivity in both physical and knowledge labor, especially maximizing potential added value in field of data utilization.”

    He noted, “As financial market participants are humans, opportunities amid economic expansion and contraction, irrational overheating, and fear continue to persist.” Hwang highlighted India’s market potential, citing the Bombay Stock Exchange’s milestone of 100 million accounts and quarterly addition of 10 million new securities accounts. India has surpassed South Korea and Germany to become the world’s seventh-largest stock market.

    Regarding technological capabilities, Hwang revealed that Waiker processes data for over 70,000 securities across more than 12 countries, leveraging 15 related technology patents. The company aims to lead innovation through enhanced data coverage, precision, and processing speed via global partnerships.

    India’s economic outlook remains strong, with 9.2% GDP growth in 2021-2022 and a projected 7.5% growth in 2023, according to Business Standard, despite global inflation and economic challenges. Goldman Sachs anticipates substantial capital influx into the Indian stock market, projecting growth to $5 trillion within three years, potentially making it the fifth-largest global stock market, surpassing the UK.