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Tag: waiker

  • 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.

  • Waiker AI’s ‘Seohakgaemi-bot’ Breaks SoftBank’s Coupang Stock Sale 48 Hours Ahead of Major Media

    Waiker AI’s ‘Seohakgaemi-bot’ Breaks SoftBank’s Coupang Stock Sale 48 Hours Ahead of Major Media

    Waiker’s AI-powered global stock market reporter, ‘Seohakgaemi-Bot,’ provided through Chosun Ilbo, made history on March 12, 2022, by being the first to report a significant stake sale by SvF Investments UK Ltd, a corporation owning more than 10% of e-commerce company Coupang.

    SoftBank, experiencing its worst-ever losses, has drawn global investor attention due to its aggressive cash-raising measures through stock sales. The Vision Fund has recently reduced its investment capacity as its investment returns deteriorated last year.

    Waiker AI reported the disclosure on March 12 at 7:03 AM KST, while South Korean media outlet Maeil Business Newspaper reported it on March 14 at 5:56 PM KST, and Bloomberg followed at 1:29 PM KST on March 14. This gave Waiker AI a 48-hour lead time on the news, during which Coupang’s stock price dropped by 8.02%.

    ‘Seohakgaemi-Bot,’ a collaboration between AI global stock market data startup Waiker and Chosun Ilbo, automatically collects and analyzes data from various disclosures, including earnings announcements and changes in beneficial ownership. This process is entirely automated by AI and delivered in real-time.

    The disclosure revealed that on March 9, 2022, the UK SoftBank Vision Fund indirectly sold $1.044 billion worth of Class A common shares—50 million shares at $20.87 per share—through a trust agreement. Following this transaction, the UK SoftBank Vision Fund maintains ownership of 461,564,413 Class A common shares of Coupang.

  • Waiker AI Beats Global Media in Reporting Elon Musk’s Tesla Share Sale

    Waiker AI Beats Global Media in Reporting Elon Musk’s Tesla Share Sale

    Waiker’s AI-powered ‘Seohakgaemi-Bot,’ in partnership with Chosun Ilbo, made history on November 11, 2021, by being the first to report Elon Musk’s Tesla share sale, beating Bloomberg by 20 minutes.

    The AI bot published the headline “Elon Musk Sells $4.6022T KRW Worth of Tesla Stocks through Trust Agreement” at 8:25 AM KST. During the 20-minute lead time before Bloomberg’s report, Tesla’s stock price declined approximately 2.5%.

    The sale followed Musk’s Twitter poll asking whether he should sell 10% of his Tesla holdings, which received majority support from voters. After the transaction, Musk’s holdings decreased to approximately 1,220,481 common shares, representing about 0.12% of Tesla’s total stake, excluding stock options.

    Seohakgaemi-Bot, developed through Waiker’s collaboration with Chosun Ilbo, processes U.S. stock market information specifically for South Korean investors. The AI system analyzes SEC filings and converts them into news articles within 8 seconds, overcoming the challenge of non-standardized U.S. company filings through advanced natural language processing technology.

    This breakthrough reporting has drawn significant attention from both domestic and international media outlets, as well as the financial industry, validating Waiker’s AI technology for its speed and accuracy in financial news reporting.

  • Waiker partners with Chosun Ilbo to deliver real-time US stock market insights to readers

    Waiker partners with Chosun Ilbo to deliver real-time US stock market insights to readers

    Waiker, a South Korean startup specializing in AI-driven financial news solutions, is now supplying an AI journalist solution to Chosun Ilbo, the largest media company in South Korea, focusing on various disclosures of US companies.

    The newspaper company has collaborated with a startup for the first time since its establishment in 1920, launching ‘Seohakgaemi-Bot’. This name references Korean mom-and-pop investors who actively invest in the US stock market. Through this collaboration, users of both Waiker and Chosun Ilbo now have immediate access to AI-powered global stock market content that enables more informed, smart, and timely decisions.

    Acquiring US stock information has been challenging for Korean investors for several reasons. First, English-language documents present significant barriers to Korean investors interpreting necessary content. Additionally, US listed companies’ disclosures lack standardization, unlike Korean listed companies, making interpretation difficult due to varying document structures.

    Waiker addresses these challenges by extracting and summarizing key information from disclosures using AI natural language processing and machine comprehension technology. This entire process takes an average of just 8 seconds, crucial in the fast-paced stock market where time and information equate to money.

    Chosun Ilbo will receive various types of articles from Waiker, including quarterly earnings releases, changes in beneficial ownership, real-time price fluctuations, real-time 52-week high/low stocks, major ETFs, portfolio of investment gurus, daily market briefs, top stocks purchased by Koreans, and more.

    The value of Waiker’s product is evident in the context of US stock market capitalization. The US market, with approximately $52.26 trillion in market capitalization, accounts for about 62% of global market capitalization—roughly 22 times larger than the Korean stock market’s $2.42 trillion. The world’s top companies by market capitalization are dominated by US companies, with GAFAM (Google, Apple, Facebook, Amazon, Microsoft) all exceeding $1 trillion and occupying ranks 1 to 6. Samsung Electronics, Korea’s highest-valued company, ranks 14th globally at approximately $442 billion.

    The US stock market attracts both corporate and individual investors due to its high liquidity. Investing in US stocks provides the added benefit of holding dollar-denominated assets, naturally enhancing investor asset value. Since January 1, 2019, the S&P 500 index has risen by 90.1%, while the KOSPI index has increased by 46.61%, highlighting the US market’s substantial growth potential.

    Through Chosun Ilbo’s Seohakgaemi-Bot, Waiker now provides readers with the world’s fastest and most accurate market data and information. The company plans to expand its stock market coverage and accelerate the supply of domestic and international stock market data and content to financial institutions, media companies, and other customers seeking such information.

  • Waiker is nominated as ‘Startup of Excellence’ by Google Korea

    Waiker is nominated as ‘Startup of Excellence’ by Google Korea

    Waiker, an AI global stock market data SaaS startup based in South Korea has been acknowledged as the ‘2021 Startup of Excellence’ by Google Korea.

    Each year, Google Korea identifies domestic startups to actively promote growth and support resilience towards the global market. Those selected are privileged to receive a myriad of support from Google Korea. Including various consultations, seminars, assistance in product development, as well as diverse support for entering international markets.

    In the sector of global stock market data, legacy companies such as Bloomberg, Capital IQ, FactSet have been criticized for their notably declining usability and antiquated interfaces. While their primary strength lies in providing users with a vast amount of data, some data is manually entered, leading to a compromise in data accuracy.

    Waiker leverages Artificial Intelligence (AI) and Natural Language Processing (NLP) technologies to automatically build its own database of global stock market data through machine reading comprehension, specialized in unstructured stock market data. Additionally, Waiker employs text-generative AI technology to provide customized services to each client.

    As AI constructs the data, customers can quickly verify accurate data and information. Enhancing work efficiency in various aspects for its clients, from acquiring investment information to grasping investment insights and market trends. Furthermore, Waiker is committed to provide an innovative data experience to its customers by improving the usability of its services through its exponenetial UX/UI, fully aimed for the success of its client.

    Since the second half of 2021, Waiker has been providing the an AI-powered U.S. stock market reporter service, named “Seohakgaemi-Bot” to one of the biggest newspaper companies in Korea, Chosun Ilbo. The term refers to individual retail investors or mom-and-pop investors in Korea who actively participate in the foreign stock market. Direct translation of the term would mean Western Ants.

    The solution can extract crucial information from disclosure documents filed with the U.S. Securities and Exchange Commission (SEC) and convert them into news articles in just 8 seconds. Additionally, Waiker automatically collects and constructs its database from complex disclosures and translates them into the mentioned languages for their customers preference.

    Unlike disclosures of listed companies in Korea, interpretation of SEC disclosures is difficult to interpret as it is not standardized. Resulting hardships on timeliness for investors to acquire information and data needed for their investments.

    In the time-sensitive stock market where time is considered money, Seohakgaemi-Bot has reported numerous cases of disclosures such as changes of beneficial ownership and earnings results ahead of any other media outlets around the globe.

    Specifically in November 2021, it was the first to report the news of Tesla CEO Elon Musk’s massive stake sale to the world. Elon Musk conducted a poll through his personal social media, gaining the biggest attention for investors worldwide. However, Waiker’s AI technology was 20 minutes faster than Bloomberg, which was the first media to report the same issue in the United States. Thus, stock price of Tesla has dropped by 2.5% during the 20 minutes.