Accern was featured on “Fortune’s article, Can an A.I. hedge fund beat the market?” for assisting Next Alpha in becoming one of the best-performing hedge funds.
Financial firms have invested heavily in artificial intelligence and machine learning in the past decade. Next Alpha, backed by, John “Kanen” Flowers, started out as a small hedge fund. Flowers had always been fascinated by Natural Language Processing (NLP) and decided to move to New York to pursue his interests in NLP and the stock market.
Historically, analysts within hedge funds spend days, sometimes even months, manually researching, extracting, and analyzing news. The scale at which news is generated today has made it nearly impossible for financial analysts to accurately obtain the right data points at the right time. The rise of artificial intelligence tools to mine data from unstructured data sets such as news reports, social media posts, online reviews, blog posts, and more, and perform sentiment analysis has gained traction within the financial industry.
Next Alpha was able to successfully analyze the sentiment of data due to the amount of data the hedge fund ingested made possible by automation and Natural Language Processing. With the help of Accern’s no-code AI platform, Next Alpha was able to generate 40% returns during a period in which the S&P 500 lost 4.9%.
Read our case study to find out how Next Alpha used Accern’s artificial intelligence platform to ingest large amounts of data, automate the data research and extraction process, and analyze the data with NLP to validate its models and uncover accurate investment insights.
Accern enhances AI workflows for financial service enterprises with a no-code data science platform. Researchers, business analysts, data science teams, and portfolio managers use Accern to build and deploy Natural Language Processing (NLP) models with artificial intelligence (AI). The results are that companies cut costs, generate better risk and investment insights, and experience a 24x productivity gain with our industry-leading NLP solutions. Allianz, IBM, and Jefferies utilize Accern to build and deploy AI solutions powered by our adaptive NLP and forecasting features. For more information on how we can accelerate AI adoption for your organization, visit accern.com