NEW YORK, April 1, 2016 /PRNewswire/ -- ansarada, a global provider of virtual data rooms designed to simplify the mergers and acquisitions process, has introduced DataM&Ask, a hardware add-on to its cloud-based product line that allows dealmakers to continue their workday even after they've fallen asleep. In collaboration with the world's leading sleep scientists, ansarada's data experts have developed technology that can analyze daytime brainwave activity, and mimic those functions during REM sleep cycles.
According to recent news articles, the world's largest investments banks have been attempting to address, albeit unsuccessfully, the issue of lost productivity due to the stress of 100-hour work weeks among their younger bankers. Independent research conducted by ansarada found that investment bankers get an average of 2.3 hours of sleep per night (see chart below).
"Often, analysts are performing repetitive tasks for more than 20 hours a day, leaving them tired and prone to error," said Larry Fontillas, Managing Director of the Americas at ansarada. "With this new technology, analysts can go from sleeping little more than three hours a night, to getting a full-night's sleep, guilt-free. We expect those extra five or six hours of shut-eye to boost productivity tremendously during the day as well as vastly reduce stress levels among the ranks of investment bankers."
The easy-to-use, wireless electroencephalogram (EEG) hardware is worn like a cap during the day for one week, during which time the user's repetitive patterns are recognized. Then, the user can begin wearing the headband overnight and the technology does the rest. Once the brain enters REM sleep, the user's brainwaves are analyzed and the functions extracted from the subconscious are converted into actions performed within the data room. Users can then check the data room in the morning to see how much work they were able to perform while asleep.
"I was skeptical at first," said junior analyst Nye Teenyte of Bank of Malawi, "but when I woke, not only did I feel as fresh as a fish, I'd answered 300 bidder questions."
"During the REM sleep cycle, the brain is exercising many of the normal thoughts and activities that are performed during the day," says Dr. Droughzy Snuzmor, an expert with the Narcolepsy Awareness & Preparedness Project (NAPP) who was a lead researcher in developing this product. "Awake, or not, the brain is always functioning, and this technology will ensure that brain function will never have to be wasted again."
When asked what he thought about the technology, Rich Mann, Managing Director of international investment bank Silverman Baggs, said, "My analysts are sleeping?! They are SO fired!"
ansarada believes that this technology has the power to change M&A and investment banking as it is known today. "This is just the first of many steps we are taking to make the process of an M&A deal a much simpler task for everyone involved," said Matthew Brown, Chief Product Officer of ansarada.
Brown added that ansarada has obtained a patent on this technology, with the hopes it can be licensed for use in other industries involving long hours and repetitive tasks, such as security guards, truck drivers, air traffic controllers and Presidential hopefuls.
"Sleep-working is likely to become the wave of the future," said Brown.
Editor's Note: DataM&Ask is not a real product, and sleep-working is not a real thing, but ansarada is a real company – and we do make life easier for everyone involved in M&A. Happy April Fool's Day!
ansarada is a pioneering global provider of virtual data rooms (VDRs) which are the only VDRs in the world designed exclusively for mergers and acquisitions (M&A). ansarada is on a mission to revolutionize the world of M&A and is driven by making life easier for everyone involved. ansarada has built its data rooms using proprietary technology and is committed to the highest levels of service, simplicity and security, and to ensuring successful outcomes for clients. The company was established in 2005 and is based in Sydney, Australia, with offices in London, Singapore, Hong Kong, Shanghai, Amsterdam, Frankfurt, Johannesburg and Moscow. Its U.S. headquarters are in Chicago, with satellite offices in New York and San Francisco.
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