NEW YORK, Oct. 26, 2017 /PRNewswire/ -- Credit Suisse announced today the launch of the Credit Suisse RavenPack Artificial Intelligence Sentiment (AIS) Index, a result of its collaboration with RavenPack to create quantitative investment strategies from news analyses leveraging RavenPack's artificial intelligence algorithms.
The AIS Index tracks the notional performance of an algorithmic US large-cap sector-rotation strategy, harnessing the power of big data analytics to make sector allocation decisions in a tradable and systematic way. The strategy is based on sentiment scoring extracted from news data by RavenPack's artificial intelligence algorithms, and it represents Credit Suisse's entry into the growing field of big data-driven investment analysis. It is the bank's first quantitative investment strategy resulting from its collaboration with RavenPack.
"We are excited to be working with RavenPack to provide a quantitative approach to information gathering. The Index offers an innovative means to obtain exposure to asset allocations that are systematically selected by sophisticated data-driven analysis," says Elaine Sam, Head of Equity Derivative Sales for the Americas.
"Big data and artificial intelligence present a huge opportunity for the financial services industry, and this milestone collaboration with Credit Suisse shows the increased value our news analytics can provide to equity investors," says Armando Gonzalez, President and CEO, RavenPack.
RavenPack is a leading big data analytics provider in financial services. The company's products and extensive database allows financial professionals to analyze large amounts of unstructured content and incorporate effects of public information in their models and workflows. RavenPack's clients include some of the largest hedge funds, banks, and asset management firms around the globe.
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,230 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
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SOURCE Credit Suisse AG