Can artificial intelligence guide stock picks?
Source: Deirdre Fernandes
If you’ve watched the television series 24 on Netflix, the online streaming service will recommend that you catch up on Homeland, too. Now, a Boston-based technology firm is hoping to bring that same intuitive technology to financial services.
Start-up indico Data Solutions Inc. announced Friday that it is collaborating with John Hancock Financial and the Boston insurer’s Canadian parent Manulife Financial Corp. to help financial analysts and portfolio managers cull through thousands of pieces of data and find the most important information. Based on that data, managers at Manulife and John Hancock will be able to make quicker decisions on whether to invest in certain companies and industries or sell their shares.
Think of it as Google on steroids. Manulife officials hope it will give the company an edge over its competitors in the age of data overload.
“As the amount of the data increases, the ability of processing the data becomes a problem,” said Jessie Bean, a vice president and head of innovation at John Hancock.
Both John Hancock and indico declined to comment on the terms of the deal.
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