Edward Oliver, VP of FinanceIt is 3:53 p.m. EST. Tesla’s stock is trading at $13.18 when Dataminr clients receive breaking news of Tesla’s collaboration with Advanced Micro Devices to manufacture artificial intelligence-enabled microchips for self-driving cars. Flagging this information for clients before it flashed on all the major TV news channels, Dataminr’s notification immediately put its users on alert. By 4:15 p.m., the stock rallied by 4.2 percent and rose another 6 percent as additional information started flowing in. After Dataminr’s early alert, Tesla’s stock jumped over 10 percent in just a single day.
“The capital markets are not only sensitive to demand and supply but breaking events as well,” says Edward Oliver, VP of Finance Sector Sales at Dataminr. “Our AI-based platform equips clients with a contextual and comprehensive view about what is happening during a particular event, time, and location to help them make insightful and faster decisions.”
Despite having access to traditional sources of information, such as television news networks and newspapers, capital market professionals are often challenged with a dearth of real-time information about high-impact events as they occur. They invest a significant portion of their time to digest breaking information, increasingly now sourced from alternative data— which represents information outside the realms of capital market data such as price and volume—to obtain critical insights for their investment processes. Competitively, Dataminr stands apart from traditional news sources with its capability to detect market-impacting events in real-time often before major news, for actionable insights.
Oliver says, “The growth of the digital enterprise provides great opportunity for CIOs, but it also brings new challenges, such as integrating tools and frameworks that increase efficiency and awareness into the existing workflow. We meet these challenges for our clients with Dataminr Alerts that can be fully customized and integrated, supporting enterprise growth and ultimately enhancing the way an organization incorporates real-time information in their operations.” He believes that there is significant potential to harness real-time information from global audiences through social media channels.
Our platform equips clients with a contextual and comprehensive view about what is happening during a particular event, time, and location to help them make insightful and faster decisions
Spurred by the rise of smartphones, which gives anyone with a handheld device the ability to quickly disseminate information to a global audience, Dataminr has designed a platform built with AI and machine learning technologies that captures information from alternative, public data sources, including social media, blogs, and other web-based sources. In addition to real-time alerting, Dataminr helps its users comprehend the significance of high-impact events such as new corporate strategies, government policies, and regulatory changes by analyzing patterns in complex data and putting structure to disparate pieces of information across topics, languages, and geographies. For instance, the platform can detect live events based on a variety of criteria, including volume of tweets, clustering and other patterns. The platform then provides additional metadata like urgency levels, source categories, and more.
Built to detect, classify, and determine the importance of information about events in real time, the platform harmonizes unstructured data by eliminating the noise. At the core of the platform, the engine’s algorithms identify, filter and tailor information according to users’ specific areas of business, including sectors, asset classes, and locations.
Oliver says, “We’ll continue to look at how we leverage real-time public data to discover breaking events across the world, ensuring our clients are the first to know about critical information, wherever and whenever it breaks.”