Credit Suisse has collaborated with fintech firm RavenPack to launch a sentiment index that will be driven by artificial intelligence (AI) technology.
The index, dubbed Credit Suisse RavenPack Artificial Intelligence Sentiment (AIS) Index, will track the notional performance of an algorithmic US large-cap sector-rotation strategy, implementing 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.
This is the Swiss bank’s first quantitative investment strategy resulting from its partnertship with RavenPack.
Credit Suisse head of equity derivative sales for the Americas Elaine Sam said: “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.”
RavenPack president and CEO Armando Gonzalez said: “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.”