AI takes seat on investment company’s board of directors
A press release from Aging Analytics UK, a company that conducts research on biotechnology and regenerative medicine, made two announcements this morning: first, that they’ve launched an new AI tool called VITAL (Validating Investment Tool for Advancing Life Sciences); and second, that they’ve licensed VITAL to Hong Kong V.C. firm Deep Knowledge Ventures, where the tool will become an “equal member of its Board of Directors.”
VITAL uses machine learning to predict which life science companies will make for successful investments, the press release explains.
A lot of stock trading is already done by algorithms so an AI helping to make investments is not something new. However, it looks like VITAL does more than crunching financial data, as stated on the company’s web site:
Our company uses innovative analytic tools to connect huge amounts of complex data on diseases, treatments, costs and outcomes.
Relying on a large pool of information, as well as on insights from billions of financial transactions pertaining to biotechnology and regenerative medicine, Aging Analytics’ databases drive results for hundreds of clients globally.
It tracks every bit of available data on these companies, including their financials, personnel, and coverage in the media. Our company also covers all venture investments in biotechnology and regenerative medicine over the last 30 years for which the information is available.
Sources: Aging Analytics, Beta Beat and Engadget