QARA established a mutual partnership with Gartner last year, a member of the S&P 500 and leading global research and advisory firm in the U.S.
With the advent of rising digital transformation in banking and investment services, Gartner found critical insights that helped QARA take initiatives on multiple projects related to Artificial Intelligence.
To reflect back, read our previous article on Change, Progress, Shifting Focus.
To summarize briefly, Gartner found that for financial services, AI is considered a “game-changing” technology. Gartner collected insights from 3,102 Chief Information Officers (CIOs) from 89 countries across major industries and found that “Digital” is a priority for many businesses and “AI” is a must-have for making innovative products and services.
With the insights provided by Gartner, QARA was able to move forward and release two products: KOSHO 2.0 and Whatisfund.ai beta.
To read about KOSHO’s official release, click here.
To read about Whatisfund’s beta release, click here.
This year, Gartner named QARA as a cool vendor in its annual 2019 Cool Vendors Report.
Key findings from the report suggest that Financial Services Institutions (FSIs) in the Asia/Pacific (APAC) region will need to partner with innovative AI fintech firms to optimize businesses and improve competition. Gartner identifies a firm as “cool” if it meets three criteria: innovation, impactfulness, and intrigue.
Gartner’s Senior Director Analyst Adrian Lee reports that QARA’s robo-advisory app KOSHO has the potential to engage with the unbanked and offer cost-effective solutions to better manage people’s finances.
“The World Bank Group estimates that robo-advisors will manage up to 10% of all global investment assets by 2020,” notes Adrian Lee, Senior Director Analyst at Gartner. “Data and analytics leaders of investment banks, asset management firms and credit rating firms will benefit from QARA’s enterprise product to reduce operational costs of terminals and maximize the potential from event-based analysis.”
KOSHO is one of the few AI deep learning enabled robo-advisors in Asia. Through QARA’s in-house “Market Dreamer” technology, KOSHO analyzes the past 30 years of market history and uses the latest Convolutional Neural Network (CNN) and Recurrent Neural Network (RNN) technologies to track financial market performances. Market Dreamer’s datasets include 30,000 global stocks, 38 major financial indices, and 24 cryptocurrencies.
Since KOSHO’s official release on March 21, 2019, KOSHO has gained over 130,000 downloads with impressive ratings of 4.6 and 4.4 on the App Store and Google Play Store respectively. KOSHO is also available in 5 different languages and has launched in 11 countries worldwide, including South Korea, USA, Singapore, UK, and Japan.
To Download KOSHO, click here.
With more innovative projects and partnerships ahead of us, QARA is looking forward to a brighter future. If you want to know more about who we are, check out some of the articles mentioned below:
