AlphaSense addresses the challenges that enterprises face in working with unstructured and fragmented data, delivering a disruptive, next-generation search solution powered by flexible AI-based NLP architecture.
By enabling customers to drive business efficiencies by unlocking insights buried in qualitative language, AlphaSense’s AI-powered search technology platform has earned Frost & Sullivan’s 2019 Technology Innovation Leadership Award. This award recognizes companies that transform the way businesses perform daily activities and set new and long-lasting trends in how technologies are deployed. Through its flexible AI-based NLP architecture, AlphaSense provides a truly transformative solution for corporations and financial firms, including comprehensive data-driven analysis, sentiment scorecards, and algorithmic analysis of market landscapes.
Most enterprises are dealing with the challenge of extracting, classifying, and analyzing data from ever-growing volumes of documents, text, files, transcripts, and contracts. In the most complex enterprise systems, such as within the finance, banking, research, healthcare, technology and professional services sectors, these are the most valuable assets regarding informed decision making. As per Workplace Productivity and Knowledge Management Survey, 2019, 57% of employees state that the difficulty of finding the right information is a top contributor to lagging productivity in the office. New entrants have aspired to address this unmet need with software-driven solutions, but they lack the depth needed to identify nuanced business and industry-specific language as well as the sentimental tone within a statement or document, impacting the search process and hampering critical decision-making. Conventional search tools are not capable of optimizing and indexing data for driving business intelligence.
In contrast, AlphaSense has designed its AI-based NLP platform to support high-scale document classification and to process large amounts of unstructured data. The platform searches not only the exact search term supplied by the user, but also synonyms tied to the business or financial subject matter. This enables comprehensive, meaningful search results and actionable outcomes, ranging from investment decisions to navigating complex regulations to due diligence. Compared to competitors, the major differentiating factor for AlphaSense is its scalable architecture which trains its algorithm with billions of data points to provide users with the most relevant and accurate results instantly. The fine-grained tuning ability of its algorithms to search by proximity enables 10 times more noise reduction, enhancing result accuracy. Its core search capabilities include a machine-learning powered sentiment analysis model that parses earnings transcripts for subtle shifts in tone which can be a proxy for stock movement. Its sophisticated sentiment model, purpose-built to analyze financial services data, delivers 90% accuracy and vastly surpassing alternatives.
The company serves more than 1,000 enterprise customers, including 66% of the 50 largest investment firms and 50% of the Standard & Poor’s (S&P) 100 corporations. For instance, Cardinal Health saved approximately 15 hours per month through the implementation of AlphaSense’s AI-powered NLP platform on average. This enabled its team to focus its time on strategy and business intelligence.
Frost & Sullivan is impressed that the AlphaSense platform delivers a relevance score of 5 to 10 times more meaningful search results than competing offerings and provides accurate sentiment analysis for the data output. AlphaSense’s human-like reasoning AI platform and sentiment-measuring technology allows companies to search, view, and sort their results—which cover tens of thousands of high-value content and data sources—thereby enhancing business intelligence.
With its AI-powered search engine, AlphaSense is transforming the enterprise search market by enabling corporations and financial firms to conduct business intelligence and make data-driven decisions with unparalleled accuracy and efficiency. Frost & Sullivan commends AlphaSense’s continued commitment to support customers in their efforts to address ever-changing business requirements, smoothly scale their systems to support high-scale document classification, and replicate them on-demand—all in a cost-efficient manner.