WILMINGTON, Del., September 8, 2021 / PRNewswire / – Turing Technology is pleased to announce that it has been named to the AIFinTech100 – a selected global list reflecting “the world’s most innovative solution providers” who “use artificial intelligence (AI) to transform financial services ”.
According to Global FinTech100 press release (https://member.fintech.global/2021/09/07/first-annual-global-aifintech100-list-highlights-the-must-know-names-in-ai/) , these “remarkable companies were chosen by a panel of industry experts and analysts” and the “final list solution providers were recognized for their innovative use of technology to solve a significant problem of industry ”. In Turing’s case, the major industry problem is the continued failure of traditional active managers to outperform passive or index investments.
According to Alexey Panchekha, Co-Founder and Chairman of Turing, “Turing aims to address the issue of active management’s long history of underperformance for a decade. Our technology is not designed to improve results marginally, but to redefine expectations and results. He added, “When AI and cutting edge technology work best, they transform industries. Look what Uber has done to the taxi industry, Netflix has done to cable TV and entertainment, and Amazon has done to retail shopping. This is exactly what we expect. Together Active Management (“EAM”) will make active management. ”
Over the past three years, and based on Turing’s enabling technology, the “EAM industry” has grown to 75 EAM portfolios in live production, with 22 companies having built and launched at least one EAM wallet. These businesses range from trillion dollar investment complexes to wealth management companies.
Vadim Fishman, Co-Founder and CEO of Turing, said, “It is an honor to be recognized among our AI and technology peers for the quality of our technology, our innovation and our ability to impact such a critical mandate. There are tens of millions of investors who rely on active investments, with more than 10,000 billion dollars in portfolios managed by professionals. And the evidence is clear that, on average, these investors were disappointed. He added, “We are very proud to partner with our customers, large and small, to change the narrative. ”
About Turing Technology (www.turingta.com):
Turing Technology is a technology and intellectual property company founded in 2016 by two world-class applied mathematicians with a long history of innovation and entrepreneurship. Business capabilities emerge from the intersection of math, machine learning, and innovation. A major component of Turing’s industry-changing technologies is its Hercules SystemTM, a unique technology that generates real-time daily holdings and portfolio weights from nearly 2,000 mutual funds. actively managed. Turing licenses its AI-based technology platform to investment and wealth management firms to create, test, produce and monitor bespoke investment portfolios.
Turing is not a management or investment advisory company. It is a technology company that licenses its technology and intellectual property to investment management, insurance, brokerage, RIA and wealth management companies.
Press contact: Barry schwartz; 212-677-8700 x118, [email protected]
SOURCE Turing Technology