Waiker, an AI global stock market data SaaS startup based in South Korea has been acknowledged as the ‘2021 Startup of Excellence’ by Google Korea.
Each year, Google Korea identifies domestic startups to actively promote growth and support resilience towards the global market. Those selected are privileged to receive a myriad of support from Google Korea. Including various consultations, seminars, assistance in product development, as well as diverse support for entering international markets.
In the sector of global stock market data, legacy companies such as Bloomberg, Capital IQ, FactSet have been criticized for their notably declining usability and antiquated interfaces. While their primary strength lies in providing users with a vast amount of data, some data is manually entered, leading to a compromise in data accuracy.
Waiker leverages Artificial Intelligence (AI) and Natural Language Processing (NLP) technologies to automatically build its own database of global stock market data through machine reading comprehension, specialized in unstructured stock market data. Additionally, Waiker employs text-generative AI technology to provide customized services to each client.
As AI constructs the data, customers can quickly verify accurate data and information. Enhancing work efficiency in various aspects for its clients, from acquiring investment information to grasping investment insights and market trends. Furthermore, Waiker is committed to provide an innovative data experience to its customers by improving the usability of its services through its exponenetial UX/UI, fully aimed for the success of its client.
Since the second half of 2021, Waiker has been providing the an AI-powered U.S. stock market reporter service, named "Seohakgaemi-Bot" to one of the biggest newspaper companies in Korea, Chosun Ilbo. The term refers to individual retail investors or mom-and-pop investors in Korea who actively participate in the foreign stock market. Direct translation of the term would mean Western Ants.
The solution can extract crucial information from disclosure documents filed with the U.S. Securities and Exchange Commission (SEC) and convert them into news articles in just 8 seconds. Additionally, Waiker automatically collects and constructs its database from complex disclosures and translates them into the mentioned languages for their customers preference.
Unlike disclosures of listed companies in Korea, interpretation of SEC disclosures is difficult to interpret as it is not standardized. Resulting hardships on timeliness for investors to acquire information and data needed for their investments.
In the time-sensitive stock market where time is considered money, Seohakgaemi-Bot has reported numerous cases of disclosures such as changes of beneficial ownership and earnings results ahead of any other media outlets around the globe.
Specifically in November 2021, it was the first to report the news of Tesla CEO Elon Musk's massive stake sale to the world. Elon Musk conducted a poll through his personal social media, gaining the biggest attention for investors worldwide. However, Waiker's AI technology was 20 minutes faster than Bloomberg, which was the first media to report the same issue in the United States. Thus, stock price of Tesla has dropped by 2.5% during the 20 minutes.