Elvin Hwang, CEO of Waiker, presented a keynote speech on “Financial Data Engineering employing Waiker’s AI Technology” at the India Global Innovation Connect (IGIC) in Bengaluru on June 3rd. IGIC, hosted in India’s Silicon Valley, is an annual event led by Claude Smadja, CEO of Smadja & Smadja and former Managing Director of the World Economic Forum in Davos.

The conference featured prominent speakers including Infosys founder Narayana Murthy, Ava Labs CEO Emin Gün Sirer, and Revolut India CEO Paroma Chatterjee, with participating companies from South Korea, the United States, India, Japan, Germany, Israel, Switzerland, and Singapore.

Waiker’s AI technology processes global stock market data across 12 countries through natural language processing (NLP) and machine reading comprehension. The company dataifies stock market filings and converts them into context using generative AI technologies. Their breakthrough came on November 11, 2021, when they became the first to report Elon Musk’s Tesla stake sale through AI solutions, leading to their selection as keynote speaker for the fintech session.

In his keynote, Hwang emphasized that “Technological innovation in the industrial sector can be a driving force for economic growth and act as a deflationary factor, enhancing added value growth amidst the pressures of inflation and economic slowdown due to deglobalization trends. AI technology can enhance productivity in both physical and knowledge labor, especially maximizing potential added value in field of data utilization.”

He noted, “As financial market participants are humans, opportunities amid economic expansion and contraction, irrational overheating, and fear continue to persist.” Hwang highlighted India’s market potential, citing the Bombay Stock Exchange’s milestone of 100 million accounts and quarterly addition of 10 million new securities accounts. India has surpassed South Korea and Germany to become the world’s seventh-largest stock market.

Regarding technological capabilities, Hwang revealed that Waiker processes data for over 70,000 securities across more than 12 countries, leveraging 15 related technology patents. The company aims to lead innovation through enhanced data coverage, precision, and processing speed via global partnerships.

India’s economic outlook remains strong, with 9.2% GDP growth in 2021-2022 and a projected 7.5% growth in 2023, according to Business Standard, despite global inflation and economic challenges. Goldman Sachs anticipates substantial capital influx into the Indian stock market, projecting growth to $5 trillion within three years, potentially making it the fifth-largest global stock market, surpassing the UK.