infoSentience with Steven Wasick | E293

Automating market analytics and communication.

Jason talks to Steven Wasick, Founder of infoSentience, an automation company specializing in using artificial intelligence to enhance data analytics and communication in financial markets. infoSentience’s software can analyze any data set, identify key insights, and communicate them effectively, similar to a human analyst or journalist. This episode explores the innovative technology and applications that infoSentience brings to the world of finance.

Episode Highlights 

  • 01:16: infoSentience’s key product extends beyond finance and into the sports industry. They provide fantasy sports reports for CBS Sports and cover sports leagues like the NBA and NFL.

  • 02:02: Steve's decision to start infoSentience came after realizing the broader potential of the system he was developing. This realization led him to take a chance and launch the company right after he graduated from law school, back in 2012.

  • 03:16: infoSentience’s data analysis and communication system are highly flexible and can take data from various sources. They pride themselves on their ability to handle diverse data sources and formats.

  • 05:28: infoSentience’s system doesn't rely on templates or chatbot-like responses. Instead, it uses what they call "conceptual automata," a process that organizes data into a structured system of interconnected concepts. 

  • 06:54: infoSentience’s approach leverages the power of conceptual understanding to efficiently process and communicate complex information, making it valuable not only in the sports industry but also in various other domains.

  • 08:02: Unlike template-based approaches where you simply fill predefined slots, infoSentience’s system accounts for the complexity of relationships between concepts. It doesn't rely on predefined structures, making it more adaptable and capable of handling intricate narratives.

  • 08:41: The system's flexibility allows it to identify and include the most interesting and relevant information in the article. However, this flexibility requires intelligence to ensure that the information is presented in a coherent and logical manner for the reader.

  • 09:24: Jason Pereira, brings up the issue of superfluous information in content, likening it to reading lengthy descriptions in books like "Lord of the Rings."

  • 10:57: infoSentience’s system is fully traceable and lacks a "black box" component. If an undesirable sentence or story is generated, they can precisely determine why it happened because of the transparent rules-based structure.

  • 12:19: Steve mentions the Chicago Mercantile Exchange as one of their major clients in the finance space. They recently signed a significant deal to create a fully automated website using commodity data, including headlines, pictures, graphs, and charts.

  • 14:51: Steve highlights the challenges of data comparison, such as determining what metrics are being compared against (e.g., yesterday, last month, year over year). These nuances can vary significantly between industries and clients.

  • 17:02: Steve discusses the different metrics and improvements that various clients have seen through their collaboration with infoSentience.

  • 18:49: Steve mentions that there's a good chance infoSentience might get acquired in the future, especially if they continue to do a good job. He believes that their technology is ahead of their marketing efforts, and their versatile, content-agnostic tech could be valuable to a larger firm with extensive data resources.

  • 20:49: Steve expresses his wish for improved data quality and data understanding in the industry. He emphasizes the challenges companies face when dealing with inconsistent and complex data.

  • 24:36: Steve also highlights the significant open rates achieved by their clients using automated narratives and the potential for future growth and acquisitions.

  • 25:51: Steve shares his motivation to continue pushing forward after overcoming technology challenges and reaching a point where they can showcase their work effectively.

3 Key Points

  1. infoSentience’s system employs a rules-based approach to mimic human conceptual understanding, allowing it to process and communicate information effectively while avoiding the pitfalls of irrelevant or repetitive content.

  2. infoSentience recognizes the need for vertical-specific customization, they also aim to establish common models and approaches to address fundamental analytical inquiries that apply broadly across different clients and industries.

  3. Steve highlights the challenges associated with data analysis, data synthesis, and integrating data from different sources, suggesting that these are complex areas where their technology can shine.

Tweetable Quotes

  • “infoSentience’s approach involves taking data from various sources and organizing it using a conceptual ontology, which helps establish relationships between different concepts within the data.” - Steven Wasick

  • “When reading poorly written or robotic content, readers often encounter irrelevant or confusing information that forces their brains to pause and question its significance. This disrupts the flow of understanding and can be frustrating.” - Steven Wasick

  • “infoSentience’s future could involve integrating their technology into larger organizations to enhance data-related capabilities.” - Steven Wasick

  • “Having a clearer understanding of data and its nuances from the beginning would be beneficial for infoSentience and similar companies that rely on data for their services.” - Steven Wasick

Resources Mentioned:

Fintech ImpactJason PereiraFintech