Eigen Technologies Selected to be World Economic Forum Technology Pioneer
- Eigen Technologies selected as one of the World Economic Forum Technology Pioneers for 2020.
- The award recognizes the world’s most promising companies that are shaping the future using advanced technologies such as AI, robotics, and biotechnology.
- Eigen was selected by the World Economic Forum for its contributions to the field of AI and for how its NLP technology transforms the use of qualitative data.
- Previous include Google, Spotify, Airbnb, Twitter, and Mozilla.
London, UK - Eigen Technologies, the global provider of natural language processing (NLP) has been selected from an extensive field to be one of the World Economic Forum Technology Pioneers for 2020. Eigen’s selection recognizes the impact of its unique machine learning powered NLP technology, which is used across financial services, law, insurance, and professional services to unlock the value of qualitative data. The company’s technology is currently use by over 25% of the G-SIBs1, as well as major asset managers, hedge funds, law firms, and insurers.
The World Economic Forum’s Technology Pioneers are early-to-growth-stage companies from around the world that are involved in the design, development, and deployment of new technologies and innovations, and are poised to have a significant impact on business and society. The Technology Pioneers community is an integral part of the larger Global Innovators community of start-ups at the WEF.
Following Eigen’s selection as a Technology Pioneer, its Co-founder & CEO Dr Lewis Z. Liu will be invited to participate at the World Economic Forum activities, events, and discussions throughout the year. Eigen will also contribute to Forum initiatives over the next two years, working with policymakers and private sector leaders to help define the global agenda on key issues.
Dr Lewis Z. Liu, Co-founder & CEO of Eigen Technologies said:
I am deeply honored that Eigen has been recognized by the World Economic Forum for pioneering commercial and technological advancements in what we call the Qualitative Data Revolution: the transformation of textual, qualitative data into structured data that can be used to mitigate risk, automate business processes, or make better decisions.
One of the principle causes of the 2008 Financial Crisis was the lack of data transparency: banks, insurance companies, and retail investors simply did not know what was in the underlying financial products that were bought and sold. Once again, we see during the ongoing Covid crisis how companies are being exposed to unnecessary risks in their supply chains, insurance coverage, or financial positions. Although this data exists, all too often it is still trapped in unstructured formats like textual documents.
We hope that by joining the World Economic Forum Technology Pioneer Community, Eigen can better understand and better serve the global community through unleashing the power of qualitative data.
This year marks the 20th anniversary of the Tech Pioneers community. Throughout its 20-year run, many Technology Pioneers have continuously contributed to advancement in their industries while some have even gone on to become household names. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
2020 Tech Pioneer firms are shaping the future by advancing technologies such as AI, IoT, robotics, blockchain, biotechnology and many more. The full list of Technology Pioneers can be found here.
Technology Pioneers have been selected based on the community’s selection criteria, which includes innovation, impact and leadership as well as the company’s relevance to the World Economic Forum’s Platforms.