Fintech firm Alpaca launches “AlpacaForecast AI Prediction Matrix” for Bloomberg users

Maria Nikolova

The “AlpacaForecast AI Prediction Matrix” is an application that utilizes Alpaca’s large-scale data processing technology and deep learning technology and shows real-time short-term forecasts for major markets.

Japanese fintech expert AlpacaJapanCo., Ltd. has announced a partnership with Bloomberg L.P. and the launch of a price forecasting application “AlpacaForecast AI Prediction Matrix” for Bloomberg users.

The “AlpacaForecast AI Prediction Matrix” is an application that utilizes Alpaca’s large-scale data processing technology and deep learning technology and shows real-time short-term forecasts for major markets. The company has decided to develop this application in hope that it would bring advanced AI market forecasting capabilities to the global financial community, right to their desks.

In particular, Alpaca applied convolutional neural network (CNN) based deep learning engine with high pattern recognition function commonly used for image recognition/video recognition to time series analysis. Analysis of tick data which has been hard for human eyes to recognize makes market prediction possible.

For the time being, the list of supported assets includes USD/JPY, EUR/USD, AUD/JPY and US Treasury 10 years bond etc. The company is planning to expand the asset classes and coverage period in the future for users at no additional cost. Also, Alpaca plans to release “AlpacaForecast AI Prediction Matrix Pro” which includes CME products in the near future.

Alpaca reiterated its commitment to developing AI-driven market forecasting leveraging big data processing and deep learning technology.

Alpaca has been working on other AI-based solutions too. In March this year, a partnership between Japan’s Jubun Bank and Alpaca resulted in a new service harnessing the capabilities of AI. The solution targets those who would like to make use of foreign currency deposits and would like to do so at the right moment, that is, when the exchange rates are most favourable.

The service aims to determine when the exchange rates are best and alerts the customer about it. Based on account settings pre-defined by the customer, the AI system makes a deposit from one’s JPY account to one’s foreign currency savings account. As per the default settings, the system will make such a transfer automatically once a month, when the AI engine determines that the rates are the best. The customers have the right the determine upper and lower limits for the exchange rates they deem acceptable.

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