The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
22 November 2024
Insig AI plc
("Insig AI", the "Company" or the "Group")
New business win from existing client following new product offering in AI solutions
Insig AI plc (AIM:INSG), the data science and machine learning solutions company serving the asset management industry, is pleased to announce that a London based alternative investment manager with in excess of £100 billion of assets under management has awarded Insig AI with a contract to migrate its data into the cloud, enabling its data to be machine-readable for planned and future AI and machine learning applications and advanced analytics.
The initial contract value is GBP80,000 and is expected to be completed by 31 January 2025.
Richard Bernstein, Insig AI's Chief Executive commented: "In recent months, within the context of growing interest in AI, we have spent time listening to the requirements of asset managers. It is clear that nearly all are willing to embrace AI but lack the in-house expertise to take immediate advantage of what AI has to offer. This is our data science market opportunity. Today's win is the first evidence point of our ability to serve this substantial market where there is a clear business need. I am also pleased to report that this month has seen a substantial increase in new business leads and meetings from prospects keen to hear of our solutions. This augurs well for future new business wins."
For further information, please visit www.insg.ai or contact:
Insig AI plc
Richard Bernstein, CEO Richard.bernstein@insg.ai
Zeus (Nominated Adviser & Broker)
David Foreman / James Hornigold +44 (0) 203 829 5000
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