Swissquote Bank, a Switzerland-based leading online banking group, today announced the launch of a new artificial intelligence (AI) platform, the DE30 Social Sentiment Index (DE30 SS). This platform will help investors anticipate the real impact of the upcoming German election on the market and especially on the German DAX.
The DE30 SS Index was developed in collaboration with the École Polytechnique Fédérale de Lausanne’s (EPFL) social media lab. The index makes use of AI to collect and evaluate the opinions expressed by investors on social media platforms to gauge the prevailing sentiment in the financial markets and German DAX. The tool helps investors capitalise on voter opinion and make sound investment decisions during the period.
Marc Bürki, CEO of Swissquote, commented on the launch: “The use of artificial intelligence in finance is still beginning. Our goal is to drive its development so that it can be used as quickly as possible by the broadest possible audience.”
The DE30 SS index uses two AI technologies in deriving the results. First, through a natural language processor (NLP), the meaning of the opinions expressed on social media is interpreted, and then through the use of graph theory, the context of each text is determined to avoid interpretation error.
This is not the first time that Swissquote has developed an AI system for predicting market sentiment during elections. During the French presidential elections earlier this year it launched a similar platform.