Neurensic, an artificial intelligence technology start-up focused on software-as-a-service solutions for the financial services industry, has announced the formation of a new Innovation Lab which will focus on applying its big data aggregation and artificial intelligence capabilities to blockchain technology and other emerging technologies. This lab will be led by Neurensic co-founder Zachary Watts, who is being named Chief Innovation Officer.
Watts remarked: “Bringing a business intelligence layer to distributed ledger solutions is critical to forming a sustainable path toward adopting these technologies in the long-run. We are very excited to be involved in a number of projects that are exploring this concept of creating a framework to help future-proof the financial industry.”
Also announced was the appointment of Dr. Cliff Click, who has been named Chief Technology Officer. He joins Neurensic from H2O.ai, where he was CTO and co-founder. As CTO of Neurensic, Click will have responsibility for the ongoing development of the firm’s compliance and operational risk products, CORE and OPS, as well as the firm’s distributed real-time data aggregation and artificial intelligence frameworks. In the coming weeks, Dr. Click will open Neurensic’s Silicon Valley office, which will focus on leveraging open-source technology to advance the scalability and performance of the firm’s product line.
Speaking on his appointment, Dr. Click commented: “I’m really excited to join Neurensic; here is a rare opportunity to make a real impact in the world. I think machine learning has a lot to offer the financial industry, not just in enforcing new regulations and maintaining market integrity, but also in updating legacy technology and bringing the industry forward into the current century. The problems are big, the data is big, but the rewards to the global economy are even bigger.”
Dr. Click brings decades of experience in building successful technology teams, as well as a deep expertise in machine learning and distributed computing. He was one of the creators of the Java programming language, inventing just-in-time compilation technology, and holds approximately twenty patents.
Chief Executive Officer David Widerhorn stated: “These two exciting events for Neurensic are another step forward in our long-term vision of replacing unsustainable legacy systems with artificial intelligence powered technologies. Our solutions not only improve cost efficiency and performance, but enable firms to benefit from insights hidden within their data.
Neurensic’s ultimate goal is to bring together all business processes currently completed post-trade into a single vendor platform that is able to function real-time and at-trade, opening new horizons for self-regulating markets and ultimately redefining all financial transactions. I have faith that our new Innovation Lab will accelerate this process.”