Northern Trust (NTRS Quick QuoteNTRS ) has launched an artificial intelligence (AI) powered tool to derive unstructured investment information from alternative asset documents, in a bid to further digitize its alternative asset servicing business. This underpins the company’s efforts to enhance its asset owner clients’ experience as well as abate operational risk in the alternative asset servicing business.
The proprietary solution has been built in collaboration with Microsoft Azure Applied AI Services, which hastens time to value for companies formulating AI solutions, and business and consulting firm Neudesic. The solution transfigures important information, such as cash and stock distribution notices, capital call notices and capital account statements, from an array of unstructured formats into automated, actionable judgements for the investment teams.
The AI-powered data extraction competencies will read the saved documents as well as fund managers’ reports on holdings and operations of the alternative assets. It will also extract data points, including currencies, asset names and market value. The solution deploys two functions — document capturing and data extracting as well as creating an end-to-end, innovative, cloud-induced process adept at moving document receipt notification to digitized, accounting-ready data in a flash. This will facilitate the company to streamline the workflow and reduce the need for manual intervention.
Top Value Stocks To Watch Right Now: Harsco Corporation(HSC)
Harsco Corporation provides industrial services and engineered products worldwide. The company operates through three segments: Harsco Metals and Minerals, Harsco Rail, and Harsco Industrial. The Harsco Metals and Minerals segment provides on-site outsourced services of material logistics, product quality improvement, and resource recovery for iron, steel metals, and asphalt roofing manufacturing; and value added environmental solutions for industrial co-products, as well as manufactures industrial abrasives and roofing granules. The Harsco Industrial segment manufactures and supplies custom-engineered and manufactured air-cooled heat exchangers for the natural gas, natural gas processing, and petrochemical industries; industrial grating products, which include a range of metal bar grating configurations for industrial flooring, and safety and security applications in the energy, paper, chemical, refining, and processing industries, as well as offers GrateGuard, a fencing solution for first-line physical security; and heat transfer products, such as boilers and water heaters for commercial and institutional applications. The Harsco Rail segment designs and manufactures safety systems for transportation and industrial applications; and equipment, after-market parts, and services for the maintenance, repair, and construction of railway track. This segment serves private and government-owned railroads, and urban mass transit systems. Harsco Corporation was founded in 1853 and is headquartered in Camp Hill, Pennsylvania.
- [By Logan Wallace]
Get a free copy of the Zacks research report on First Mid-Illinois Bancshares (FMBH)
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- [By Stephan Byrd]
Shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $44.25.
- [By Max Byerly]
First Mid-Illinois Bancshares, Inc. Common Stock (NASDAQ:FMBH) was upgraded by analysts at BidaskClub from a sell rating to a hold rating.
Fiesta Restaurant Group (NASDAQ:FRGI) was upgraded by analysts at BidaskClub from a buy rating to a strong-buy rating.
- [By Ethan Ryder]
BidaskClub cut shares of First Mid-Illinois Bancshares, Inc. Common Stock (NASDAQ:FMBH) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.