TechCrunch50 concluded on Wednesday, September 10, 2008 with StockMood.com winning the Thomson Reuters Award for news-based technology. StockMood.com, a website created by Quant the News, LLC, is a stock trading guidance system that uses artificial intelligence to analyze news-influenced "sentiment" expressed toward stocks, and to correlate this sentiment with price changes.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals, and one of the sponsors of TechCrunch50.
"We are honored to receive the Thomson Reuters award. We've put in a lot of work over the last year and it's very fulfilling to see our efforts recognized in this way," comments Quant the News, LLC CEO Brett Markinson. "What we discovered at TechCrunch50 was that there is a huge appetite out there for in-depth quantitative information about the effect of news on stock price. In the past this kind of information has only been available to hedge funds and institutional investors, but with StockMood.com, we're bringing it to the everyday investor."
StockMood.com launched in a private beta on Monday, September 8th at the start of the TechCrunch50 conference and feedback from the initial users was overwhelmingly positive.
Quant the News, LLC Chief Science Officer Dr. Ben Goertzel explains, "It's clear from the initial reactions to the website that ordinary stock investors have a huge interest in this kind of information. We're getting a lot of excited reactions and also, as expected with any new product, a lot of feature requests... Clearly the adventure of StockMood.com is just beginning, but thanks to TechCrunch50 we're off to an excellent start."
In addition to StockMood.com's stock "sentiment" analysis, the website offers unique attributes. One example is its "crowdsourcing" approach, which allows for improvement of its AI's classifications. For example, if the AI classifies an article as positive but the user thinks it is negative, then the user can enter a correction. Then, if the AI considers the user reliable, it will incorporate the user's correction to help guide future judgments.
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