Insig AI plc (AIM:INSG), a data science and machine learning solutions company serving the asset management industry, has signed a development contract to supply a centralised cloud-based data infrastructure to a London-based alternative investment manager with over $1 billion of assets under management.
Leveraging Insig AI’s proprietary data platform and tools will enable the client to take advantage of the speed and scale cloud computing offers while underpinning its longer-term machine learning strategy.
The contract value is £145,000 and is expected to be completed by 30 June 2022. Together with a number of smaller contracts billed this month, this contract underpins managements’ revenue forecast for the current quarter.
In addition, Colm McVeigh, who in November 2021, joined InsigAI as Chief Commercial Officer has been appointed Chief Executive Officer with immediate effect. Founder Steve Cracknell has become Chief Product Officer.
