First Derivatives PLC Major Machine Learning Investment in Kx Technology
September 19 2017 - 2:01AM
RNS Non-Regulatory
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First Derivatives PLC
19 September 2017
19 September 2017
First Derivatives plc
("FD" or the "Group")
Major Machine Learning Investment in Kx Technology
FD (AIM:FDP.L, ESM:FDP.I) announces a range of initiatives to
put machine learning (ML) capabilities at the heart of future
development for the Group's Kx technology, in direct response to
increasing interest from current and potential customers. The
measures announced today will accelerate delivery of pipeline
opportunities in software and consulting and provide access to an
increased pool of ML specialists to help increase traction in this
rapidly growing area.
Machine learning is an application of artificial intelligence
(AI) that allows computer systems to use algorithms to adapt to
enable better outcomes, based on data rather than explicit
programming. Kx technology, incorporating the market-leading in
memory time series database kdb+, is able to rapidly process vast
quantities of data using less computing resource than competing
technologies and is therefore ideally placed to enable adoption of
ML across multiple industries and use cases. IDC estimates that the
market for ML-related technology will increase from $12.5 billion
in 2017 to more than $46 billion in 2020.
The Group has already received considerable interest from
existing and potential customers in areas such as Capital Markets,
IIOT, Retail and Digital Marketing with a view to harnessing the
power of Kx for ML purposes. The Group is in the process of
recruiting a team of ML experts with extensive commercial
experience of implementing AI solutions in finance and other
industries and who have worked with teams including Deepmind.
These ML experts will be supplemented by additional Kx senior
technical resources to exploit this exciting commercial
opportunity. It is expected that, as part of the development
effort, interfaces will be created to enable Kx to accelerate
processing and deliver real-time capabilities to ML applications
developed using other technologies. The initiative will be led by
Mark Sykes, a member of the Group's executive committee.
To meet the expected demand for ML and AI consultancy the Group
has signed an agreement with Brainpool, a specialist consultancy
with 130 ML engineers working across commercial and academic
institutions. These specialists have domain expertise in a variety
of industries. Brainpool's consultants will receive training in the
core Kx technology and will be able to work as part of Kx project
teams assembled to deliver the benefits of ML to the Group's
customers.
Peter Bebbington, Chief Technical Officer of Brainpool,
commented: "Machine learning is a key part of the drive to
introduce artificial intelligence into enterprises to deliver
automation, maximise efficiencies and generate value. Our agreement
with FD will support the proliferation of Kx, an important enabling
technology, to enable this transformation."
Brian Conlon, Chief Executive Officer of Kx, commented: "The
interest from current and potential customers in using Kx for
machine learning reinforces our belief that our technology has a
major enabling role to play in supporting the development of ML and
AI technology. The measures we have announced today will allow Kx
to power real-time, mission critical ML applications and support
our drive to position Kx across multiple industries."
Enquiries
For further information please contact:
First Derivatives plc +44(0)28 3025 2242
Brian Conlon, Chief Executive www.firstderivatives.com
Officer
Graham Ferguson, Chief Financial
Officer
Ian Mitchell, Head of Investor
Relations
Investec Bank plc (Nominated
Adviser and Broker)
Carlton Nelson
Sebastian Lawrence +44 (0)20 7597 4000
Goodbody (ESM Adviser and
Broker)
Linda Hickey
Finbarr Griffin +353 1 667 0420
FTI Consulting
Matt Dixon
Dwight Burden
Darius Alexander
Niamh Fogarty +44 (0)20 3727 1000
About Kx
Kx is a division of FD, a global technology provider with 20
years of experience working with some of the world's largest
finance, technology, retail, pharma, manufacturing and energy
institutions. Kx technology, incorporating the kdb+ time-series
database, is a leader in high-performance, in-memory computing,
streaming analytics and operational intelligence. Kx delivers the
best possible performance and flexibility for high-volume,
data-intensive analytics and applications across multiple
industries. The Group operates from 14 offices across Europe, North
America and Asia Pacific, including its headquarters in Newry, and
employs more than 1,800 people worldwide.
For further information, please visit
www.firstderivatives.com
This information is provided by RNS
The company news service from the London Stock Exchange
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