FactSet and CID Collaborate to Offer AI-Driven Prospecting and Investment Solutions 

Rhea-AI Summary

FactSet (NYSE:FDS) has announced a multi-year partnership with CID, an AI software innovator, to enhance its AI capabilities. This collaboration aims to create a joint data lake that integrates unstructured web content with FactSet's structured datasets. The partnership will enable FactSet clients to derive actionable insights, improving operational efficiency and client engagement. The initiative is expected to yield additional AI-related products and services, further solidifying FactSet's position in the financial analytics market.

Positive

• Multi-year agreement with CID to enhance AI capabilities.
• Creation of a joint data lake for better data integration.
• Improvement of operational efficiency and client engagement.

Negative

• None.

NORWALK, Conn., July 28, 2022 (GLOBE NEWSWIRE) -- FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading services, today announced a multi-year agreement with CID, the artificial intelligence (AI) software innovator, to expand its AI capabilities and provide financial industry professionals with actionable insights to improve operational efficiency and build high-quality investment solutions.  

The collaboration leverages both FactSet and CID’s leading AI solutions to build a joint data lake for the financial industry, which merges unstructured public web content with FactSet’s structured content sets, along with optional third-party and client content into vast entity-relationship graphs.

FactSet’s agreement with CID offers the tools to extract and uncover valuable insights from qualitative, unstructured datasets to support FactSet clients’ enhanced business processes and deepened client interactions.

“The alliance with CID strengthens our AI capabilities so that clients can benefit from more actionable insights,” said Jonathan Reeve, EVP, Head of Content and Technology Solutions at FactSet. “The collaboration allows the no-code technology to seamlessly integrate with our data feed and API offerings to provide clients with self-service AI at scale.” 

“Our relationship with FactSet underlines the core value our systems provide,” said Alexander Loerch, Managing Director, CID. “When qualitative insights mesh with fundamental and unstructured data, incredible things can happen.” 

FactSet and CID will continue working together to launch additional AI-related products and services to further strengthen its AI capabilities and solve client’s workflow challenges. To learn more about FactSet’s AI offering, visit: Artificial Intelligence | FactSet. 

About FactSet 
FactSet (NYSE:FDS | NASDAQ:FDS) delivers superior content, analytics, and flexible technology to help more than 170,000 users see and seize opportunity sooner. We give investment professionals the edge to outperform with informed insights, workflow solutions across the portfolio lifecycle, and industry-leading support from dedicated specialists. We're proud to have been recognized with multiple awards for our analytical and data-driven solutions, with the distinction of having been recently added to the S&P 500, and repeatedly scored 100 by the Human Rights Campaign® Corporate Equality Index for our LGBTQ+ inclusive policies and practices. Subscribe to our thought leadership blog to get fresh insight delivered daily at insight.factset.com. Learn more at www.factset.com and follow us on Twitter: www.twitter.com/factset. 

About CID 
CID is an artificial intelligence software innovator headquartered nearby Frankfurt, Germany, with offices across Europe and in the United States. Since 1997, we believe building powerful, long-lasting, and scalable software is as much a creative process as a technical one. CID’s Thematic Intelligence platform Affinity allows asset managers to build better investment solutions by enriching fundamental data with qualitative insights. Sales organizations use Affinity to identify business opportunities from existing customers and new prospects, leverage intelligence and network information to win more business more efficiently, and provide highly relevant advice to build long-term, trust-based client relationships. Learn more at www.cid.com and follow us on LinkedIn: https://www.linkedin.com/company/cid-gmbh.

FactSet 
Investor Relations Contact:                          
Kendra Brown                                         
+1.203.810.2684                                 
kbrown@factset.com 

Media Contacts:                          
Benedicte Godet 
+33 645711658 
Benedicte.godet@factset.com

Megan Kovach 
+1 (512) 736-2795 
megan.kovach@factset.com 

CID 
Client Relations Contact: 
Alexander Stumpfegger 
+49 6051 8846 101 
a.stumpfegger@cid.com 

FAQ

What is the significance of FactSet's partnership with CID?

The partnership aims to enhance FactSet's AI capabilities, improving data integration and client insights.

How will the collaboration with CID affect FactSet's services?

It will allow FactSet to provide clients with actionable insights derived from a combination of unstructured and structured data.

When was the agreement between FactSet and CID announced?

The agreement was announced on July 28, 2022.

What are the expected outcomes of the FactSet and CID collaboration?

The collaboration is expected to yield additional AI-related products and improve operational efficiencies for clients.