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January 9, 2020

DWS ups AI game with minority stake in Arabesque AI

DWS Group has picked a 24.9% interest in Arabesque AI, a UK-based technology firm with an AI engine to forecast stock price.

The value of the deal was not disclosed. The stock price prediction engine of Arabesque AI leverages machine learning, big data as well as computing.

At the same time, the two parties entered into an alliance. The partnership is aimed at strengthening the AI engine using the investment knowledge of DWS and the machine-learning capabilities of Arabesque AI.

The two companies also intend to work together to launch investment solutions powered by AI. To make this vision a reality, the duo plan to set up an expert working group.

Commenting on the tie-up, DWS CEO Asoka Woehrmann said: “The strategic partnership with Arabesque AI is the next step towards the digitalisation of DWS. It will clearly strengthen our digital capabilities and, in particular, our Artificial Intelligence know-how. We will be able to harness disruptive technology within the asset management industry for our advantage.

“In the future, the AI engine will deliver innovative signals that will help us identify additional alpha sources, and will enable us to make smarter decisions.”

The latest deal builds on the purchase of a 2.68% stake in ESG scoring firm Arabesque S-Ray by DWS.

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