Deloitte and HSBC are among Signal AI's biggest clients. It just launched a new coronavirus tracker for businesses.
- Media monitoring startup Signal AI's biggest clients include Deloitte, HSBC and Amnesty International. Now it's launched a new tool to help businesses keep track of coronavirus.
- The global media intelligence software market is predicted to be valued at more than $11 billion by 2026, according to Verified Market Research.
- David Benigson, chief exec and co-founder, told Business Insider his firm's new coronavirus tracker would help clients cut through the noise of coronavirus.
- The firm's figures show more than a million articles are being published on coronavirus globally every single day.
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Signal AI, a media monitoring startup using artificial intelligence, has launched a new tool to help its clients track global developments related to the coronavirus.
The global media intelligence software market was valued at more than $5 billion in 2018, and was predicted to reach $11 billion by 2026, according to consultancy firm Verified Market Research.
The coronavirus outbreak has wrought havoc on businesses around the world this week, with many companies lowering near-term revenue expectations. On Sunday, Goldman Sachs warned a US recession was on the way, with economic growth set to stall in the first quarter, before contracting 5% in the second.
Signal AI, whose clients include the likes of Deloitte and HSBC, uses artificial intelligence algorithms to recognize when topics of interest are mentioned in publicly available media, such as news articles, business documents and tweets.
This data is then distilled down into whatever is most relevant to a client's needs, such as market trends, changes in local tax legislation or significant political developments.
David Benigson, chief exec and co-founder of Signal AI, told Business Insider his firm's new coronavirus tracker would help clients "cut through the noise".
He said: "There is an overwhelming amount of information out there and - for many businesses - it can be hard to stay on top of what's fact and what's fiction.
"When you have something close to a million articles being published on coronavirus every single day, it's worth having a tool at your disposal to cut through the noise, rank the info in terms of trustworthiness, and give you understandable takeaways."
Using Signal AI, businesses can set up real-time feeds for mentions of the virus from trusted sources, including SEC filings and hundreds of foreign language news sources, to get a grip on global developments.
These can then be easily distributed to the relevant team members, whether they are working on strategy, accounting, human resources or elsewhere. While Signal AI's software is paid-for, businesses will now be able to sign up to its daily coronavirus briefings for free.
"We are all aware of the implications this outbreak has on our everyday lives," said Benigson.
"But now we can provide invaluable insight to businesses across sectors, enabling them to smarter, faster business decisions at a critical time."
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