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(Sharecast News) - Data science and machine learning solutions business Insig AI has struck a licence agreement and revenue share with British unlisted securities marketplace JP Jenkins.
Insig AI said on Monday that under the licence agreement, JP Jenkins will have access to its Transparency and Disclosure Index and stated it will also provide a ready-made toolkit that allows users to quantify and explore datasets.
The AIM-listed firm stated the agreement was for an initial 12-month term but noted there was no guaranteed minimum income arising from the revenue share.
Chief executive Richard Bernstein said: "JP Jenkins presented us with a classic use case for AI technology. It needed the ability to rank and review the clarity and relevance of a company's sustainable reporting in relation to its peers. This technology allows it to identify sectoral trends and match these with data visualisations, delivering comprehensive reports quickly and efficiently.
"We are delighted to be partnering with JP Jenkins. In addition to delivering annual licence income, they are an excellent distribution channel for us to access dozens of growing corporates keen to ensure that they adopt transparent disclosures."
As of 1000 GMT, Insig AI shares were up 1.75% at 14.50p.
Reporting by Iain Gilbert at Sharecast.com
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