Last week, our acceleratee QARAsoft, an AI-driven asset management platform took part in its first ever Hackathon event in Jeju Island, inviting over 25 people to compete. In just three days, this invitation-only event brought together in-house marketers and developers to collaborate on Deep Learning related projects.
Congratulations to the team for successfully completed in the 3-day Hackathon.
ABOUT QARAsoft
Situated at the heart of Seoul, QARAsoft is a Pre-Series A funded fintech startup that provides online asset management services and customized investment analysis to B2B and B2C clients. Our business model consists of:
· Robo Rider - AI powered service that provides B2B clients with personalized investment portfolios.
· KOSHO AI - A financial forecasting application using our very own AI Deep Learning technology to predict the next week’s markets. You can see more here.
· Market Dreamer - Powers both our B2B and B2C platform, Market Dreamer is a Deep Learning engine that analyzes the past 30 years of market history and extracts over 400 million data using the S&P 500, oil & gold price, fixed income levels, equity markets, and a host of other data.
ABOUT Jeju Island Hackathon
Two teams, QARA and KOSHO, have competed for almost 30 hours straight. The list of criteria for winning consisted of:
· Algorithmic Complexity - The algorithm has levels of sophistication and quality/intricacy
· Creativity - The algorithm is innovative and unique
· Functionality - The program is effective and highly applicable for daily use
· Organization - Coding has clarity and structure
· Business Model - The model is creative, thorough, and realistic
· Marketing Strategy - Creative strategies that fit the business model and targets the right audience and investors
· Design - The program has overall good UI/UX
· Participation - Everyone has contributed equally to the competition
Judges included Luke Byun and Katie Son, the CEOs at QARAsoft, as well as Dr. Shim.
Everyone worked around the clock to create programs geared towards helping people in the financial sector. Each team provided a unique technology with a separate business model, marketing strategy, and design. Here is what they’ve created:
Team QARA found a company called StocKloud AI.
StocKloud AI uses Natural Language Processing (NLP) to summarize company news to help financial professionals with their businesses.
Team KOSHO found a company called Glance.
Glance uses the latest Deep Learning technologies to understand, streamline, and display information related to the financial markets.
The judges voted Glance as the winner for Hackathon 2018. While the scores for both teams were high, what stood out for Glance was its functionality and its algorithmic complexity. Hogun Kim, an AI Scientist at QARAsoft, was voted the MVP for contributing the most to Glance’s technology development.
The ultimate goal of this year’s Hackathon is to apply the technologies we’ve developed for future use at the company.
Since our event was so successful, maybe hosting another Hackathon in the near future might not be such a bad idea. This time, we could invite more people to participate. But we’ll cross that bridge when we get there.