Meet AiDA, your first AI deal team member
Name: Ansarada Intelligent Deal Assistant, or AiDA for short
Experience: 20,000 deals and counting
Languages: Speaks human, Natural Language, OCaml, AQT, Cypher, React Native – JSX, F#, Haskell
Key Skills: Responds in seconds, predicts outcomes based on data, always learning, customer focus, loyal, patient, always ready with answers, never sick
Availability: 24/7, 365 (no vacation days required)
Loves: Constantly learning, polyamorous data relationships, listening, problem solving
Sydney, 21 September 2017 – Ansarada today announced the launch of Ansarada Intelligent Deal Assistant (AiDA), the world’s first artificial intelligence (AI) deal assistant app.
Analysts, executives and advisors can now talk to their material information and events, getting real-time status reports and more. They can ask – “Who accessed our deal room today?”, “Which team are the most active in the deal?”, “What are the most viewed documents?” or whatever else they’d like to know.
The game changing technology improves efficiency and speeds up deals, or material business events such as mergers & acquisitions, IPOs, capital raises, tenders, real estate sales and other transaction types completed in Ansarada Rooms.
AiDA has over 20 ‘skills’ to bring to the deal team and is learning more every day. Soon nearly any question a Managing Director might ask of an analyst will be answered by AiDA. AiDA is an intelligent analyst benefiting from AI, machine learning and natural language processing.
- Leading material information platform provider launches AiDA, a world-first AI deal assistant to provide answers and insights into deals by simply asking a question
- The AI-based app allows users to ask questions in natural language and receive answers instantly
- The powerful technology eliminates manual tasks and low value work generating reports and seeking answers, resulting in clients, managing directors and analysts always staying in control
- Ansarada extends innovation lead in transforming legacy virtual data room market into an AI powered material event management platform on any device
- AiDA was born out of intelligence and deal makers experience from more than 20,000 deals worth billions of dollars that were completed on the Ansarada platform
- The breakthrough innovation is thought to be the biggest tech development to come out of Australia so far this year
Dealmakers and business executives will be able to run a deal like never before, with critical information available on demand ahead of crucial calls and bidder negotiations. AiDA will also significantly improve process efficiency by saving advisors the countless hours per week usually spent running reports, filtering spreadsheets, and providing ad hoc updates, allowing them to provide higher value services that drive better deal outcomes.
AiDA is the second AI-based product recently released as part of Ansarada’s strategy to reinvent the legacy virtual data room industry by empowering advisors and businesses to do deals better through AI and machine learning. It follows the August launch of AiQ Bidder Engagement Score, which uses an AI algorithm to predict bidder outcomes in financial deals with up to 97 per cent accuracy.
How AiDA works
The app uses intelligence gathered from more than 20,000 deals completed on the Ansarada platform and AI technology to understand questions and instantly find the right answer.
The app uses Apple voice to text to convert the questions asked by voice into text and then uses Api.AI (by Google) to understand the intent in the question and find an answer (Natural Language Processing and Machine Learning).
AiDA uses natural language processing technology that reacts based on identifying intent in users’ questions. Whether a person asks “which people viewed documents?” or “who’s looked at docs?”, they will receive the answer they are looking for.
AI and machine learning technology learns and understands the questions asked and applies the intelligence in future interactions.
Comments on the news:
“In today’s world of immediacy, it makes sense for senior dealmakers to have access to the information they need, whenever they need it. Say an Advisory MD is about to face their client and needs an update on the state of a deal or a particular negotiation, they’ll be able to get the relevant information in seconds. It’s an incredibly powerful tool for decision makers and will help them at every step of the way on the dealmaking journey,” said Ansarada Founder and CEO Sam Riley.
“AiDA will change the game for executives and their advisors. It’s a key element in our strategy of harnessing the power of AI to raise and protect the potential in businesses. Executing transactions faster with less risk is our focus. Executives will get instant updates whenever they need them and the time advisors previously spent manually running reports to provide these updates can be spent devising and implementing recommendations,” said Ansarada Chief Product Officer Matthew Brown.
AiDA is generally available for iPhone users from 19 September 2017 on the iTunes App Store. AiDA complements Ansarada’s market leading event management and information platforms and is free to users of both.