Arria NLG secures two new pilot programmes

Arria Natural Language Generation (NLG) announced on Tuesday it secured two paid pilot programmes from within the financial services industry for its NLG software technology.

The firm specialises in artificial intelligence (AI) software that extracts information from complex data sources and communicates that information in natural language.

One programme is used to automate internal reporting for a large North American Bank, while the other is for providing summarised portfolio performance reports for clients of a US brokerage and banking corporation. The board feel that both programmes will lead to "recurring revenue licensing agreements upon successful completion of the pilot".

The directors also believe the demand for NLG applications in the Americas will continue to grow as businesses become increasingly aware of their need for an AI strategy.

Chairman and CEO of Arriva BLG, Stuart Rogers said: “There are enormous and ever-growing data sets about finance, as well as many other critical business segments, creating vast analytical challenges to businesses. These data sets can be mined for insights that have the potential to radically change and improve the value and timeliness of a company's core information. These new client engagements illustrate the growing potential of using NLG in business.”

In addition to new clients, the company is releasing two new offerings, one in software as a service (SaaS) and the second a software developer’s toolkit (SDK).