This entrepreneur is behind an app that can make stock market predictions

Watstock will give you tomorrow’s stock price today.

Carl Freer is a Swedish technology entrepreneur who is behind Watstock, an application developed in collaboration with IBM Watson that uses Artificial Intelligence and ELM (Extreme Learning Machines) to predict the stock market for up to 10 days with extremely high accuracy due to its revolutionary Neural Network.

“Typically, only information that has the stock as a keyword is gathered to sieve out anomalies and trends related to that stock’s financial history,” says Watstock Chief Executive Officer Carl Freer.

“WatStock however, identifies beyond keywords - its AI technology includes news and information that can influence the stock. It combs through the Internet and finds a bit more than just the needle in the haystack with regards to events that might trigger more market outcome.” Freer notes that the stock market is an amazing phenomenon in its own right and that one cannot predict with absolute certainty what will happen.

The main difference, Freer notes, is that WatStock’s analytic power lies not just in statistics and historical financial data but also sentiment and trend behaviour, and sigma and black box, which add to a higher layer of accuracy in predictions.

“Before, you’d have to manually collate and filter information and data for a company or stock and make your own assessments based on instincts and assumptions,”he says.

The public has never been able to access AI-based technology that will predict future prices, due to it being expensive, time consuming, and challenging. Investors’ overall satisfaction decreases significantly because of the challenge of spotting investment opportunities.

According to him, the accuracy of WatStock is not the only thing that is being tested but also the public’s trust for and attitude toward AI. Freer says he created WatStock to ”remove the barriers of limitation, inconvenience, and inaccuracy.”

“By leveraging on AI and ELM technologies, a record amount of information can be processed to give you future prices. The public can then access tomorrow’s stock price instantaneously at their fingertips anytime,”he says.