Unleashing the Power of AI in FINANCE: How SAMSUNG-Backed Linq is Transforming Financial Research

Various innovations persist as the finance industry remains obsessed with technology. Recently, a big hype has been formed around artificial intelligence (AI), especially with the advancement of generative AI technology, such as ChatGPT, which poses a new level of efficiency in finance. The AI revolution that has been taking place over the past few years could finally transform the way financial analysis is carried out, given speed and transparency seemingly like never before. One of the startups that has raised concerns and attracted funds for its AI technology is Linq. It recently secured around $6.6 million and Amazon-rival Samsung is the prominent investor. Linq also offers special technology that could revolutionise financial research.

Revolutionizing Financial Analysis with AI

The Birth of Linq

At the core of Linq’s existence is a tale of creativity and drive. Created by MIT graduates Jacob Chanyeol Choi and Subeen Pang, Linq won the Samsung Open Collaboration in 2023, which led to the graduates to develop LLMs for the financial sector. Linq’s goal was to enable users to ‘plug into a company’s data ecosystem to manage and more efficiently interpret the data.

The Power of Linq's AI

Linq is an AI company with domain-specific AI expertise, focused in finance for data-intensive financial analysis. Linq’s AI agent is an integrated platform for automating many tasks such as scheduling and communication, as well as writing financial models and summaries of financial data. Linq’s domain expertise is focused around summarising complex financial data from 10Q and 10K securities filings, earnings reports, transcripts of analyst and investor calls, and other scrutable texts. Linq is particularly useful for analysts at hedge funds and institutional investors.

Bridging the Gap in Financial Research

While general AI tools promise to help everyone with anything, Linq is built for the financial world’s idiosyncratic, specific needs and it can deliver a boost to productivity where it is needed the most. Institutional investors, swamped by trying to evaluate hundreds of equities, found Linq giving them more time to get their jobs done.

Competing in a Crowded Space

Linq is hardly the only contender, of course, as Bloomberg and S&P also have generative AI tools and marshal the world’s largest gathering of experts to interpret data. Startups such as Fintool and Finpilot also want in on the action. But for global coverage, an end-to-end service that can handle the workflow as well as the data (with all its idiosyncrasies in multiple languages) is a selling point.

A SAMSUNG-Supported Journey to Innovation

Consider Linq’s collaboration with Samsung Financial Network. The startup was selected to automate underwriting processes for the Korean conglomerate. It now services more than a dozen enterprise customers, mostly Samsung affiliates, as well as big companies such as the accounting firm KPMG US. This is no small feat and a testament to Samsung’s confidence in Linq’s vision.

Future Aspirations and Global Expansion

Now armed with the injection of capital, Linq is preparing to scale. The startup plans to pursue product development, human capital, and measurable geographical expansion. The firm’s 12-person team leads its operations from a shared single-room office in Seoul, South Korea. Linq is ensconced in a very real revolution in finance research, and the new revenues acquired by the firm are not just profits, but they are also vehicles of the financial industry’s transformation into something cleaner.

About SAMSUNG

Samsung, a technological powerhouse from South Korea, salutes innovation in its ecosystem by also supporting startups such as Linq. While continuing its traditional cutting-edge approach in electronics, Samsung has recently entered other sectors such as finance via the Samsung Open Collaboration supporting Linq. Samsung Open Collaboration, which supports the development of Algorithmic Trading allows Linq to further improve its trading services for better-informed market-makers. The list of supporters and strategic partners, which includes world-leading elements of Silicon Valley, Switzerland, the global financial leaders of Singapore, and of course technology giants such as Samsung from South Korea, is impressive. Samsung strives to enable technological advancements and intelligent solutions that will make the world more connected and efficient.

In this new age of big data as a new form of currency, Linq – with the material support of the industry giants such as Samsung – is transforming the world of financial research with artificial intelligence. This article was originally published in Korean on 12 May 2016.