Productivity AutomationVerified

State Street integrated a machine learning platform from Canoe Intelligence to automatically convert unstructured private markets documents — such as PDF fund reports — into structured, usable data for institutional clients.

Details

In June 2021, State Street announced a partnership with Canoe Intelligence to implement cloud-based machine learning technology for private markets processing and document management. Canoe's platform automates the digitization of PDF reporting documents (including fund statements and alternative investment data) into structured data, replacing what State Street described as 'traditionally onerous and manual alternative investment workflows.' Canoe's API integrates with State Street's technology ecosystem to process all alternative investment data across client portfolios.

Products affected

State Street Global Services (alternatives)Mercatus (private markets platform)

Sources & Evidence

Company Disclosure

State Street Leverages Machine Learning to Streamline Private Markets Processing and Document Management Through Partnership with Canoe Intelligence

Business Wire·Jun 2021

https://www.businesswire.com/news/home/20210622005654/en/State-Street-Leverages-Machine-Learning-to-Streamline-Private-Markets-Processing-and-Document-Management-Through-Partnership-with-Canoe-Intelligence

News Article

State Street Leverages Machine Learning to Streamline Private Markets Processing and Document Management Through Partnership with Canoe Intelligence

Canoe Intelligence·Jun 2021

https://canoeintelligence.com/state-street-leverages-machine-learning-to-streamline-private-markets-processing-and-document-management-through-partnership-with-canoe-intelligence/

Other practices by State Street

Data AnalysisState Street Global Advisors integrated a partner AI platform that uses a large language model to scan thousands of regulatory filings and categorize companies into innovation buckets used to inform the construction of innovation-themed ETFs.Data AnalysisState Street Investment Management uses machine learning models — including non-linear methods and natural language processing — to support quantitative investment processes such as earnings forecasting, risk estimation, and trading.Customer SvcState Street tested a generative AI chatbot called Alpha Co-Pilot that would allow institutional clients to ask natural language questions about their portfolio data, trade status, documentation, and economic indicators.

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