12/21/2023 15:49
A contract was signed on the premises of the Zagreb Stock Exchange marking the beginning of the creation of an advanced solution for the automated valuation of companies based on machine learning: the Artificial Intelligence Research Project.The contract marking the beginning of cooperation was signed by Ivana Gažić, President of the Management Board of the Zagreb Stock Exchange, Kristijan Cinotti, Ph.D., Managing Partner of the consulting company Mazars, and Slađana Krpić, a member of the Management Board of the IT solutions provider Poslovna inteligencija.
The project was financed by the EBRD with the support of the Taiwan Business EBRD Technical Cooperation fund. Considering the potential, stakeholders expect great interest in Croatia and the region. One of the difficulties that listed companies in Croatia and comparable regional markets face is the absence of analytical monitoring which makes it difficult for investors to make investment decisions. The availability of such analysis also means a contribution to market transparency. In the first phase of development, the solution will enable the preparation of automated reports on valuation of shares for listed companies.
Regarding the second stage of development, the plan is to connect the solution with AI technology. The idea is to enable automation and speed up what-if analysis and consequently contribute to the effectiveness of the research on the value of companies.
The goal of the solution is to provide access to the valuation to all stakeholders. The benefits of the solution will be reflected in the increased availability of research, significant reduction in the time required for data collection, reduced reliance on human resources which will also mean reduced possibility of errors, the possibility of faster valuation of stocks, and enabling of using a simple data analysis tool.
The Zagreb Stock Exchange previously participated in a similar project supported by the EBRD which enabled analytical monitoring of some of the listed companies and showed that there is a strong need for such types of reports and data.
The project will start in December 2023 and the completion is announced for the end of 2024. On this occasion, the finalized solution will be presented to the general public.
