LONDON (Alliance News) - Arria NLG PLC said on Tuesday it secured two paid pilot programmes in the US for its natural language generation technology.
The technology extracts information from complex data sources and communicates it in a natural language. One programme will be used to automate internal reporting for an unnamed large US bank, and the other will provide summarised portfolio performance reports for clients of a US brokerage and banking corporation, also unnamed.
"Both pilot programmes are expected to transition into recurring revenue licensing agreements upon successful completion of the pilot," Arria said.
"These new client engagements illustrate the growing potential of using NLG in business." Stuart Roger, chairman and chief executive of Arria said.
Arria said the demand for NLG applications in the Americas will likely continue to increase as the need to use artificial intelligence in businesses rises.
Shares in Arria were down 1.8% at 14.00 pence Tuesday morning.
By Lucy Heming; lucyheming@alliancenews.com
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