Neurensic, an artificial intelligence (AI) technology startup focused on software-as-a-service solutions for the financial services industry, has announced the formation of a new Innovation Lab, which will focus on applying its big data aggregation and AI capabilities to nascent technologies such as blockchain.

“Neurensic’s ultimate goal is to bring together all business processes currently completed post-trade into a single vendor platform that is able to function real-time and at-trade, opening new horizons for self-regulating markets and ultimately redefining all financial transactions. I have faith that our new Innovation Lab will accelerate this process”, said said David Widerhorn, Chief Executive Officer.

This lab will be led by Neurensic co-founder Zachary Watts, who is being named as Chief Innovation Officer.

“Bringing a business intelligence layer to distributed ledger solutions is critical to forming a sustainable path toward adopting these technologies in the long-run,” said Watts. “We are very excited to be involved in a number of projects that are exploring this concept of creating a framework to help future-proof the financial industry.”

In addition, the startup also appointed Dr. Cliff Click as the Chief Technology Officer. Dr. Click was CTO and co-founder of H2O.ai. He brings his deep expertise in machine learning and distributed computing to Neurensic. He was one of the creators of the Java programming language, inventing just-in-time compilation technology, and holds approximately twenty patents.

Dr. Cliff will be responsible for the ongoing development of the firm’s compliance and operational risk products, CORE and OPS, as well as the firm’s distributed real-time data aggregation and artificial intelligence frameworks.

“I'm really excited to join Neurensic; here is a rare opportunity to make a real impact in the world,” said Dr. Click. “I think machine learning has a lot to offer the financial industry, not just in enforcing new regulations and maintaining market integrity, but also in updating legacy technology and bringing the industry forward into the current century. The problems are big, the data is big, but the rewards to the global economy are even bigger."

In the coming weeks, Dr. Click will open Neurensic’s Silicon Valley office, which will focus on leveraging open-source technology to advance the scalability and performance of the firm’s product line.