This unprecedented solution has the ambition of revolutionising the market of wealth management by offering its users access to quantitative analyses and summaries of 100 000 artists from the 19th century to the present day. The platform targets both actors from the art market (galleries, auction houses, collectors etc.) and from the wealth management sector (family offices, private banks, insurers). Happening Technologies becomes de facto the benchmark player in the intelligent management of data related to investment in art.
The company Happening Technologies, created by French entrepreneur Adeline Pilon, is backed by European and American investors. Happening is the product of a simple observation: the markets of art and finance can enrich one another and hold considerable value creation potential. Art needs the liquidity provided by access to financial markets, and finance needs the new asset class represented by art. Investors are looking for news sources of value within markets, in a context of short-term behavioral patterns on the stock market, the return of volatility driven by geopolitical risk and distorted valuations following a decade of large-scale monetary easing. However, the only missing link necessary to bring about a richer convergence between these two markets is technology.
The team is composed of experts in art history, investment, data management and artificial intelligence, and has deepened its expertise by concluding a strategic partnership with LIST (Luxembourg Institute of Sciences and Technologies), a research institution specialised in data management. It also benefits from a public subsidy in Luxembourg.
Through the deployment of Artist Profiles, Happening Technologies brings about a full convergence between the world of art and artificial intelligence by making key variable of each artist immediately accessible and intelligible, and helping users identify associated risks and opportunities. Artist Profiles allows users to access quantified analyses on around 85% of the art market calculated in terms of value, and so aspires to propose the same informational efficiency for the art market as Bloomberg does for stock markets.
Adeline Pilon, Co-Founder and CEO of Happening Technologies said: “The main obstacle to the emergence of art as a true asset class derives from the opaque nature of information within the art market. With the creation of Artist Profiles, we have been able to provide a technological solution bridging the gap between the two worlds of art and finance, fields which are related but still relatively separate. Artificial Intelligence combined with historical knowledge of art enables us to demystify a market which has created its own unique value system. Artist Profiles renders data on the art market transparent and exploitable within investment processes and gives new meaning to the aesthetic value of the listed works by bringing them together within an intuitive and dynamic interface. After the successful launch of this product, we will be bringing new innovations to market within the ArtTech space through the development of artificial intelligence and we will undertake a fundraising before the end of the year.”
Proposed in web and soon to be launched as a mobile application, the “data-visualisation” proposed by Artist Profiles is structured according to 5 categories of information :
1. Exhibitions (where an artist is showing in the world and in what spaces),
2. Press coverage (who is speaking about them and in what language)
3. Internet (how an artists’ popularity evolves)
4. Galleries (where to buy their work) and
5. Auctions (results on archived auctions of artist’s work, price volatility, liquidity)