%0 Journal Article %J Technology Innovation Management Review %D 2017 %T Using Artificial Intelligence and Web Media Data to Evaluate the Growth Potential of Companies in Emerging Industry Sectors %A Andrew Droll %A Shahzad Khan %A Ehsanullah Ekhlas %A Stoyan Tanev %K analytics %K artificial intelligence %K business intelligence %K entrepreneurship %K online textual data %K precision medicine sector %K startup growth potential %X In this article, we describe our efforts to adapt and validate a web search and analytics tool – the Gnowit Cognitive Insight Engine – to evaluate the growth and competitive potential of new technology startups and existing firms in the newly emerging precision medicine sector. The results are based on two different search ontologies and two different samples of firms. The first sample includes established drug companies operating in the precision medicine field and was used to estimate the relationship between the firms’ innovativeness and the extent of online discussions focusing on their potential growth. The second sample includes new technology firms in the same sector. The firms in the second sample were used as test cases to determine whether their growth-related web search scores would relate to the degree of their innovativeness. The second part of the study applied the same methodology to the real-time monitoring of the firms’ competitive actions. In our findings, we see that our methodology reveals a moderate degree of correlation between the Insight Engine’s algorithmically computed relevance scores and independent measures of innovation potential. The existence of such correlations invites future work in attempting to analyze company growth potential using techniques founded in web content scraping, natural language processing, and machine learning. %B Technology Innovation Management Review %I Talent First Network %C Ottawa %V 7 %P 25-37 %8 06/2017 %G eng %U http://timreview.ca/article/1082 %N 6 %1 Gnowit Inc. Andrew Droll is Lead Data Scientist at Gnowit in Ottawa, Canada. Andrew holds PhD and MSc degrees in pure mathematics from Queen’s University in Kingston, Canada, and he holds a BSc degree in Mathematics and Physics from Carleton University in Ottawa, Canada. His peer-reviewed publications span the fields of physics, mathematics, and computer science. Currently, Andrew works on development and management of Gnowit’s research and engineering projects. %2 Gnowit Inc. Shahzad Khan is the CTO of Gnowit Inc. in Ottawa, Canada, that provides personalized, real-time web intelligence for individuals and corporations. The firm employs artificial intelligence to automatically gather data from fragmented web sources in near-real-time and filter the data using human-like synthetic cognitive methods to provide highly curated intelligence to their clients. He has a PhD in Computer Science from the University of Cambridge, United Kingdom, an MSc in Information Studies from Syracuse University in New York, USA, and a BSc (Hons) in Computer Science from the Lahore University of Management Science (LUMS) in Lahore, Pakistan. His research interests lie in semantic analysis on big data repositories using natural language processing and machine learning at scale. %3 University of Southern Denmark Ehsan Ekhlas is a student and entrepreneur completing studies in Technology Entrepreneurship and Business Innovation at the University of Southern Denmark. Ehsan is also Founder & CEO of Mimac IVS, a company focused on fashion accessories for Apple products. In his research, Ehsan uses technological and big data tools to try to discover insights about how people do work in the real world. %4 Southern Denmark University Stoyan Tanev is an Associate Professor in the Department of Technology and Innovation, Faculty of Engineering, Southern Denmark University (SDU) in Odense. Dr. Tanev is leading the Technology Entrepreneurship stream of the Master Program of Product Development and Innovation at SDU. He is also an Adjunct Research Professor in the Sprott School of Business at Carleton University in Ottawa, Canada, where he is associated with the Technology Innovation Management Program. He has a MSc and a PhD in Physics jointly from the University Pierre and Marie Curie, Paris, France, and the University of Sofia, Bulgaria, a PhD in Theology from the University of Sofia, Bulgaria, an MEng in Technology Innovation Management from Carleton University, Canada, and an MA from the University of Sherbrooke, Canada. He has multidisciplinary research interests with a focus on the fields of global technology entrepreneurship, technology innovation management, business model design, and value co-creation. Dr. Tanev is Senior IEEE member, as well as member of the editorial boards of the Technology Innovation Management Review, the International Journal of Actor-Network Theory, and Technological Innovation. %R http://doi.org/10.22215/timreview/1082