What if there was a solution that would lead to a more transparent market without the need for regulations, simply by using the available information that there is out there. Would that be an industry gamechanger? We think it would and this is why, Wondeur, is amongst this year’s nominees for the Digital Innovation in Art Award!
How can one can understand value creation and biases that are perceived as inherent to the art world? It is exactly those dynamics that Wonder aim to research and address. Co-founders Olivier Berger and Sophie Perceval have envisioned a valuable tool for collectors, investors, insurers, financial planners, estates, and museums, impacting both the commercial and non-profit sectors. Their technology verifies millions of art world facts in real-time, leading to a more accurate and highly informed picture of the art world. This does not solely rely on auction results, but also things such as non-transactional art market signals.
“Wondeur is based in Toronto, the birthplace of the recent breakthrough in AI and graph and network theory. Its technology currently helps leading insurers, wealth management firms in the US and Europe to explain and predict why and when Trillions dollars of art assets change in value and to monitor the effect of systemic biases toward specific artist communities.”
-Olivier Berger and Sophie Perceval, co-founders, Wondeur
Their work is pertinent in a market that is often called opaque, and for good reason. When information is an incredibly powerful tool, we are not surprised to see this kind of service blossom in the nearest future. With technology continually improving and evolving, we believe that this sort of data processing will become a vital player in the art world economy. Analyzing data is time-consuming, and time is one of the scarcest resources in today’s world. While they cannot reveal who they are working for – for good confidentiality reasons – we simply can’t wait to see where this venture will take them, and how it will impact the art market overall. Can we just say – long live to innovation?