Artificial intelligence technology is slowly being embraces by businesses that offer investment and wealth management services, according to an article by China Daily.
InnoTREE Co. Ltd. launched a new line of service last Tuesday, April 12, that harnesses robots to provide equity investment advice.
"The robot could first establish a database, which covers the investment and financing information of more than 130,000 startups, and then track and analyze the daily operation situation of these startups or their projects," said Ma Chao, founder of the Internet-based investment and equity financing provider.
In addition, the robot will analyze, categorize and evaluate business models of various projects to effectively give out sound advice.
"The workload of a robot each minute is equivalent to the workload of an experienced analyst working for 40 hours," shared Teng Fang, InnoTREE Co. Ltd.'s co-founder. "Its cognition level is same as an investment manager with three to four years of investment experience."
InnoTREE is the first business to apply AI technology in the equity investment market, and other businesses are interested in exploring its huge development potential.
"AI technology will make the equity market more effective and efficient," said Yi Jigang, president of Beijing-based equity firm Orient Jiyi Investment, in an interview with China Daily.
"AI technology won't shock the investment industry but promote it," Yi said. "People could make use of the technological advancements to devote more time and energy to do other higher-level business, and improve working efficiency and value by virtue of advanced machine tools."
Artificial intelligence can also help professionals calculate investment risk and even predict investment yield, allowing them to offer customized financial advice, said Dong Jun, the company's CEO.
"AI technology could only play an auxiliary role in the equity investment market as a huge pool of fake information exists in the market and the machine couldn't identify its authenticity," said Yang Fan, a researcher from Analysys International.
Last but not the least, AI technology can help humans pursue other interests, creative or otherwise, although high-risk equity investment should still be assessed by humans.