The AI revolution has come in at full speed as of late. In the last several years, its capabilities have broadened exceptionally to include coding software, writing full articles and marketing copy, and even creating realistic drawings and images in just a few seconds. The financial industry is no different, with AI making it easier than ever for amateur investors to throw their hat in the game. From setting up investment accounts on autopilot to obtaining investment recommendations based on machine-learning algorithms, here are some of the key ways AI is changing the investment game.
Automated Investment Accounts
Banks and FinTech companies across North America and beyond have started offering clients a simpler way to invest in recent years. Automated investment accounts take authorized withdrawals from client accounts and spread the funds out across multiple investments, creating a diverse portfolio on behalf of the client. When signing up for these accounts, most clients have the opportunity to determine the level of risk they're willing to take with their funds (higher risk=higher returns) and how much they'd like to invest each month.
Automated accounts utilize machine learning algorithms to create insights from data faster than traditional stock brokers can and automatically buy and sell stocks using predictions based on the most up-to-date information.
AI Investment Advice
Those who don't want to automate their investments can still capitalize on the capabilities of AI machine learning models. Utilizing the data collected by AIs, banks, brokers and investment advisors can gather information faster than ever to provide investors with unique investment opportunities and personalized investment advice.