Chinese online brokerage firm Tiger Brokers is testing a trade bot powered by generative artificial intelligence (AI) for bond and stock trading, reported South China Morning Post.
The trade bot, which is based on the same technology that drives OpenAI’s ChatGPT, aims to test if technology can replace people in stocks trading.
In an interview with the publication, Tiger Brokers head of global communications Jacques Li said: “We are keeping a close eye on AI and industry advancement since November last year.”
Called TigerGPT, the AI service is available only to a small user group as an invite-only beta.
Like other bots that have emerged recently, TigerGPT also generates responses to prompts but it is focused on financial services.
Tiger Brokers is owned by Up Fintech and backed by the likes of Xiaomi. It is said to have two million account holders and nine million users.
The project was started in January, and TigerGPT ultimately launched this month.
With the launch, Tiger Brokers has become the first business to integrate ChatGPT-like services into an online brokerage platform.
TigerGPT, according to Li, can assist consumers to shorten the time spent on market research and obtain more up-to-date data.
It can also provide business fundamentals based on earnings reports as well as outside assessments for a more comprehensive picture.
The chatbot can analyse macroeconomic trends and current developments, such as how frequently the US Federal Reserve has hiked interest rates this year.
TigerGPT leverages the Generative Pre-Trained Transformer (GPT) models from OpenAI’s large language models (LLMs).
Commenting on the regulatory concerns surrounding AI, Li said Tiger Brokers has been in contact with regulators across the globe since the project’s inception to alleviate their concerns, including those in Hong Kong.
“AI, among other technologies, should be subject to rigorous regulation,” he added. “In Hong Kong, we are trying to make sure this feature is under their guidance and in full compliance.”
