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TLDR:
- OCBC has introduced a stock picker tool called A.I. Oscar that predicts stock buys based on a user’s risk appetite.
- The AI platform is trained on data from stock exchanges in Singapore, Hong Kong, and the US.
Key Elements of the Article:
OCBC has launched a new AI tool called A.I. Oscar that helps identify stock buys based on a user’s risk appetite. The platform is trained on data from stock exchanges in Singapore, Hong Kong, and the US, making it a comprehensive stock picker tool. OCBC Securities, the brokerage subsidiary of Singapore bank OCBC, has trained the AI engine on data from 4,000 stocks listed on various exchanges, spanning over 10 years’ worth of stock fundamentals, macroeconomic factors, and technical indicators.
The AI tool, A.I. Oscar, can predict stock price movements and generate stock picks based on the user’s personal risk profile and trading patterns. It analyzes data on the investor’s past trading activities and demographic information to provide a curated list of 15 stocks each week. This personalized service allows investors to filter stocks that align with their trading preferences and criteria.
A.I. Oscar has been designed to cater to digitally savvy young investors who prefer the self-service model. The AI platform is accessible as a free service for OCBC Securities’ customers via the iOCBC mobile app, online trading platform, and email. By leveraging AI technology, OCBC aims to triple the number of active customers aged under 35 over the next three years.
The AI platform, powered by deep learning algorithms and neural network models, has shown promising results during the initial pilot phase. Trading activities among investors aged under 35 increased by 50% during the pilot, compared to the months before the trial. This indicates the potential of AI technology in transforming the way individuals engage with stock trading and investment activities.
According to OCBC Securities’ managing director Wilson, A.I. Oscar addresses the challenge of distilling relevant information into actionable trading ideas quickly, especially in today’s fast-paced world. The platform’s ability to generate stock ideas also serves as a starting point for discussions between the bank’s trading agents and customers.
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