iFi AI will try to crack the code of integrating artificial intelligence and investing, and it will be mostly focused on helping individual traders make buy and sell decisions.The new company will face competition from other AI-related startups and Wall Street giants in trying to marry the new technology with trading.
The firm, called iFi AI, launches Wednesday. The company will use AI models to help generate projected returns for stocks over various time periods, according to Ron Insana, iFi AI CEO and CNBC senior analyst and commentator. There will be multiple levels and price points for iFi AI, with most aimed at self-directed traders and a top tier, with broader portfolio tools, built for financial advisors, according to Insana.
Using high technology in finance was common well before the latest wave of AI, but Insana said the new programs are more dynamic than the types of quantitative strategies that have long been used in hedge funds.