AI has driven a stock market hype, with Bridgewise's chatbot set to launch, offering algorithm-based stock-picking advice but no autonomous financial decisions yet.
Discount Bank EVP Asaf Pasternak noted, 'Two-thirds of people trust an algorithm more than a human to manage their money, and 98 percent want digital recommendations monthly'.
The chatbot uses three models: two for data mining and user interaction, and one for stock ratings, aiming to provide insights into specific firms and market conditions.
Bridgewise plans future enhancements for its chatbot, including annual forecasts and complete investment portfolios, but its initial offerings are limited to stock recommendations.
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