April 24, 2023
By Anjali Kochhar
A digital asset platform, which is one of the largest in Asia, is set to introduce an AI trader bot by the end of this month. As the financial industry rapidly embraces this cutting-edge technology, OSL, a subsidiary of Hong Kong-based BC Group, which is supported by US investment firm Fidelity, has revealed that the new AI features will automate different functions of OSL’s trading services, such as support, quotations, and trading.
The company clarified that its bot prototype will use a combination of machine learning algorithms and an AI language model to analyze news, historical user data, and market sentiment. This analysis will be used to provide users with information on trades that they would likely be interested in.
“It’s not a new concept to model or predict the next most likely action of a trader, but it’s become so cheap and accessible thanks to modern AI tools,” Hugh Madden, CEO of OSL and BC Group told to The South China Morning Post.
“The language bot will be faster, more seamless, and far more understanding of an individual user’s personal situation and preferences,” he added.
OSL was the pioneer digital asset platform to receive a license from the Hong Kong Securities and Futures Commission. It offers brokerage, custody, exchange, and SaaS services to institutional clients and professional investors. While it also operates in other regions such as Singapore and the US, Madden referred to Hong Kong as its emerging “AI hub.”
Additionally, the company has a technology center in Australia, where it developed a ChatGPT prototype for OSL.
They obtained early access to the renowned chatbot created by OpenAI, and the prototype enables digital asset blockchain transactions and trade execution to occur automatically through ChatGPT.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.