Vectara’s GenAI platform helps investors and private wealth advisers to sift through noisy data and delivers diverse and personalized insights to investors.
— Stuart Frith, Founder of MyWealthAI
PALO ALTO, CA, UNITED STATES OF AMERICA, February 29, 2024 /EINPresswire.com/ — Vectara, the Trusted Generative AI Product Platform, and XTF (the company behind MyWealthAI, have entered into a commercial agreement to unlock the power of Generative AI in wealth management in a highly scalable and secure way. MyWealthAI was created to make researching stock market investments interesting, providing retail investors with valuable and engaging insights into each person’s stocks of interest. There is a sea of data for investors to wade through to select stocks to invest in, MyWealthAI uses the power of generative AI to extract important insights from this sea of data and present them to investors in the language and level that appeals to each investor.
Given the complexity of stock market data, and the criticality of accuracy, Vectara was the clear choice for the core content and answer engine of the service.
Investing in ASX companies is content-heavy, and doing it well is very time-consuming. The nuggets of insight in Company Announcements are buried in a sea of legalese and often irrelevant content or are only apparent when consolidating many announcements over time. Hence, much of the insight listed companies are legally required to publish is not well utilized or understood by the average investor. Generative AI brings a wealth of promise to understanding and curating this sea of content into a valuable resource for retail investors, however many of the firms that service these investors don’t have access to AI and machine learning expertise. Even when they do, they often have to chain together multiple solutions to make even a simple question/answer system.
Retail investors and their brokers and advisers want a “personalized newspaper-type” experience with accurate facts over the stocks of interest, in an easily digestible social-like feed for investment.
To create this investor experience at scale, MyWealthAI needed the proven data pipeline, vector database and validation tools provided by Vectara. Using Vectara we can provide the best possible relevancy in a competitive market.
“Generative AI will be enormously transformational for retail financial services, enabling greater personalization and efficiencies for the direct investor and those that are advised,” commented Stuart Frith, Founder of MyWealthAI. “Working with Vectrara and our industry partners, we’re able to see the exciting real-world examples of this – Stay tuned!”
Frith continued, “MyWealthAI is working with six market participants and investors to refine our solution before launch. Vectara is used to generate personalized investor insight feeds for our initial four persona types, adjusting content for tone and language. Using Vectara’s metadata capabilities, we’re able to prioritize generating time-sensitive insights and allow for curating further prioritized content into the feed.”
MyWealthAI plans to provide the service publicly and to brokers with a deeper level of control and tuning. As users use the platform, the Vectara model becomes more predictive, and over time, users not only retrieve accurate content but also receive better predictive content. Beyond the trial, XTF aims to deliver persona-based investment systems to a multitude of users that account for tone, recency, and level of understanding, ultimately making financial decision-making more sound.
“We are thrilled to be part of MyWealthAI’s success story. MyWealthAI has achieved true innovation in wealth management with its cutting-edge technology and profound industry expertise”, said Nidal Zoghbi, Vectara’s Head of Sales, APAC and Middle East. “Vectara’s GenAI platform will empower MyWealthAI to provide its customers with highly accurate and reliable financial insights. We look forward to co-creating value with the leadership team at MyWealthAI,” Mr Zoghbi added.
About Vectara
Vectara is an end-to-end platform that empowers product builders to embed powerful Generative AI features into their applications with extraordinary results. Built on a solid hybrid search core, Vectara delivers the shortest path to an answer or action through a safe, secure, and trusted entry point. Vectara is built for product managers and developers with an easily leveraged API that gives full access to the platform’s powerful features. Vectara’s Retrieval Augmented Generation (RAG) allows businesses to quickly, safely, and affordably integrate best-in-class conversational AI and question-answering into their application. Vectara never trains its models on customer data, allowing businesses to embed generative AI capabilities without the risk of data or privacy violations. To learn more about Vectara, visit www.vectara.com.
About XTF
XTF Pty Ltd has been founded to bring the power of Generative AI to Australian retail investors and the intermediaries who service them.
Carly Bourne
Vectara
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Originally published at https://www.einpresswire.com/article/688124936/mywealthai-leverages-vectara-to-build-personalized-content-feeds-for-asx-stock-market-investors
