Mind the Tech London 2024"AI technology developed by TipRanks summarizes investment risks for you"
Mind the Tech London 2024
"AI technology developed by TipRanks summarizes investment risks for you"
According to Uri Gruenbaum, Co-Founder and CEO of TipRanks, speaking at Calcalist and Bank Leumi's Mind the Tech London conference, "If you don't want to read 40 pages, TipRanks consolidates all the information from the web for you into three points"
Uri Gruenbaum
(Photo: Alex Kolomoyski)
Uri Gruenbaum, Co-Founder and CEO of TipRanks, participated in Calcalist and Bank Leumi's Mind the Tech London conference. According to him: "A decade ago we decided to bridge the gap between private and institutional investors using available information. The service has become very popular with millions of customers. Today AI creates an opportunity to further expand the market. In the past, only institutional investors had access to information that the general public only dreamed of.
"If you were a public investor, you would be left with general information and a lot of social networks that tell you what to buy and what to sell. AI changes that; you can produce in-depth analysis, or you can create a hedge fund with smart strategies. Unfortunately, in practice, it's not yet simple enough for a regular person to do it. We believe that platforms like TipRanks will flourish in the future and investors will connect with them."
According to Gruenbaum: "If you're an institutional investor, you get information from banks and that doesn't always happen. At TipRanks, you can ask the system to produce a conservative or more daring analysis. And, if you don't want to read 40 pages, TipRanks consolidates all the information from the web for you into three points, such as reasons why to invest or why to avoid investing. I'm sure most of us don't read the full company reports and especially not the risk factors where the management's concerns are detailed.
"TipRanks, using AI, summarizes the risks and does so with visual clarity. However, there is still a large gap between the information received by institutional and private investors. Institutional investors also have the ability to call the CFO of the company and ask them questions. But today there are also non-conventional sources of information such as satellite photos that show the functioning of supply chains. There is also a way to know how many people have downloaded a particular company's app. TipRanks is hard at work developing these unique databases.
"In conclusion, the future of investments in the AI era is greater personalization and higher efficiency. In the future, the question will be who knows how to ask the best and correct questions and not who has more information."
Watch his full remarks in the video above.
First published: 13:12, 19.09.24
