iFi AI, a new venture which launched Wednesday and led by CEO Ron Insana, a CNBC senior analyst and commentator, aims to revolutionize the way individual traders make investment decisions by leveraging artificial intelligence (AI).
“It’s a big assist when you’re looking at making a decision on whether or not you want to buy a stock, and you get a forecasted rate of return that says it’s going to be up 3% in the next month,” Insana told CNBC. “There’s some comfort around the decision-making process, knowing also that there’s more data going into our forecast than any human can ingest in a given day.”
Powered by IBM’s watsonx, iFi AI will analyze a variety of data, including fundamental news and technical analysis, to forecast stock returns over different periods. While the technology has already assisted in managing $6 billion of institutional funds, iFi AI is designed with self-directed traders in mind, offering several subscription levels. A premium tier will also cater to financial advisors, providing advanced portfolio tools. Insana emphasizes that iFi AI’s dynamic approach sets it apart from traditional quantitative strategies used in hedge funds, marking a new era in finance technology.
“The difference between quantitative analysis and AI-driven analysis is that AI learns and continues to learn and teach itself,” Insana said.
