AiX completes first AI-brokered trade

AiX completes first AI-brokered trade
07.06.2018 11:56 am

AiX completes first AI-brokered trade

Artificial Intelligence

AiX, the artificial intelligence broker, announces today that it has completed the first ever trade brokered by an AI powered chatbot.

The trade is the first of its kind to use AI technology instead of the traditional human brokerage model, completing a successful cryptocurrency transaction between Rockwell Capital Management and TLDR Capital.

Jos Evans, founder and CEO of AiX, said: "This trade is a milestone in AI innovation coming to the forefront of financial services. The potential for AI to revolutionise and benefit the sector is huge and we are proud to be a part of pushing this change forward.

Enabling AI technology to disrupt the inter dealer brokerage will make trading more efficient, transparent and cheaper for professionals and over time this will trickle down to deliver savings for investors everywhere.”

The AiX broker executes trades through emulating human decision-making and natural language to handle thousands of conversations simultaneously, both with traders and systems. AiX communicates with multiple traders for the best price, allows for tailored bidding, and feeds real time information when conditions fluctuate, all in a fraction of the time it would take when dealing with traditional brokers. 

Informed by machine learning, the technology autonomously discovers the best and most relevant deals for traders and over time will anticipate decision making. The trade recording feature provides a complete, auditable record of the data and decisions used to facilitate the trade, enhancing transparency in the industry.

Jon Knipper, partner at TLDR Capital, added: "This is a historic moment for market making. Not only for crypto assets, but with the potential to change traditional equity and fixed income markets. The way that AiX has integrated AI into the trading process at this level vastly simplifies the work of the investor and helps us save on the bottom line."

“AiX represents a key step in exploring the use of AI in cryptocurrency trading,” said Brian Sewell, chief investment officer at Rockwell Capital Management. “The chatbot exemplifies how AI can help make the cryptocurrency markets more efficient.”

Concurrently to this first AI brokered trade, AiX today announced that it is currently finalising its series A investment round.
Further information:
• A complete regulatory audit trail of every trade will be immutably written onto the blockchain in the form of an Evidence Tree.
• AiX's artificial intelligence engine is powered by Rainbird, the first auditable cognitive reasoning engine.
• With AiX, an AI-powered engine will promote greater efficiency and democratisation in the financial markets.

Related News

AI can outperform human credit decisions by 2024 - survey

Artificial intelligence (AI) will produce more accurate, reliable and transparent credit decisions than human-based systems within five years, according to capital markets... Read more »

How Are Insurance Carriers Leveraging AI to Create Superior Customer Experiences?

Senior insurance executives to explore the AI-enabled personalization of insurance products to increase customer loyalty.

Read more »

Xilinx Technology to Power Baidu Brain Edge AI Applications

Xilinx (NASDAQ: XLNX), the leader in adaptive and intelligent computing,... Read more »

Tieto and Skellefteå municipality test facial recognition in a high school in Sweden

How can AI and new technologies reduce teachers' administrative tasks in the classroom? In a unique pilot project Nordic software and services company Tieto and... Read more »

Planbox Acquires Imaginatik Creating an Agile Innovation Powerhouse

Planbox, the pioneering provider of AI-Powered Agile Innovation Management software, and Imaginatik, the #1 ranked leader in Corporate Innovation Management according to... Read more »

Insurer CEOs Reveal Marketing Strategies that Communicate the True Value of Insurance Products & Services to the Customer

The game has changed. Agile start-ups, and truly innovative insurers have proved that the customer is responding to products and services that match their lifestyle choices and... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App