NEW YORK, Feb. 21, 2023 (GLOBE NEWSWIRE) — GoLogiq, Inc. (OTC: GOLQ), a U.S.-based global provider of fintech and consumer data analytics, announced that Nest Egg Investments has completed the integration of GPT-3 Artificial Intelligence (AI) technology into its consumer investing platform and mobile app.
GoLogiq and Nest Egg recently signed a definitive mutual share exchange agreement in all-stock merger transaction valued at $30 million. Nest Egg brings to GoLogiq a streamlined mobile solution for discovering, planning, and automating retirement savings. The solution includes investment products and services to be offered by Nest Egg’s subsidiary and FINRA licensed broker dealer, BeyondTrade Securities (pending name change to Nest Egg Securities).
The AI-powered Nest Egg app, launching soon on www.nestegg.app, will offer customers a number of valuable features and benefits:
- Creates automated retirement savings accounts, helping consumers invest their IRA holdings for greater long-term returns. The app uses AI to intelligently recommend investments based on risk levels, and consumers will receive an investment portfolio based on their preferences.
- Enables smarter investing and trading by leveraging GPT-3 AI technology to generate portfolio research based on consumer preferences and market trends. The AI will generate large quantities of relevant research from multiple sources based on similar investment profiles, institutional baskets of stocks, and by leveraging data from like-minded investors and investment managers.
- Differentiated from other platforms by being the first to offer direct-to-consumer retirement investment accounts using a white-labeled portfolio generator. While most IRAs are tied to banks, Nest Egg connects directly with consumers using the same technology but without the filtering through large institutions.
Trent McKendrick, founder of Nest Egg, commented: “While many companies are offering stock and derivatives trading bots, we are instead building research tools that help investors select their investment and savings journeys by using AI to produce institutional-level intelligence and insights. This feature will be available for all Nest Egg users as part of the premium subscriptions offered.”
McKendrick believes that AI has the potential to revolutionize education in the financial services sector in several ways:
- Personalized Investing: AI can analyze individual customers’ investment goals and provide personalized portfolio configuration, helping them customize their investing and savings plan.
- Automated tracking and feedback: AI algorithms can track investments and provide feedback to customers in real-time, making the platform more efficient and allowing customers to explore and research at their own pace.
- Interactive virtual helpers: AI-powered virtual helpers can interact with customers and provide personalized feedback, making research more engaging and effective.
- Improved accessibility: AI-powered technologies can make investing education more accessible to customers with disabilities, helping to bridge the digital divide.
- Enhanced research: AI can assist more sophisticated investors in analyzing large datasets, making it easier to identify patterns and draw insights that can inform their saving and investing strategies.
Added McKendrick: “Overall, AI has the potential to improve the efficiency and effectiveness of investing while also making it more accessible and engaging for Nest Egg customers.”
Nest Egg is currently beta testing a number of AI-powered features:
- Access an AI-powered team of researchers with one click: Designed to cut time and cost of research by using the Nest Egg proprietary data request system. Will activate data requests at different levels of abstraction, from a single data point or query to a collection of topics or deep information on an entity, topic or trend.
- Automatically maintain research knowledge: Includes replacing stale spreadsheets of data by using Nest Egg in app lists. The AI will skip the maintenance headache by tapping into Nest Egg’s canonical information to power user fields with the privacy and flexibility of running custom fields, and live alerts to ensure research is up to date.
- Turbocharging decision making and markets data with Nest Egg: By leveraging powerful AI, users stay informed as soon as new knowledge is discovered. The AI will enrich a user’s trading knowledge without manual search or data entry.
By leveraging GTP-3 and other proprietary data sources, Nest Egg’s AI-powered stock, ETF and bond research tool will enable IRAs to be smarter with more up to date information.
As a combined company, GoLogiq and Nest Egg plan to focus initially on the high-growth market of wealth management for Generation Z and Millennials. This new generation of wealth-builders represents the sharing economy that will be powered by digital banking solutions, such as virtual payments, lending, and loyalty programs.
The collective wealth of Millennials and Gen Zs reportedly jumped 25% last year—much higher than for Gen Xs and Baby Boomers—and their aggregate assets grew from $2.9 trillion to $3.6 trillion. Bain & Company projects the wealth management market to double in size and exceed $500 billion by 2030.
Brent Suen, interim CEO of GoLogiq commented: “GoLogiq has utilized AI and machine learning for nearly 10 years. In 2014 our CTO, Thet Twe Aung, and CPO, Eddie Foong, utilized Natural Language Processing to develop a keyboard that automatically converts English words to other Asian languages, with the aim of promoting communication in those languages for those unfamiliar with typing on an Asian language character keyboard. The process encompassed word tagging, disambiguation of word senses, sentiment analysis, and natural language generation.”
When GoLogiq was part of its former parent company, Logiq, it had also integrated AI into its digital marketing and advertising platforms that were used on client cross border projects.
“Given our history, we believe it is a natural extension for us to acquire Nest Egg with their AI-powered investing platform geared towards Gen Z and Millennials,” added Suen. “We see Nest Egg’s integration of GPT-3 AI technology for easier and smarter research of stocks, mutual funds and ETFs as truly revolutionary.”
About GoLogiq
GoLogiq Inc. is a US-based global provider of fintech and mobile solutions for digital transformation and consumer data analytics. Its software platforms are comprised of CreateApp, a mobile app development and publishing platform for small-to-medium sized businesses; AtozGo™, a ‘hyper-local’ app-based delivery platform; AtozPay™, an eWallet for mobile top-up, e-commerce purchases, bill payment and microfinance; and Radix™, a Big Data analytics platform. Visit the company at gologiq.com or follow on twitter: $GOLQ and @gologiq.
GoLogiq Safe Harbor Statement
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This press release also contains forward‐looking statements and forward‐looking information within the meaning of United States securities legislation that relate to GoLogiq’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this press release should not be unduly relied upon.
These statements speak only as of the date of this press release. Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond GoLogiq’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. In particular and without limitation, this press release contains forward‐looking statements regarding our products and services (including Nest Egg’s pre-launch product offerings), the use and/or ongoing demand for our products and services, expectations regarding our revenue and the revenue generation potential of our products and services, our partnerships and strategic alliances, the impact of global pandemics (including COVID-19) on the demand for our products and services, industry trends, overall market growth rates, our growth strategies, the continued growth of the addressable markets for our products and solutions, our business plans and strategies, our ability to apply to and meet the listing standards and approvals for Nasdaq, NYSE, or other senior exchange, our ability to successfully locate and consummate any contemplated strategic transactions, our ability to successfully complete a merger or acquisition with GammaRey, Nest Egg Investments, or other entity, any approval of the merger or acquisition with Nest Egg Investments or other entity by the Financial Industry Regulatory Authority (FINRA), any regulatory approval required of Nest Egg Investment’s subsidiary BeyondTrade Securities, Inc.’s pending name change to Nest Egg Securities, Inc., the structure of any such transaction, timing of such transaction, and the valuation of the businesses after completion of any such transaction, if any, and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC) including its Annual Report on Form 10-K and any subsequent public filings. The GammaRey and Nest Egg Investment transactions discussed herein are subject to mutual deliveries and other closing conditions, and neither transaction has closed as of the date of this press release. In addition, we have not been approved for listing by any senior exchange, and our approval is conditional on meeting all exchange listing requirements and final approval by the exchange itself.
GoLogiq undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for GoLogiq to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
GoLogiq Contact:
Brent Suen
Interim CEO
GoLogiq, Inc.
Email Contact
GoLogiq Investor Relations:
Ron Both
CMA Investor Relations
Tel (949) 432-7566
Email contact
GoLogiq Media & ESG Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email contact
