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.”
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.
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