Selecting investments using artificial intelligence - Globes English

Most fintech companies offer better interfaces for handling money (bank accounts, loans, payments, etc.), but quite a few startups are also offering a solution for a much older need than how to make money. Israel company I Know First, managed by CEO Yaron Golgher, is one of these. The company's main product is an algorithm that provides a forecast for three thousand different investment instruments, including shares, commodities, interest rates, foreign currency, exchange traded funds (ETFs), and global indices. "The algorithm rates all the investment instruments, and singles out investment opportunities in the capital market on a daily basis, according to the pricing anomaly it finds," Golgher says in a "Globes" interview. Golgher: "The algorithm is self-learning. It is based on purely quantitative values, not reading news or any kind of analysis. There is no human factor here. The algorithm uses artificial intelligence, an area in which huge companies like Apple Computers, Google, and Facebook have recently been making massive investments. The algorithm was developed by our development team, headed by cofounder and CTO Dr. Lipa Roitman. Roitman is a scientist from the Weizmann Institute of Science with over 20 years of experience in the specific field of artificial intelligence, machine learning, and algorithms. The forecast is given for a period of time. What is interesting is that for every forecast, the algorithm also assigns a probability that the forecast will be fulfilled. Every customer can receive a forecast according to his investment preferences. For example, a person investing in technology shares can receive the best opportunities in this segment, a customer investing in commodities will receive the best opportunities in the commodities market, etc." "We have expanded this year to 12 new countries, including the US and Europe, with an emphasis on Italy and France, and Russia, too. We work with Latin America, especially Brazil. The business model is based on access to the algorithm to a varying extent, according to the customer's size."