NZ-headquartered fintech Sharesies partners with Telescope AI to launch AI-powered discovery tool for investors

NZ-headquartered fintech Sharesies partners with Telescope AI to launch AI-powered discovery tool for investors

Wealth app Sharesies has launched AI Search – an AI-powered discovery tool designed to help its 670,000+ investors across Australia and New Zealand find investment options and gain insights around industries of interest.

Investors can search for anything they’re interested in, from ‘renewable energy’ or ‘companies leading in tech’, to ‘space tourism’ and ‘vertical farming’, and AI Search will create a list of stocks available on Sharesies across Australian, NZ and US markets, alongside helpful context, trends and insights around the topic.

The discovery tool is intended to help new investors explore investment opportunities in industries or subject areas that align with their values, and be a useful education resource for people getting started in investing as well as help established investors diversify their portfolio.

Brendan Doggett, Sharesies’ Country Manager for Australia, emphasised the potential for AI to democratise investing, “AI offers a powerful opportunity to make investing easy and accessible, which is a large part of Sharesies’ mission to create financial empowerment for everyone. With over 8,000 companies and funds available on our platform, finding the right investment can be overwhelming. AI Search promises to help our investors find stocks that match their interests and values, and makes it easier for them to put their money behind the companies and concepts that matter to them most.”

The technology is powered by Telescope AI, an Australian startup specialising in generative AI for capital markets. AI Search integrates Telescope AI’s technology into the Sharesies platform, helping users discover stocks with ease.

Luc Pettett, Founder of Telescope AI, stated, “During testing, we’re discovering that investors are searching all sorts of interesting ideas. Previously, investors would just refer to a search engine. Now, they are able to explore unique investment themes and find relevant stocks, all within the Sharesies platform.”

The integration of Telescope AI’s technology into the Sharesies platform marks a significant step in applying artificial intelligence to personal finance and wealth management. AI Search serves as an educational resource for new investors and assists experienced investors in diversifying their portfolios based on their values and interests.

Initially, AI Search will be available to Sharesies’ Australian investors free of charge, with plans to extend the feature to all of its investors, including those in New Zealand, in the near future.

As with all AI-powered tools, ensuring ethical and regulatory compliance is crucial. Telescope AI has implemented robust monitoring and testing processes to maintain the integrity of AI Search’s outputs. Pettett emphasised, “We have a continuous feedback loop in place to monitor the effectiveness of our guardrails and the rationality of AI Search’s responses. This involves both human and AI monitoring to identify any inaccuracies or potential issues. We are committed to providing investors with a reliable and trustworthy tool that operates within ethical boundaries.”