Few things illicit excitement like the mention of AI. It’s everywhere right now. Microsoft is unleashing an aggressive advertising campaign touting its “amplification of human ingenuity,” and IBM’s Watson continually achieves new human-like feats.
AI is even transcending the technology space. Robin Sloan, a California-based author, is using the technology to help him write a novel, which shows, as The New York Times notes, “it is quickly clear that programming is on the verge of redefining creativity.”
That’s the fundamental premise of artificial intelligence. It can replicate human thought and address their tangible needs, not supplanting human ingenuity but enhancing it. In short, AI is a more human-like approach to computing that can be more applicable to people’s actual lives.
Therefore, it’s no surprise that AI capabilities are being applied to financial planning and asset management, an area where the demand for personalized advice and bonified investment intelligence is far outstripping the number of people who can practically provide those services.
This is especially true in the burgeoning crypto market where millions of investors have poured into the new investment space, eager to invest their money but lacking the knowledge to adequately allocate and differentiate their finances. With few experts to assist in these decisions, companies like TrustVerse, VectorSpace, and Elpis, bring AI-powered crypto investment services to market.
Managing Risk & Mitigating Losses
Although cryptocurrencies are most known because of Bitcoin, thousands of other currencies comprise this ecosystem. Taken together, they represent a compressive investment ecosystem that requires knowledge and intentionality to effectively navigate.
What’s more, despite their recent stability, cryptocurrencies remain an unusually volatile investment, prone to wild, unexplained price swings that aren’t typically experienced by other assets. This just underscores the importance of diversification.
TrustVerse, a comprehensive investment management platform that handles crypto as well as other financial assets, deploys AI to help its customers achieve a holistic investment strategy. By combining AI and the blockchain, two technologies on a tandem ascent, TrustVerse optimizes customer portfolios, making specific recommendations that are relevant for the user’s lifespan and beyond.
In comments on the emerging class of AI asset management platforms, Michael Tsang, formal managing director at Alibaba Group Americas and Microsoft HQ in Seattle, described TrustVerse as “the most advanced and profitable investment information construction service with one click.”
Elpis, Switzerland-based artificial intelligence platform, is likewise harnessing the power of AI to equip investors with the knowledge and technology necessary to pursue crypto and traditional assets in a single portfolio.
Meanwhile, other companies including VectorSpace are bucketing crypto products that contain different assets to mitigate exposure to market volatility. Using AI to determine the most appropriate investments based on the user’s comfort with volatility, long-term investment goals, and other factors, VectorSpace is using the best technology to create complete investment strategies in a unique financial market.
It’s a diverse market that is similarly applying artificial intelligence to create compelling platforms that meet customers’ unique needs. Their timing couldn’t be better. There is a profound shortage in the number of people able to provide in-person advice, and AI is effectively bridging the gap.
Leveraging Resources
Just as there is tremendous demand for blockchain professionals, there are fourteen open jobs for every qualified candidate, there is a shortage of financial advisers who can provide reliable insight into crypto investments.
While traditional financial institutions offer low-cost or even free financial planning services for their customers, they do not cover cryptocurrencies. In contrast, there are a growing number of institutions that provide crypto-only investment advice that can help people navigate the crypto ecosystem, but it doesn’t account for a holistic approach to wealth management.
AI can bridge that divide, building and managing comprehensive portfolios that account for the nuance and peculiarities of an individual’s investment ambitions.
Companies like TrustVerse are counting on customers integrating crypto assets into their lifetime portfolios, and they are accounting for the inevitable transition of these assets from generation to generation, something that would never be possible without the help of AI.
Indeed, there is hardly an industry that AI doesn’t impact in a significant way, and the crypto investment landscape is ripe for enhancement. As companies provide increasingly capable platforms for asset management and allocation, users will benefit from a strategic and holistic approach to financial success. Much like Robin Sloan’s AI-written novel, this is a story that’s still in progress, and it’s moving forward every day.