07 March 2022 Mutual-funds

StockEdge Aims To Ease Out Investment Experience Using AI And Machine Learning

OLM Desk

With aim to ease the investment process and better understand the same, StockEdge, a Kolkata-based fintech start-up, plans to launch services that will use artificial intelligence to provide an enhanced stock investment experience to customers. Their focus is to help the users connect and consume various forms of content like video, analysis tool, learning tool, etc., produced by them to understand the investment better.

StockEdge is an online research and analytics platform that provides users with the proper learning and impactful data analytics to help them make independent investment decisions.

The Indian stock market has been witnessing an all-time boom since the pandemic. An increasing trend can be seen in the openness of Indian citizens in investing in stocks, as per an SBI report published in June 2021, over 44.7 lakh new retail investor accounts were opened during the first two months of 2021. The total number of individual investors in the country hit the highest of 142 lakh this year. The Kolkata-based fintech aims to reach out to more investors to accelerate the pace of investing.


AI Is the Future of The Stock Investment

Companies are now using artificial intelligence and machine learning technologies to provide predictive analytics services to customers to better understand the possible performance of stocks before investing.

Most of the available platforms generate real-time stock analysis that consumers use to decide whether to invest in a stock or not. However, not every individual can devote their day to checking trends and making accurate investing decisions.

The core target of StockEdge is those individuals who want to find accurate stock signals altogether at the end of the day. Founded by Vinay Pagaria, Vivek Bajaj, and Vineet Patawari, the company specialises in providing ‘end of the day’ analytics that helps customers effectively invest in the stock market without needing to track stock signals 24/7.

“Our motto as a company is to simplify finance for our users and take jargon away,” said Pagaria.

StockEdge provides various technical and fundamental analysis tools mainly focused on statistical studies that help customers understand different indicators like moving averages, relative strength index, financial ratios, and many more. StockEdge runs available data through their defined filtered mechanism to generate accurate technical and fundamental analytics. “I have always felt that good analytics will always be a combination of artificial intelligence and human intelligence,” said Pagaria.

StockEdge firmly believes that human intelligence should drive artificial intelligence to generate better outcomes. StockEdge currently uses artificial intelligence solutions for mainly two purposes: firstly, for better analytics for the customers and secondly for analysis of the user behaviour.

StockEdge uses artificial intelligence and machine learning to analyse vast amounts of gathered data related to the stock market and generate unified results. For instance, the Indian stock market allows companies to report the names of their investors in a manually typed format that creates confusion as an investor’s name can be spelt or written differently by two companies. This issue makes it difficult for individuals to analyse the market.

StockEdge’s artificial intelligence algorithms group all those related entities and club them into a single entity that gives its customers a consolidated view of the Investor’s portfolio and actions. Earlier, StockEdge used a rule-based approach to provide this unique feature, but eventually, they integrated artificial intelligence solutions to automate this process of identifying and clubbing related entities. This feature helps StockEdge reduce the time consumed in analytics and provides almost close to accurate and insightful results to its customers. It also makes StockEdge stand out from the competition as no other platform uses such artificial intelligence algorithms in this format.

StockEdge also uses artificial intelligence and machine learning tools to determine, predict customer behaviour, and provide a personalised user experience. StockEdge gathers data from the actions taken by users on the application and uses them to send customised recommendations, reminders, and notifications to customers.

he company has developed an artificial intelligence algorithm that analyses critical customer information like past purchases, activity, and more to forecast the chances of customers renewing their StockEdge subscriptions. As the StockEdge application is a subscription-based platform, this artificial intelligence tool helps the sales team focus more on customers who are more likely to purchase. This allows the company to effectively utilise time to increase sales.

StockEdge also offers a social platform service to its customers named StockEdge Club that allows customers to interact with its analytics team. This feature helps customers learn more about stocks and the stock market. It is a stock market-oriented community that lets users share learning and ideas related to investments.

When asked about stock price prediction tools, Vinay Pagaria said that the company had tried multiple algorithms for predicting stock price earlier, but they achieved mixed results. He said, “It is not that simple and straightforward that artificial intelligence does everything and tells every morning what to buy and what to sell.”

According to him, the stock price prediction AI algorithm is still a 

very open-ended subject worldwide, and more research is needed to achieve high accuracy results that can be shared with the retail audience.

“We do not give direct tips in terms of buying and selling. We have always restricted ourselves to be a knowledge and unbiased research tool provider, which people can trust,” he added.

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TAGS: Business, Stock Edge, Investment Sector, Machine Learning, Artificial Intelligence, SBI Report
OUTLOOK 07 March 2022