In the world of investing, having accurate and up-to-date information is the name of the game. The better information you have, the more likely you are to make a killing.
The problem? It takes outrageous amounts of time to trawl through financial data, earnings call transcripts, annual reports, and every news story that might impact share prices.
FinChat, an AI-powered chatbot, thinks it has the solution. Powered by advanced machine learning, FinChat is designed to analyze and deliver crucial financial data on more than 750 companies and 100 super investors through an interactive chat interface. It’s basically ChatGPT for finance.
If successful, this tool could completely redefine the way investors access and use information.
What is FinChat?
FinChat is a generative AI tool that will provide you with information on 750+ companies and 100+ super investors. It is, basically, a chatbot that can act as your equity analyst assistant.
Unlike traditional ChatGPT FinChat is trained on reams of financial data. That includes:
📊 Up to date financial data
🎙️ Earnings call transcripts
📆 Quarterly + annual reports
🏦 13Fs
📚 Investing books
🎯Granular business KPIs
This bespoke financial training means it is specifically designed to answer tricky financial questions about companies and investors that would usually take hours (if not days) to research. Here are just some of the things you could ask FinChat:
- “What is the YoY revenue growth for Company X in the last five years?”
- “How has Company Y’s stock price performed in comparison to its industry peers over the last six months?”
- “What are the top three holdings in Warren Buffett’s portfolio?”
- “What is the debt-to-equity ratio for Company Z?”
- “Which sectors have been outperforming the market in the last quarter?”
How revolutionary is this tool?
Before FinChat, finance professionals had to sift through vast amounts of data from various sources to gather insights on market trends, investment opportunities, and company performance.
This process was time-consuming, labor-intensive, and prone to errors. FinChat solves these problems by harnessing the power of AI to analyze and extract relevant information from diverse sources, delivering tailored insights to users.
The tool unlocks new opportunities by providing access to an unprecedented range of financial data, which can be used to identify potential investments, evaluate company performance, and monitor market trends.
Is FinChat free?
FinChat.io is free to use for 10 prompts per day. You can upgrade to Plus to get 50 daily prompts.
FinChat Plus will set you back $20 per month.
Closing Thoughts
As AI-powered tools like FinChat continue to improve, the future of the finance industry looks set to be more efficient, data-driven, and informed.
This tool is barely 1 month old, so is prone to errors. But as this tool and technology evolve, expect the finance industry to evolve with it.
