At CityFalcon, our mission is to democratise access to financial intelligence, from market news and analytics around the world to education and new and better tools for investors, traders, and enterprises. We’ve done this by leveraging Natural language Processing (NLP) and other applicable technologies, and the latest wave of (generative) AI perfectly complements our traditional AI tools. By migrating to the .ai domain, we are highlighting this fundamental engine of our products.
This is not an appeal to the bandwagon, since our tools were already AI-based. However, it could easily be missed as the tools stood behind the data and its presentation – common in modern systems where the engine is hidden and just the output is seen.
Our market, the global Artificial Intelligence in fintech, was valued at USD 9.45 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 16.5% from 2022 to 2030 (source: Grandview Research). Of course, this was before ChatGPT saw public-facing adoption of 100 million users in a very short timeframe, and global society started to take AI breakthroughs seriously. This huge market is ripe for agile firms to disrupt, of course, including ourselves. We will lead this market, and our new .ai domain symbolises this vision.
In line with the evolving technology landscape, we’ve been building several AI-driven features to help our users in smart financial decision making, enhancing user experiences, and prioritising AI-driven development. Some of these were already in development before the recent flurry of activity, especially driven by the release of OpenAI’s ChatGPT and successors, and others will be augmented by the new generative AI technology.
In this blog post, we’ll describe the reasons behind this change, the benefits of AI-based features for clients and users, and how the changes internalises our basis in AI for the team and our execution. We’ll also explore the impact of generative AI on the financial markets (read our more detailed discussion here).
Embracing AI for Enhanced User Experiences:
CityFalcon.ai harnesses the power of artificial intelligence to deliver unparalleled experiences for clients and users. Advanced AI-driven features offer numerous benefits, such as:
- Personalised Content: AI and automation enable us to tailor content and recommendations based on individual preferences, allowing users to make better-informed decisions and reducing noise.
- Improved Efficiency: AI-powered tools assist due diligence and market analysis with analytics like sentiment, Key Headlines, and relevance scoring. Thus users can more quickly and accurately process the complex information generated by markets.
- Multilingual Support: With voice and text support in over 50 languages, CityFalcon.ai ensures that users worldwide have access to critical financial information, regardless of the original publication language. See our language coverage.
- Further Features: other generative-AI-driven features are on the roadmap, leveraging both the new breakthroughs and the technology we had already developed internally. The ChatGPT hype puts these other features at the forefront of our roadmap so we can capture the new-found public acceptance of AI and its products.
Of course, this is all designed to be affordable and to democratise access to financial content, market analysis, and knowledge management – from the retail user with a small portfolio to the SMEs that cannot afford the big licences to even internal bank teams that want individualised content and accounts rather than sharing a couple of very expensive seats.
Generative AI and the Financial Markets:
As AI continues to evolve, generative AI technologies like ChatGPT are making a significant impact on the financial markets. Our recent article, “How Will Generative AI Such as ChatGPT Affect the Financial Markets?” delves into the potential implications of these advancements, including
- Improved data analysis and trend identification
- Enhanced risk assessment and portfolio management
- More sophisticated financial advice and decision-making support
- The risks and countermeasures thereof
How we are aligning internally
While we’ve been leveraging machine learning and AI technology since our inception through natural language understanding (NLU) and models for sentiment, similarity, and relevance scoring engines, the seamless integration and our familiarity with it could sometimes cause team members to overlook that the tools were in fact artificial intelligence.
reasons we have renamed our domain to .ai is to keep the idea that we are indeed an AI company at the forefront of our team’s minds. This organisational aspect of the domain name change helps align our vision internally and brings the term and concept “AI” to the forefront of people’s minds when executing the vision.
The power of context for organisational behaviour cannot be overemphasised, and the change in our domain simply reiterates to our team members our values and goals but now slightly flavoured with more AI seasoning. These goals have not changed fundamentally, but changing a perspective can really extract latent value that was hidden by the previous perspective. Our goals and values still include
- A growth mindset – essential for a tech company and to keep up with tech changes
- Collaboration and knowledge sharing – in public chats and through weekly discussions
- Reception to feedback – internally and from all stakeholders
- Prioritise UX – always keeping the user in mind and testing/using the product
- Testing and iterating – to optimise the UX and remove bugs plus bring improvements in small chunks but quickly
Our transition to CityFALCON.ai highlights our focus on AI as the core of our products (both traditional AI tools and new ones) and reminds our team internally of that focus. We continue to build exceptional experiences for clients and users while fostering a culture of innovation within our team. By embracing AI-powered tools, we will continue to lead the way in financial decision-making and ensure that CityFalcon.ai remains a trusted partner in the ever-evolving financial landscape.