Israeli Regulator Approves AI Chatbot for Stock-Picking Recommendations
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Israeli Regulator Approves AI Chatbot for Stock-Picking Recommendations

AI startup Bridgewise has received approval from Israeli regulators to launch a chatbot designed to provide stock trading advice.

The Israel Securities Authority (ISA) has authorized Bridgewise to debut the chatbot, named Bridget, in collaboration with Israel Discount Bank later this month, as reported by Bloomberg.

Bridget will be able to make stock recommendations based on user inquiries; however, it will not offer personalized advice tailored to individual customers, as stated by an ISA spokesperson to Bloomberg.

Gaby Diamant, CEO of Bridgewise, remarked, “It’s ChatGPT, but with a financial edge. We’ve conducted everything in a calculated manner, involving regulators throughout the process.”

The startup is also collaborating with a second Israeli bank and a retail trading platform in Brazil and plans to introduce features such as 12-month share price forecasts, earnings call transcripts, and assistance for users in creating custom themed portfolios.