Tiger Brokers announced on Tuesday it has integrated DeepSeek's model into its AI-powered chatbot. This move comes as brokerages and money managers increasingly seek to leverage the Chinese start-up's advancements in artificial intelligence to enhance various financial industry applications.
The incorporation of DeepSeek's R1 model into TigerGPT follows DeepSeek's groundbreaking efforts, drawing attention in Silicon Valley and prompting a surge in Chinese tech stocks as anticipation grows for an AI-driven revolution spanning sectors such as education and finance.
Backed by stakeholders like Chinese electronics giant Xiaomi and prominent U.S. investor Jim Rogers, Tiger Brokers joins the ranks of firms embracing DeepSeek. Over 20 Chinese brokers and fund managers, including Sinolink Securities, CICC Wealth Management, and China Universal Asset Management, are already integrating DeepSeek models into their operations. This integration holds the potential to fundamentally transform how these entities conduct research, manage risks, make investment decisions, and engage with clients.
According to Tiger Brokers' founder and CEO, Wu Tianhua, DeepSeek will leverage their financial data to assist customers in analyzing valuations, making trading choices, and appreciating the art of investment. Wu emphasized the tangible impact of this collaboration in an interview with Reuters, highlighting the departure from mere conceptual or marketing ideas.
UBS forecasts a 24% increase in financial IT spending precipitated by rapid AI adoption, amounting to 69 billion yuan ($9.49 billion) over the next five years. This projected spending surge stands to benefit tech vendors like Hundsun Technologies Inc., Northking Information Technology Co., and iSoftStone Information Technology (Group) Co.
UBS analyst Haifeng Cao expects the rollout of DeepSeek R1 to accelerate GenAI adoption within the financial sector by 2025. This model, developed in advance of those from Western competitors, holds great potential to revolutionize the industry due to its focus on data-intensive tasks and language-related operations.
The high performance of China's Fintech index, climbing 17% this month and approaching record levels, underscores the momentum behind AI-driven innovations in the financial services sector.
Tiger Brokers announced that the enhanced TigerGPT investment assistant will initially be accessible at no cost to users in mainland China and Singapore. This upgraded version of the tool, enriched by DeepSeek's capabilities, is poised to provide enhanced logical reasoning and better interpretation of market shifts for investors.
The DeepSeek model has been lauded for its ability to stimulate fresh insights even among seasoned traders, proving invaluable in decision-making processes. Sinolink Securities and CICC Wealth Management are among the firms adopting DeepSeek's R1 model to bolster various services, from information search and market analysis to investment advisory and risk management.
Zhongou Fund Management affirms the need for standardizing internal databases to support AI models effectively, aligning with the broader trend of financial institutions harnessing AI to unlock previously untapped data resources. This momentum is driving discussions within the industry on leveraging DeepSeek's offerings to enhance internal processes across management, marketing, and investing.