Everyday AI Podcast – An AI and ChatGPT Podcast - EP 65: AI-Powered Financial Portfolios: How it's done

Episode Date: July 25, 2023

Will we all be using AI to manage our investments one day? Today Treebel Solimani, Founder and CEO of TriangleAI, joins us as we delve into the fascinating realm of AI investment management. We uncover how AI-powered tools revolutionize the way we manage our finances.  Newsletter: Sign-up for our free daily newsletterMore on this: Episode PageJoin the discussion: Ask Treebel and Jordan questions about AI and financeUpcoming Episodes: Check out the upcoming Everyday AI Livestream lineupWebsite: YourEverydayAI.comEmail The Show: [e-mail] with Jordan on LinkedInTime Stamps:[00:00:18] Daily AI news[00:05:45] How TriangleAI works[00:07:41] TriangleAI: Unique combination of expertise and algorithms.[00:11:35] AI agent aids portfolio management and scenario analysis.[00:15:00] Specialized agents: future of management and business.[00:20:34] Not enough accessible AI tools. Triangle AI's differentiation.Topics Covered in This Episode:- Discussion about portfolios and scenarios in AI investment management- Mention of specialized AI agents for chats, such as TriangleAI- Introduction to the use of ChatGPT in building AI-powered businesses- Questioning the impact of AI tools on the financial management industry- Speculation on the future of individual involvement in portfolio management- Excitement about using TriangleAI and researching portfolio growth- Explanation of Product Hunt and its relevance to software launches- Discussion about the generation of portfolio simulations and their optimization by AI agents- Highlighting investment advice, risk management, and the scatterplot feature within Triangle AI- Introduction to the Everyday AI podcast and its goal of helping people utilize AI in their professions- Emphasis on the importance of accessibility in the AI space, particularly in finance- Mention of the tool built for companies like Fidelities and financial analysts- Explanation of how TriangleAI augments work and improves efficiency in wealth management- Highlighting the conversational aspect of TriangleAI and its time-saving capabilities for balancing portfolios- Emphasis on meticulous data cleaning, analysis, and customer-centric approach in Triangle AI.Keywords:portfolios, scenarios, AI investment management, AI agent, assets, balancing, global events, performance, interest rates, inflation, portfolio analysis, understanding, specialized AI agents, TriangleAI, ChatGPT, AI-powered business, financial management industry, individual involvement, research, growth, newsletter, ChatGPT Plus, executive assistant, Product Hunt, future plans, portfolio simulations, risk management, scatterplotSend Everyday AI and Jordan a text message. (We can't reply back unless you leave contact info) Start Here ▶️Not sure where to start when it comes to AI? Start with our Start Here Series. You can listen to the first drop -- Episode 691 -- or get free access to our Inner Cricle community and all episodes: StartHereSeries.com Also, here's a link to the entire series on a Spotify playlist. 

This is the Everyday AI Show, the Everyday Podcast where we simplify AI and bring its power to your fingertips. Listen daily for practical advice to boost your career, business, and everyday life. Meet Firefly AI Assistant, now live and Adobe Firefly, the All In One Creative AI Studio. Just describe what you want to create and the assistant handles the rest, orchestrating multi-step workflows across Photoshop, Premiere Express, and more in one conversational interface. You direct the outcome. The assistant accelerates execution. Will we all be using AI to manage our investments one day?

That day could be sooner than we think. So that's one of the things that we're going to be talking about today on everyday AI. This is your daily live stream podcast and free newsletter, helping everyday people like you and me, not just understand what's going on in the world of AI because there's a lot. There's literally so much you can't even keep up with it. But this show is not even just about helping you keep up, but how we can all actually use it.

I think that's going to be one of the defining moments over the next year is can the everyday person use AI in their job, in their profession, to keep up and stay ahead. So before we talk about that and we bring on our guests today to talk AI-powered portfolio management, let's first talk about what's going on in the world of AI news. And just as a reminder, if you are joining us live, number one, thank you. Number two, drop us a question that myself and our guest for today can tackle and answer those questions. Also, if you are listening to this later on the podcast on Spotify or Apple, first of all, thank you. Second of all, leave us a rating. But also,

check the show notes because we'll leave links in there to where you can join us in the future every day 7.30 a.m. Central standard time to take part of this live discussion. So let's take a look at a couple pieces of news today. So first, chat GPT plugins are apparently a security risk. At least that's according to a wired report. So make sure to check about that more in the newsletter today. But I think this is important because so many people now are making chat GPT plugins a part of their daily routine, even myself included. So make sure to check that story out. Secondly, India's new AI news anchor is now live and reporting the news. So we've talked about this previously on the show and in the newsletter, but kind of some of the first round of feedback is in. And the initial

reporting is actually pretty positive on people giving feedback on this new AI news anchor. And also some people are signaling this might not spell good news for human anchors in the future, because of how well this kind of first experiment in India went. Our third piece of news, and this isn't all, but Open AI has quietly shut down its AI detection tool. So I'm sure a lot of people, educators included, are going to be upset about this. So Open AI did have a kind of AI detection tool. We've been saying all along in the show, and I think this is one of the reasons it shut down,

for the most part, these AI detection tools do not work. at all. And that is, you know, Open AI admitted that. One of the reasons it shut it down is because of poor accuracy. But at least we've, internally, we've tested at least 10 to 12 of these. They don't work. Let's just say it, say it like that. So before we bring our guests into today, just wanted to shout out some of our audience already tuning in. Brian, tuning in from the Gulf Coast saying, good morning. Rastafah, good morning to you as well. So as a reminder, please bring your questions as we bring our guests in for today, which I'm very excited about. So let me welcome in our guests for today. We have Treebell Solomani. Treebell,

thank you for joining us. But yeah, tell us a little bit about your company, Triangle AI. Thank you for having me, Jordan. I'm so happy to be here. Triangle AI is a combination of AI that helps us manage portfolios like we've never been able to do before with speed, accuracy, position, again, like never before. Yeah. And I do. have to shout out Treebell because he's joining us from from the West Coast so very early today so shout out shout out to Treebelt for joining us early um i i have to ask you um you know what gave you this idea to to bring in um an AI powered portfolio manager into the fold yeah uh this actually came about 10 years ago i was at SSU at my university and uh we just gotten out of a

finance class and you know, there's a lot of fundamental analysis and other things that go into investments in general. But it was already a lot of information back then and it's a lot of information today. And it changes constantly. So over the past 10 years, I've been actively trying to invest, learn and try new methods. And AI is really the only way that you can be able to keep up today and be able to keep up 10 years from now. So with the experience that I gained with a decade of experience in finance and five years in AI machine learning, it made sense to finally build this tool. Yeah, yeah, that makes sense. So just as I bring it up here for those of us joining in live just to show a little bit of the platform, but maybe for those not joining us live, explain a little bit about how the product works here.

So as we look at the kind of the home screen, it's showing, you know, your AI powered financial alley, empower your strategy, maximize return on our AI-driven platform. But yeah, just explain for the average person, maybe not looking at the screen, how does triangle AI? How does this work? Yeah, so that's a great picture on the right there where you have a lot of scatters on that plot. So that's displaying 10,000 portfolio simulations. Those 10,000 were generated in six.

seconds. Okay, so imagine today you want to go in and build a portfolio. I'd say, Jordan, what stocks come to your mind? Maybe you have a free on mind. But if you want to balance those, maybe you do a little bit of a guessing. I want to split it across evenly or I want to do it like this. Well, here we take the guessing work out of it and we actually look at the data over the past year, five years, whatever it is. And it calculates for you based on risk and return and automatically gives you the best, most optimized portfolio. So what you can do with our AI agents is you can freely talk to it as a regular person, right? I'm looking to invest in AI and I want to advantage the risk that comes with the compliance of that

or the risk of fear where that comes with that. And it will give you additional tickers, companies and things like that you can add to the portfolio. Then finally, when you're ready, you just type in all those assets and it'll balance it for you by running that scatterpool. And then, yeah. Yeah, yeah, Mark here with the comment, you know, 10K and six seconds. That's a lot. You know, Trudeau, one of my, the questions I have immediately,

and maybe this will help our audience also distinguish Triangle AI from other platforms. I think almost every company now is saying, you know, and obviously in the financial market, you know, machine learning and deep learning and AI has been used for decades. right. So maybe help our listeners and viewers distinguish between, you know, what the big companies are always saying, oh, yeah, we're using, you know, we're using AI to help, you know, manage your portfolio. Maybe help us distinguish between that and kind of, kind of your, your product here with Triangle AI. Definitely. That's a great question. So, yeah, a lot of companies will try to actively say that, you know, they're catching up at the times and

introducing these different features. What makes Triangle AI is different. is the core people that are working on it. So I have 10 years of experience in finance, being in corporate finance and doing financial analysis, credit analysis, and pricing analysis. So utilizing what I've learned over that period of time and additionally on that investing and researching the different hedge funds and things like that, combining that now with my experience of corporate machine learning and data science. So in my previous role, I was a data scientist and I was the lead data scientist,

for a large construction technology company. And what we did there was build an entire AI hub that actually supported our internal teams, helping them build a centralized pricing mechanism. We helped them do very advanced forecasting to a point where I think we forecasted and predicted sales and head counts with a 4% margin of error during COVID,

which was, you know, that's something else because COVID, who could have seen that coming right? So being intensely Data meticulous about the data that we clean The data that we've analyzed and forecasting that It's the algorithms and the combination of the algorithms The knowledge behind finance that I have And listening to what the customers want

Combining those three things is what makes Triangle so unique Yeah, yeah, that's And it may be one other thing That might be important to talk about here is at least right now, you know, Triangle AI is not directly managing, you know, your portfolio for you. It is right now just doing all the front end work, giving you the recommendations based on, based on what you're inputting, correct? So yeah, you still have to update everything yourself right now within your kind of financial management platform.

That's correct. Yeah. Right. You know, great question from Nancy. And we kind of just just mention this, but I think it's a good question to dive into. So asking Troubell, how do you give customers confidence in Triangle AI when they're used to working with the fidelities of the world? Yeah, yeah, these big companies, is there a personal contact for customers? Adobe just introduced an entirely new way to create, bringing the power and precision of its creative suite into one conversational experience. Meet Firefly AI assistant, now live in the Adobe Firefly app, the all-in-one creative AI studio. powered by Adobe's creative agent, Firefly AI assistant lets you start with your vision,

just describe what you want, and shape the outcome as it takes form with the assistant. The assistant orchestrates multi-step workflows, drawing on 60 plus pro-grade tools across Adobe Creative Cloud apps, including Photoshop, Illustrator, Premiere, Lightroom Express, and more to help bring your ideas to life. You can also get started with creative skills, a growing library of pre-built workflows for common creative tasks like batch editing photos, creating mood boards, portrait retouching, and creating social variations. Every step the assistant takes is visible so you can refine, redirect, or take over at any time.

You stay in the driver's seat as the creative director. Adobe Firefly AI assistant now in public beta. See it today at firefly.adopi.com. Personal contact for customers would be me directly right now. You'd be working closely with me. the Fidelity of the world and similar companies and financial analysts is who this tool is actually built for in this phase right now. I had a saying at my old company and I'll say it now too, which is that I want AI to help us. I want AI to be an augmenting tool for us so that we can do the work that we currently do a lot better, faster and more precise.

and with robust view that we introduced into scenarios and the kind of dynamic filters that we introduce in there without having any filters is all a combination of different products that helps people at Fidelity at some of the larger firms, wealth managers in general, due to the work that they already do at a much faster pace. So if a client is reaching out to a financial advisor or wealth manager right now, instead of them having to spend maybe an hour, two hour, three hours on research and balancing

a portfolio, now they can do it within a few minutes. Yeah. And it sounded like a pretty cool aspect of this was more of the conversational piece of it, right? So how a lot of us now are feeling comfortable with having these back and forth with AI power chats like chat GPT or, you know, Google Bard. Correct me if I'm wrong, but it sounded like there's. there's a piece of that where you're giving information and having a conversation.

Is that how it works? Absolutely. So both portfolios and scenarios, you have an AI agent that you work with directly. So in portfolios with the AI agent, you can directly ask, you know, what types of assets that you're looking for. If you're trying to balance those assets, if you want it for growth, for income, dividends, whatever you're thinking, it has a parameters to look into that. has a wide amount of wisdom.

For scenarios, you can actually just bring up global events. This is where it gets really challenging for portfolio management is, well, how did this perform in 2008? How did this perform during the COVID-19 pandemic? What were the events leading up to that event? So now you can just type that in. And as you can see on that plot there with the red lines, it will pull up the timeline that you're asking about automatically without you doing it.

any filters and it'll show you it'll highlight the events that are most impacting on your portfolio so you can actually just highlight and see oh okay so the pandemic happened here and these were some of the leading events up to that point or right now some of the bigger questions are you know interest rates and inflation you can type that and see how did this impact my portfolio in the past how is it going to impact it now so you get a much clearer view with these dynamic and and robust views. Yeah, yeah. Just real quick, a couple other people tuning in.

Just wanted to shout them out. Angela joining us from Texas, PJ saying good morning, Dr. Rajesh. So a question I have for you, Treebell, is do you think this is more of the future of investing, right? Because one thing I am always looking at, and as we bring on different guests on this show is, you know, how Jan AI is going to impact all different industries. Is this something that you see, and not just your product, but is this something you see in the financial management kind of area where people, individuals, maybe are managing their portfolios more than they were in the past because of tools like this?

And do you see it kind of commonplace to be having that back and forth conversation, you know, given your background in the space. Do you see that as normal? Because I feel in the past, you know, maybe 20, 30 years ago, I don't think individuals were as involved with managing their portfolio. You know, you hired someone, you gave them the 1% fee or whatever. And that's really all you knew. Do you kind of see this as where the industry is going?

Absolutely. So as I was saying, like 10 years ago when I really thought about this, I wanted to invest my money with someone. I couldn't pay the fees. I also didn't have access to the right people. With AI, we're getting access to all of this information and access to the right people. So as I mentioned, like Triangle AI is actually supporting financial advisors, wealth managers and tech savvy investors.

So 100% this is giving a lot more access than we had before. And it's going to get even better because at every level, you have different questions. And at every level, you know, the answers that are required, this will be able to manage for you and help you out a lot better than ever before. Yeah. And I do think it's important for all of our listeners and viewers to realize this. I do think this is the future of how we work, right? Having specialized kind of agents that we're chatting with, right?

So whether it's our content, you know, if you're a content creator, you know, triangle AI, something like this to help manage your portfolio. you know, if you're in data analytics. But I do see this as being kind of the future of management. So speaking of that, you know, Trubel, we always talk about chat GPT, but, you know, you kind of mentioned a little bit pre-show that you've not just integrating, you know, obviously AI into your product, but also in helping you build your business. You know, so you had a launch on product ton.

So congrats on that, by the way. But tell a little bit about how you've been using. you know, chat GPT to even build, you know, your AI powered business. Yeah, so I like to challenge myself every week. And it was Sunday, I'm talking to chat GPT and saying, well, this is the status of the product. I'd like to go on product time. What should I do? And GPT kind of responded, well, launch on Wednesday.

So, well, you know that that's three days away. So it launch anyways. And so that was a really exciting response from GBT. It gave me some recommendations, which really helped me out. And I was able to publish in three days and really challenged myself to a point where I wouldn't have done this if it was not for GPP. Yeah, yeah. It's using ChatGBTGBT as an executive assistant, I think is one of the most overlooked use cases of it. You know, you just gave a great example there.

You know, it's actually pushing you to work on something and to get it out maybe sooner than you're comfortable. because otherwise, maybe you would have sat on it for another couple days or another, another week or two, right? Absolutely. Yeah. You know, and just as an FYI for those tuning in, if you don't know product, it's essentially a place where, you know, new software founders or SaaS, you know, CEOs can go and kind of kind of launch their product and, you know, open it up to the world.

Tribo, what would you say is kind of the next, kind of the next step forward, for Triangle AI or if people already are interested and they don't care about where the future of your project isn't going, what are the next steps for them? It's bringing in more access to your current portfolios and things like that, being able to load them, save them, and update them within the application more and more. So as we work closely with customers moving forward, we'll be adding all of the features that you're looking for first. and there's a lot more coming.

I've built a lot of algorithms over the past 18 months that are for the space that are not even built into this. So those will be rolling out as you need them. Yeah. And also, just to let the audience know, this isn't a paid segment, right? Like, I think sometimes people are used to seeing ads. And, you know, so Tribal is not paying me. I saw the product and I'm like, this is extremely helpful. And I want the everyday AI audience to know about this product.

But, you know, maybe what's your one recommendation for people who are looking to use, you know, triangle AI? What's your best kind of tip for people to go in and to try to get their feet wet? Because this is new, right? Like I think financials is always something that we've guarded heavily, right? And rightfully so, right? You never want to, you know, I guess quote unquote, put all your financial information out there. But, you know, at least right now, this is more of a very smart recommendation engine for people to build a portfolio using AI.

So what's kind of your one takeaway for people who might be interested to get in there and start using it? That's a fantastic question, Jordan. Yeah, just go in there and ask whatever questions you have. I don't want to specify any aspect of it. It's more important that you engage with the AI agents the way that you want to talk to them because that's how they'll learn to answer you better based on your specific needs. I went in there and just put in, you know, what were some of the impacts of previous elections?

Because that's something I was curious about, you know, on my portfolios. Does that have an impact? Should I be concerned? So whatever questions come to mind, try that out. And if it's not giving you an answer to satisfactory, let us know. Yeah. Yeah. A great question here, kind of, kind of off topic, but I love talking about this. So Nancy's asking, what tools are your favorites this summer?

So even just recent. So, you know, maybe what AI tools are, maybe helped you build Triangle AI or just, you know, what are you using and really enjoying right now? You know, I haven't used it for Triangle AI, but I love Mid Journey. And it just, there's something to mid-journey and just being able to create these different worlds and different characters that has been really enjoyable. I think when I first signed up for Mid-Journey, I generated about a thousand images in two days, which was just wild. But so beautiful. I love using that tool.

Yeah. Yeah. There's no shortage of AI tools out there. And that's why, you know, I was very excited to talk about triangle AI. today because I don't think that there's enough accessibility, at least right now, in this space with the amount of data that's out there. You know, when people use chat GPT or Google Bard for the first time, you know, I think, you know, using it for content creation or to analyze and research is great.

But I didn't think that there's enough easy and accessible tools out there on the financial space, which is why I was even personally excited to learn more about triangle AI. You know, maybe one less question that I have for you, Trouvel, is, you know, as other companies are starting to, you know, introduce, right, right? More of these, you know, kind of chat bot or chat agents. I guess how, you know, let's just say if fidelity comes in or another big company and they're, you know, pushing something similar, you know, both for your own company and just so, you know, customers know, how will Triangle AI kind of differentiate itself as I'm sure other companies will

catch on eventually and maybe start to offer something similar? But I guess what is still the benefit for customers to use a product like Triangle AI maybe in conjunction or outside of, you know, their wealth management platform? Yeah, there's always a million people that can solve a problem in a million different ways or a billion different ways. The way that we approach problem is different. It's a framework that I use at my old company and it's a framework that I'll be using moving forward. It's actively engaging with the people that are using this and understanding the true problems that are in their day-to-day challenges and building for that. So what differentiate us is that we'll be client-centric.

client focus in working on this. So right now, if we're building for financial analysts and wealth managers, we want to know what daily challenges they have so we can make this a tool that helps them 10x, 100x the current workflows and make it as powerful as possible. And we'll continue to do that. Yeah. Wow. I don't know about anyone else.

I'm personally excited to go in there and to start using this and kind of to start even researching my portfolio and how it can grow and to maybe get feedback. But Treebell, thank you so much for joining us on the Everyday AI show. It's been great to be able to pick your brain for a little bit and to talk about Triangle AI. So thank you. Thanks so much for reminding me, Jordan. This was really fun.

All right. And just as a reminder for everyone, if you are listening and if you couldn't keep up taking notes, don't worry. We're going to be sharing in our newsletter today more about Triangle AI and everything that myself and Treebelt talked about. So don't worry. And just as a reminder, we are giving away, right? So Trevelle talked about how he was using ChatGPT to help build his business.

So make sure you go to Your EverydayAI.com. Sign up. I think our contest ends this week. We're giving away six free months of the ChatGPT Plus subscription as well as six one-on-one training sessions. So make sure to go check that out. So with that, thank you for joining us. And we hope to see you back tomorrow and every day on Everyday AI. Thanks.

Meet Firefly AI Assistant. Now live in Adobe Firefly, the Allman One Creative AI Studio. Just describe what you want to create in your own words and the assistant handles the rest, orchestrating multi-step workflows across Adobe Creative Cloud apps, including Photoshop, Premiere Express, and more in one conversational interface. You direct the outcome while the assistant accelerates execution. Stand control with the ability to step in and refine at any time. See it today at firefly.

adobe.com. And that's a wrap for today's edition of Everyday AI. Thanks for joining us. If you enjoyed this episode, please subscribe and leave us a rating. It helps keep us going. For a little more AI magic, visit Your EverydayAI.com and sign up to our daily newsletter so you don't get left behind. Go break some barriers and we'll see you next time.