Artificial intelligence (AI) broker AIX has completed the first ever trade brokered by an Al powered chatbot.
The trade used Al technology as opposed to the traditional human brokerage model, completing a successful cryptocurrency transaction between Rockwell Capital Management and TLDR Capital.
The AiX broker executes trades by emulating human decision-making and natural language to handle thousands of conversations simultaneously, both with traders and systems.
AiX communicates with multiple traders for the best price, allows for tailored bidding, and feeds real time information when conditions fluctuate, all in a fraction of the time it would take when dealing with traditional brokers.
Jos Evans, founder and CEO of AiX, said: "This trade is a milestone in AI innovation coming to the forefront of financial services.”
“The potential for AI to revolutionise and benefit the sector is huge and we are proud to be a part of pushing this change forward.”
“Enabling AI technology to disrupt the inter dealer brokerage will make trading more efficient, transparent and cheaper for professionals and over time this will trickle down to deliver savings for investors everywhere.”
Jon Knipper, partner at TLDR Capital, added: "This is a historic moment for market making. Not only for crypto assets, but with the potential to change traditional equity and fixed income markets. The way that AiX has integrated AI into the trading process at this level vastly simplifies the work of the investor and helps us save on the bottom line."
Brian Sewell, CIO at Rockwell Capital Management, said: “AiX represents a key step in exploring the use of AI in cryptocurrency trading. The chatbot exemplifies how AI can help make the cryptocurrency markets more efficient.”
