Thai investment industry started to rely on technology to fully serve its business as indicated by the number of over 260,000 online investment accounts out of total 374,000 accounts. This reflects overall market that more than 50% of transactions are traded online.
Transactions were traditionally made either via a personal marketing advisor or self-traded via an application during flexible hours. However, some investors do not have time to monitor their ports, and others do not have sufficient information for investment consideration. These had obstructed their investment opportunities.
Therefore, many securities companies have applied Artificial Intelligence (AI) technology or Robo advisor to their services during the past 2-3 years. The robo advisor or a robotic financial advisor has become the most outstanding fintech in financial industry around the world because it is able to reduce manpower cost and to provide quick advices to multiple investors at the same time.
The backbone of robo advisor is big data analytics technology which collects statistics of previous significant investments, future forecast, trading technique memo and advices from investment leaders
Investors can only identify what is their investment preferences, AI will customize trading and asset allocation as per each individual. Also, AI will automatically adjust investment port based on changing market situation. This helps reduce stock monitoring time for investors.
Mrs. Pattera Dilokrungthirapop, Director and Chairperson of Association of Thai Securities Companies and Chief Executive Officer of DBS Vickers Securities (Thailand) Company Limited revealed that advanced technology will allow investors to acquire supporting information for their investment. It would benefit the growth of Thai stock market. Pattera also believes that it may not be possible for AI to totally replace an analyst or an investment advisor career as human being is able to reach information source from face-to-face communication and their prediction based on thought and senses could be more effective.
AI technology and investment industry would empower people to access Capital Market. It is an alternative support for investors to trade and process complicated data better. AI also modernize Thai Capital Market to another level. OPEN-TEC believes that broker services will continue to compete in offering technology-based services to attract their customers.
Source: The Stock Exchange of Thailand, SCB Economic Intelligence Center (SCB EIC), DBS Vickers Securities (Thailand) Company Limited