The British-based bank launches a structured product that uses an artificial intelligence engine to optimize asset allocation.
While Swiss private bankers are still trying to get to grips with AI-based tech in the wake of Chat GTP’s launch late in 2022, British-based bank HSBC has now gone ahead and launched its first product.
In a release sent to the media Wednesday, HSBC indicated that private clients in Asia are now able to invest in a structured product linked to a multi-asset index driven by AI.
According to them, the product was developed together with EquBot and it is called AiGO8, which apparently stands for Artificial Intelligence Powered Global Opportunities Index.
Watson Engine
The product employs a rules-based investment strategy featuring IBM Watson’s AI engine and other technologies that help turn data into investment insights while using forecasting techniques to optimize asset allocation.
It is available to the bank’s private banking clients who are either accredited as professional investors in Hong Kong or accredited investors in Singapore and provides exposure to 18 different types of assets including global equities, fixed income, inflation-sensitive assets, and cash. The portfolio is rebalanced weekly.
