Artificial intelligence to drive investment, financial education- Sankore Investment
TITI ODUNFA ADEOYE, CHIEF executive officer, Sankore Investments has hinted that artificial intelligence (AI) will begin to drive investment and financial education in Nigeria in the nearest future.
According to her, artificial intelligence has such amazing applicability in the investment space and can be channeled towards curbing financial exclusion and driving economic growth .
She explained that Sankore, Diamond bank’s ADA bot developer was launched to do more than just banking, “we intend for ADA to shop stocks before the end of the year. During her pilot phase, she could already give you quotations on stock prices because we integrated her into the Nigerian Stock Exchange. But we realised that people that have never invested before, ask for stock prices, but have no idea what to do next.”
So with AI, we can actually tailor financial education to the people who need it, and we are working to ensure that we can lean people towards where they want to go
Speaking on how regulatory authorities and the government could support and accelerate the technologydriven revolution in Nigeria, Odunfa-Adeoye explained that Sankore started out about 8 years ago with managing money for individuals. However four years ago the company realised that the future is completely technology driven and decided to explain to the Securities and Exchange Commission (SEC) what they intended to do.
“We ended up going to our regulators and talking to them about the platform that we want to build. We built a robot platform that has an overlay of AI on it, Adeoye said adding that the platform is an invest tech platform, which builds the future of Sankore’s business.
“I find that the role of regulation in Government should be to be open. The regulators have to be supportive, they need all of us to innovate, come to them, they select what works, and then they can regulate. What we must ensure is that we stay innovating and carrying the government and regulators along,” Adeoye advised.