OCBC Securities has unveiled A.I. Oscar, the first artificial intelligence (AI)-powered stock-picker tool designed to triple its base of active Singapore investors. A.I. Oscar predicts stock price movements and generates hyper-personalized stock ideas. Initially focused on Singapore stocks, A.I. Oscar has expanded its coverage to the Hong Kong and United States markets following a successful pilot from October 2023 to April 2024. The service is free for all OCBC Securities customers and accessible via the iOCBC app, iOCBC online trading platform, and email.

A.I. Oscar leverages deep learning algorithms to identify and predict market patterns, developing a comprehensive understanding of an investor’s trading behavior. It analyzes factors such as risk appetite, past trading activity, and demographic information to curate a weekly list of 15 hyper-personalized stocks from Singapore, Hong Kong, and the United States. This personalization enables investors to filter stocks that match their trading preferences and execute trades immediately.

The AI tool is particularly beneficial for young, self-directed investors. In 2023, 97% of trades by customers under 35 were made through digital platforms without broker assistance. During A.I. Oscar’s pilot period, trading activity among young investors increased by 50%, with this demographic opening more than half of all new trading accounts in 2023. OCBC Securities aims to leverage A.I. Oscar to triple the number of active customers in this segment over the next three years.

Developed through a joint effort from OCBC’s Group Data Office and OCBC Securities’ trading strategists, A.I. Oscar employs neural networks to identify data patterns and create dynamic prediction parameters. Trained with data from over 4,000 stocks across major exchanges, A.I. Oscar utilizes a decade’s worth of stock fundamentals, macroeconomic factors, market patterns, and technical indicators. The dataset is updated daily to maintain current predictions. Continuous improvements in AI modeling techniques by OCBC’s data scientists and trading strategists enhance A.I. Oscar’s prediction accuracy.

Wilson He, Managing Director of OCBC Securities, stated, “Investors already have access to a wide range of information, but the challenge lies in finding relevant data and distilling it into actionable trading ideas. A.I. Oscar addresses this need, and we expect it to become an indispensable tool, especially for digitally savvy young investors who prefer the self-service model. Our trading representatives also find A.I. Oscar useful as the stock ideas can serve as a discussion starting point with customers.”

A.I. Oscar aligns with OCBC’s corporate strategy, focusing on accelerating transformation and digitalization. The bank has seen success with other AI initiatives, such as OCBC Wingman, a bot launched in May 2023 to assist in-house developers with coding.

Customers can receive A.I. Oscar’s stock ideas via weekly push notifications on the iOCBC app, the iOCBC online trading platform, and through weekly email updates. Each notification provides a hyper-personalized set of 15 stocks, accompanied by key fundamental and technical indicators.