Tiger Brokers Integrates DeepSeek AI for an Industry-First Initiative
Tiger Brokers Integrates AI Technology into Investment Platform
Introduction to Tiger Brokers and DeepSeek Integration
Tiger Brokers, an online brokerage firm listed on NASDAQ as TIGR, has recently announced a significant upgrade to its investment platform, TigerGPT. On Tuesday, the firm confirmed the integration of the DeepSeek-R1 artificial intelligence model, becoming the first global brokerage to utilize this advanced technology. This integration is part of Tiger Brokers’ ongoing efforts to innovate in the financial services sector.
Background of Tiger Brokers
Founded by Up Fintech, Tiger Brokers is based in China, which is also where DeepSeek’s parent company, High-Flyer, is located. The collaboration between Tiger Brokers and DeepSeek isn’t entirely new; in April 2023, the brokerage introduced TigerGPT, an AI-driven investment assistant. Although TigerGPT shares a naming similarity with the popular ChatGPT, it retains its own unique branding.
Enhancements Brought by DeepSeek AI
The integration of DeepSeek enhances the analytical capabilities of TigerGPT, allowing for improved logical reasoning and data processing capabilities. This upgrade facilitates detailed, multi-step analyses of market trends, stock performance, and investment opportunities.
- Key Improvements:
- Enhanced logical reasoning abilities
- Ability to analyze market shifts more effectively
- Improved interpretation of investment opportunities
Tianhua Wu, the CEO of Tiger Brokers, has expressed that the goal of these technological innovations is to simplify global investment for users. He stated that the upgraded TigerGPT would empower investors, regardless of their experience level, by providing clearer insights into complex market conditions.
What’s New with TigerGPT?
The revamped TigerGPT is designed to process a wide range of data points, including:
- Market trends
- Technical indicators
- Sentiment analysis
It also maintains access to Tiger Brokers’ comprehensive financial database. Since its launch in 2023, TigerGPT has reportedly handled more than 1.17 million conversations, with weekly interactions reaching over 18,000.
In a notable report by Finance Magnates, it was revealed that clients using the AI assistant have achieved an impressive 81% success rate. The latest version, now enhanced with DeepSeek, is anticipated to offer even greater accuracy in investment guidance.
User Experience and Rollout
The upgraded TigerGPT will first be available to users in Mainland China and Singapore at no extra cost. Tiger Brokers plans to continue developing its AI capabilities, aiming to introduce additional analysis tools and personalized services in the future. However, it is important to note that any information provided by TigerGPT is meant solely for informational purposes and should not be considered personalized financial advice.
Recent Financial Performance and Crypto Offering
In the third quarter of 2024, Tiger Brokers reported significant growth in trading activity and financial performance. According to the latest earnings report from Up Fintech, there was a record in trading volumes and commission revenue, with net asset inflows increasing by 134% compared to the previous year. The integration of Cash Boost with Central Depository (CDP) accounts has played a crucial role in achieving a 43% quarter-over-quarter rise in trading orders.
The company as a whole has experienced a 44.1% increase in revenue year-over-year, with a 15.6% rise from the previous quarter. The non-GAAP net income for the latest quarter reached $20.1 million, marking a 286.5% growth from the previous quarter and a 25.6% increase annually.
In June 2024, Tiger Brokers obtained regulatory approval in Hong Kong to offer virtual asset trading services to retail investors. This license enables individual traders to buy and sell cryptocurrencies such as Bitcoin and Ethereum through the Tiger Trade platform, broadening their service offering beyond just professional investors.
Tiger Brokers continues to enhance its platform and offerings, positioning itself as a significant player in the rapidly evolving financial landscape.
