AI & Finance: How Wakett Software Merges the Two

In the words of Frank Sinatra, AI & finance go together like a horse and carriage. Well, maybe those weren’t quite his words, but the truth is that AI has been applied in finance for many years, and it makes sense to do so. 

Let’s see why.

The Power of AI in Data Processing is undeniable...

As corporations introduced more powerful algorithms and headed advancements in hardware—especially GPU technology—AI’s role has quickly become more significant. 

But don’t just take our word for it: the rapid growth in the value of companies like NVIDIA highlights this trend. Yet the ultimate question you may be asking yourself is why do AI & finance go so well together?

Well, for a start, modern AI models can process vast amounts of data in a reasonable amount of time. They can also identify relationships that were previously difficult or impossible to detect. 

For data-driven investment managers, AI today offers more than just predictive tools: it can also assist with operational tasks, such as processing documents and extracting insights from a wide variety of data sources.

... But AI is Not Perfect

However, while AI presents exciting opportunities to accelerate processes in finance, it's essential to also recognise its limitations. After all, AI is not infallible. 

In fact, it’s good to keep in mind that it cannot perfectly predict markets, and that it can misinterpret or inaccurately extract data from documents. 

Understanding these limitations is crucial for any organisation looking to leverage AI's capabilities, ensuring it chooses the best software to help it marry AI & finance.

Wakett's Approach to AI & Finance

At Wakett, we’ve been integrating machine-learning algorithms into trading automation from the very beginning. 

This has allowed us to consistently leverage the power of the latest generation of AI models. There’s been, however, one main challenge, and that’s how to efficiently implement computations, especially when real-time data processing is required, and time is tight.

The Human-Machine Collaboration

Over the years, we’ve observed numerous experiments in operational environments that used AI to extract data from financial statements. What this made ever more clear is that precision is critical in this domain. After all, errors in financial data can lead to significant consequences. 

In such cases, we realised that a hard-coded solution with predefined rules often provides greater reliability, as well as stronger controls, than a generic AI system can.

This is why our philosophy at Wakett has always been to combine human oversight with machine speed, letting humans with expertise bear the responsibility for investment decisions, risk management, and supporting operations.

Introducing the Wakett Box

This experience is what led to the creation of the Wakett Box, which has been built from the ground up to connect with and integrate external modules, creating a powerful and flexible solution. 

This helps us assist clients in incorporating AI into their workflows in a bespoke manner, ensuring that the necessary controls are in place to minimise the risk of errors from inaccurate AI outputs in finance.

Is Your Company Ready for the AI & Finance Revolution?

So, if you’re ready to make the most of AI’s benefits while maintaining complete control over your portfolios and investment processes, now’s the time to get in touch with us. 

Together, we can make the AI & finance revolution a success!