NAGA Group is bringing Artificial Intelligence (AI) to its social trading app and its proprietary payments technology in partnership with Rezolve AI Limited. The integration is expected to provide personalized market analysis, enhance trading efficiency, and automate payments.

Dubbed 'Brain', the AI-enabled solution will allow users to converse with chatbots utilising 95 languages on NAGA. With its integration, the Frankfurt-listed firm expects to enhance users' experience in online social trading and mobile payments.

AI Debuts on NAGA

Benjamin Bilski, the Chief Information Officer of NAGA, commented: "The timing for this partnership is just perfect. We have been preparing our data infrastructure and indexing capabilities to plug it with advanced AI language models for months and using Brain transforms our vision into reality."

According to a statement shared with Finance Magnates, Rezolve's Brain is expected to go live in the fourth quarter of 2023 on NAGA. With about a million users, the trading platform will let its clients access market insights and receive guidance in making investment decisions using AI.

The integration of AI technology by NAGA arrives at a time when several trading companies are embracing the technology to enhance their trading services. In July, Kama Capital partnered with Acuity Trading, a provider of AI-driven market insights, to expand its operations in the MENA region.

Growing Adoption of AI

Similarly, in June, the Dubai-based forex broker, GTC Forex, partnered with Acuity to streamline its trading processes using AI. Acuity is a London-based company that uses machine learning technology to provide important market signals to traders.

On top of that, in July, CFI Financial Group launched a trading platform powered by AI technology dubbed Capitalise.ai. The platform allows users to automate their trading strategies without the need for coding skills. According to the group, the new platform is expected to improve users' trading experience and eliminate human error.

The emergence of ChatGPT by OpenAI has revolutionized the trading industry and pushed companies to implement AI-based chatbots in their operations. The technology can be integrated into several applications, such as those facilitating customer services. For instance, the global search engine Google has fully integrated AI into its products and services.