Eager to accelerate the development of their brokerage services in the Middle East and tap into the growing potential of artificial intelligence (AI ) in retail trading, Kama Capital has partnered with Acuity Trading, a provider of AI-driven market insights. It is another broker in the MENA region that has been betting on artificial intelligence recently.

Kama Capital and Acuity Initiate Collaboration

This partnership will enhance Kama Capital's current offerings with Acuity's AI tools, augmenting its clients' ability to navigate financial markets. As a result, traders can expect more detailed market insights based on artificial intelligence technology. Moreover, it will introduce AI-based solutions that are presently popular in bots in the Middle East.

“We are thrilled to announce our strategic collaboration with Acuity, as we believe it will empower our clients with the best tools and educational materials to trade with confidence in the market,” commented Khaldoun Hilal, the CEO of Kama Capital.

For Acuity, this is another recent collaboration with a Middle Eastern broker. In June, Finance Magnates reported that GTC Forex (GTCFX), a multi-asset STP broker headquartered in Dubai since 2006, announced a strategic partnership with the AI-driven tools provider. Acuity also supplied artificial intelligence-based tools to support the trading process as part of the cooperation.

“This collaboration will blend Acuity’s innovative, AI-powered market insights with Kama Capital’s strong regional presence and customer-centric approach,” stated Andrew Lane, the CEO of Acuity Trading.

Acuity is a London-based firm established in 2013 which uses proprietary technology to extract and interpret rich sentiment data from global news sources. It delivers key market signals by using advanced machine learning and natural language processing technology.

Brokers Are Adopting AI on a Grand Scale

ChatGPT from OpenAI has sparked a true market revolution and made almost every company want to implement AI-based chatbots into their structures. This also applies to brokers and retail trading platforms. From a broad perspective, artificial intelligence has numerous applications in the financial industry, ranging from fraud detection to customer service.

As early as April, Tiger Brokers, a leading online brokerage firm trading brand focusing on Chinese investors UP Fintech Holding Limited, presented an alternative to the artificial intelligence chatbot ChatGPT, named TigerGPT. According to the company's press release, this was the first AI trading assistant released in the industry.

According to the latest annual Investor Index study, a new wave of reliance on AI for financial advice is forming in the UK. The study indicates that 73% of British investors trust ChatGPT for providing credible financial advice in the future.

This week, CFI Financial Group has joined the AI trend in MENA, launching Capitalise.ai, a third-party trading tool. This AI-based trading platform offers clients the ability to automate their trading strategies using uncomplicated, plain English, eliminating the need for coding skills. According to CFI, Capitalise.ai is aimed to improve trading experiences and reduce the risk of human error.