B3, the Brazilian stock exchange, has introduced a new AI assistant designed to help Brazilians better understand and navigate the world of investing. This innovative tool aims to address the increase in the number of individual investors in Brazil, which has grown from approximately 600,000 in 2017 to approximately five million today, with millennials making up almost half of this demographic group, according to Source LATAM.
Empowering new investors
The AI assistant, called B3’s co-pilot, does not provide stock tips, investment advice or broker recommendations. Instead, it helps users understand financial terminology and answers questions compiled by B3’s experts. It covers topics such as stocks, bonds and how to find a broker, making complex financial instruments accessible to novice investors.
Christianne Bariquelli, Chief Inspector of Education at B3, emphasized the importance of this tool for new and potential investors. “This solution is intended for Brazilians who are already investing but are still at the beginning of their journey, or for people who want to invest but do not have the information they need,” she said. The AI assistant aims to provide safe, reliable information to help users make informed decisions.
Factors driving investment interest
Bariquelli attributes the increased interest in investing to several factors: improved financial education, easier access to digital investment accounts and historically low interest rates between 2018 and 2021. The average investment amount fell from 4,300 reais in 2021 to 2,200 reais at the end of 2021. of 2023, which indicates that investing is becoming more accessible to the middle class.
Deposit savings accounts, known as Poupanças, have traditionally been popular because of high interest rates intended to control inflation. However, as inflation decreases and interest rates fall, Brazilians are looking for alternatives with better returns.
The role of AI assistant
Marcos Garavini Siffert, coordinator of an engineer and investment club, highlighted the AI assistant’s potential to help new investors feel confident enough to explore investment opportunities beyond traditional savings accounts. The assistant provides high-quality information, similar to reports available from private banks, but accessible to everyone.
B3’s educational offering includes articles, videos and online courses. The AI assistant complements these tools by providing direct answers to specific questions, such as “what are stocks?” or “how can I save to invest?” This tool helps users understand the financial terms they encounter during their learning journey.
Continuous improvement and ethical standards
Marcos Albino Rodrigues, Director of Architecture, Data and Technology Innovation at B3, explained that the AI assistant is continuously trained to improve its responses and ensure they remain within B3 guidelines. The assistant is designed to provide education without making investment suggestions, maintaining an ethical layer to prevent discriminatory behavior.
The AI assistant, developed in collaboration with Microsoft using Azure OpenAI Service, offers a more advanced and natural conversation experience compared to traditional chatbots. Launched in February, it already supports 10,000 users daily and has received positive feedback on social media.
Future prospects
B3 is exploring ways to extend the reach of the AI assistant, for example by offering a widget that banks or brokers can embed on their websites. This initiative aims to increase investments in stocks and bonds, which is crucial for the growth of Brazil’s capital markets and economy.
According to a World Bank Reportstrong capital markets are essential for economic growth, supporting businesses and reducing poverty. B3 hopes more investors will consider Brazilian government bonds, which offer better returns than traditional savings accounts.
“We believe that financial education and new investors are directly related to improving Brazil’s economy,” Bariquelli said. “When you have access to capital, companies can grow, attract new employers and people can save.”
Top image: Christianne Bariquelli, B3’s chief education inspector, and Marcos Albino Rodrigues, B3’s director of architecture, data and technology innovation, helped develop the Brazilian stock exchange’s AI assistant that answers investor questions. Photo by Avener Prado for Microsoft.
Image source: Shutterstock