Since its pilot in October 2023, where the tool only shortlisted Singapore-listed stocks, AI Oscar’s coverage has now expanded to include stocks listed in Hong Kong and the US.
According to the brokerage, the tool is said to help young investors “with a penchant for self-directed investing”. Out of all the trades performed by customers under 35 in 2023, OCBC Securities reported that 97% were made through digital platforms without the help or advice of a broker. Additionally, trading activity among young investors under 35 increased by 50% during the pilot period compared to the months preceding the pilot of A.I. Oscar last year.
In line with meeting this demand, AI Oscar is aimed at young investors interested in self-directed investing alongside OCBC Securities’ goal of tripling the total number of active customers in this segment over the next three years.
“Investors already have access to a wide range of information, but the challenge lies in being able to find the information relevant to them, and to distil it into an actionable trading idea,” says Wilson He, managing director of OCBC Securities.
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“Our trading representatives have found A.I. Oscar to be useful too as the stock ideas generated can serve as a starting point for discussion between our trading representatives and customers,” he adds.
