WealthManagement - The AI Future of Finance Is Now

Jan Szilagyi, CEO and co-founder of Toggle, created a cloud-based AI application with its own machine learning and natural language processing algorithms that were built in-house and looks at millions of pieces of data for its users and comes back with thousands of points of interest, called Toggle Insights, each day.

I wrote about Toggle, which shares many similarities (at least from the outside looking in) with Portrait, back in August. It already has a far wider and more varied user base that includes hedge funds, banks and professional investors. It also has a wait list for its own generative experience, expected in the next few months.

Szilagyi’s team is currently at work “teaching ChatGPT how to invest—not hallucinate … [giving it] a crash course in finance,” as it states on Toggle’s homepage.

“The exciting frontier we are at now—and it is unbelievably exciting—is that we are able to have two-way communication, you’ll be able to ask follow-up questions,” said Szilagyi, referring to the addition of generative AI with its language models to the already built and working ML and NLP technology under Toggle’s hood.

He said advisors can ask the system, for example, about impacts on a client portfolio if the yield curve inverts and immediately get a response back along the lines of: “Here are the most vulnerable parts of your portfolio.”

“You can then respond with another what if, you’ll be able to control it simply by being able to articulate the question—it will provide an unparalleled ability to take the English language and convert it into computer code,” said Szilagyi, adding that it was akin to having a digital Rosetta Stone and being able to not just read or translate hieroglyphics but in turn write them as well.

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