Interactive Brokers’ IBot gets to learn traders’ phrasing style
The AI solution will perform better in situations where it is not certain what the trader is asking about.
As FinanceFeeds has earlier reported, electronic trading major Interactive Brokers Group, Inc (NASDAQ:IBKR) is working to enhance the algorithms behind natural language solution IBot. The latest beta version of Trader Workstation (TWS), the proprietary trading platform developed by Interactive Brokers, will enable IBot to learn the phrasing style of a particular trader.
This skill will be especially useful in uncertain situations, that is, in situations where the robot is not certain what the trader is asking about. In cases where there is more than one interpretation of one’s command, IBot will ask the trader to choose among a number of options. The selection will be remembered, and will be used to improve IBot’s comprehension. In short, the IBot will gradually learn one’s phrasing style.
Cases when the bot encounters an unsupported command are something normal. AI solutions have to be trained on a regular basis to boost their area of expertise. Typically, if IBot gets an unsupported enquiry, a “Potentially misunderstood” warning message is returned, accompanied by a best-efforts result.
Overall, the solution supports a grand variety of commands, ranging from “Buy 300 more shares” to “Show my account margin”. IBot also assists traders in scanning the markets for, say, the most active US shares. The solution also offers information on market depth, helps work with option chains, simplifies work with calendar, etc.
Earlier in 2017, Interactive Brokers integrated its website search with IBot to allow educational and task-based returns. Thanks to the enhancement, IBot got able to answer such queries as “How do I fund my account?” and “How do I transfer funds?” by returning the top five best information links from Interactive Brokers’ website.
IBot was first launched in the autumn of 2016 with the purpose to provide a natural way to trade. Using “natural language” means that traders are able to escape from the disadvantages that come with a standard interface, as they are able to speak (or type) commands without worrying about the precise wording.