Interactive Brokers’ IBot makes traders’ “Next Steps” more useful
IBot gets to learn from the most popular “Next Step” actions and adapts in order to offer these to traders, making their search for information and trading experience more efficient.
Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) continues to add capabilities to its natural language solution IBot. The latest (beta) version of Interactive Brokers’ proprietary TWS platform sees IBot become better in offering “Next Step” actions to traders.
Traders are set to notice that the “Next Step” actions they are offered after a command become more and more useful to them. This is because IBot is now keeping track of the most popular “Next Step” actions, and as it learns it will offer these to traders at the top of the list to make their trading experience even more efficient.
For instance, if a trader asks to see the price of AAPL, the current “next steps” might be Show Chart, Buy, Sell, Tell Me More. After collecting data of most popular next steps following a price inquiry, the next steps might change to be Buy, Show Chart, Show Analyst Rating, Tell Me More.
This is another in the latest series of enhancements made to IBot. The solution is also learning the phrasing style of a particular trader. This skill is helpful 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.
Earlier in 2017, Interactive Brokers made a move to enlarge the scope of enquiries that IBot may respond to by integrating its corporate 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 introduced in the autumn of 2016 with the aim to offer a natural way to trade. Using “natural language” means that traders are able to avoid the typical disadvantages that come along with a standard interface, as they are able to speak (or type) commands without worrying about the precise wording.