Shinhan Financial Group Partners with Canadian AI Company to Enhance AI Investment Advisory Services

[Asia Economy Reporter Haeyoung Kwon] Shinhan Financial Group announced on the 18th that it has begun joint research and development with Canadian AI software solution company Element AI to advance 'NEO,' an artificial intelligence (AI)-based investment advisory platform developed by Shinhan AI.

Shinhan AI was established last year to consolidate Shinhan Financial Group's AI capabilities. Through the AI investment advisory platform NEO, Shinhan AI provides analysis of major global markets and asset allocation portfolios to group companies. In January, it rapidly expanded its business by launching public funds and wrap account products advised by AI.

Element AI is an AI startup founded by CEO Jean-Fran?ois Gagn? along with Yoshua Bengio, a professor at the University of Montreal and founder of the Mila research institute, among others. It is a global AI solution provider recognized for its technology and potential, having attracted investments from leading IT companies such as Microsoft, NVIDIA, and Tencent.

Shinhan Financial Group and Element AI have been continuously discussing collaboration since signing a memorandum of understanding (MOU) in May last year, and through this research and development, they plan to develop the next-generation version, 'NEO 2.0.'

Shinhan Financial Group plans to combine the NEO system, which integrates the group's specialized financial knowledge, with Element AI's proprietary deep learning technology to further enhance the AI system's performance and provide customers with high-quality investment advisory services and differentiated value.

A Shinhan Financial Group official stated, "This research and development will strengthen Shinhan Financial Group's AI technology, enabling differentiated competitiveness in the financial market. Starting with collaboration with Element AI, which possesses world-class technology, we plan to cooperate with various global companies."

This content was produced with the assistance of AI translation services.