Mirae Asset Publishes AI-Generated Corporate Analysis Reports
Increasing Services Providing Corporate Analysis and Investment Information Using AI
Need to Establish Risk Management Systems and Train Professionals
With the advent of the artificial intelligence (AI) era, securities firms are actively leveraging AI to strengthen their competitiveness. As the use of AI is expected to expand into various fields, there are opinions that risk management systems and the training of specialized personnel must accompany this expansion.
According to the financial investment industry on the 9th, Mirae Asset Securities recently published reports generated by AI analyzing the quarterly earnings of companies such as Apple, Starbucks, and ExxonMobil. These reports were created through an AI agent independently developed by utilizing the expertise of Mirae Asset Securities' Research Center and AI know-how, and were published after being reviewed by analysts. Mirae Asset Securities' AI research automatically acquires and verifies key data from disclosure materials, analyzes it, and uses AI models to perform short-term forecasts and evaluations of announced earnings. It also has the capability to automatically generate draft reports, graphs, and tables using generative AI. Through AI, the time required for analysis and report writing, which previously took about five hours after a company's earnings announcement, has been reduced to within 5 to 15 minutes. A representative from Mirae Asset Securities stated, "We plan to significantly increase the volume of analytical reports using AI technology in the future and improve the quality of analysis through continuous learning," adding, "We will continue to actively utilize AI technology to meet the diverse investment information needs of our customers."
Earlier, Korea Investment & Securities and Eugene Investment & Securities also developed and are utilizing AI analysts.
KB Securities launched the 'Stock AI' service in March, which provides interactive, customized investment information using generative AI. Stock AI is an enhanced version of the employee-only service 'Stock GPT' released in January, now available to customers. It is a conversational (chat) technology-equipped service that explores real-time investment information in the stock market and delivers it in natural language form. Investors can receive personalized answers to various problems they may face during investing through this service. While there have been services in securities firms that provide investment information unidirectionally using generative AI technology, Stock AI is the first to offer such information in a conversational format.
NH Investment & Securities introduced the 'GPT Newsletter Service' in July last year. The GPT Newsletter classifies recent news of the top 10 stocks by view count as of the previous day's market close into categories such as stock price issues, management and financial information, and new technologies and competitiveness.
Major overseas investment banks (IBs) are also actively utilizing AI. Morgan Stanley became the first Wall Street IB to launch a customized AI model based on GPT-4 called the Morgan Stanley AI Assistant (AI@Morgan Stanley Assistant), and JP Morgan developed its own 'Hawk-Dove Score (HDS)' using GPT-4 to predict the policy direction of the Federal Reserve Bank.
Jisoo Jeong, Senior Researcher at the Korea Capital Market Institute, said, "The use of generative AI such as ChatGPT in the capital market is possible in various areas including corporate analysis and customer support, and it has some effect in predicting the returns of financial products, but there are still many technical limitations."
As generative AI is expected to be used more broadly in the future, there are opinions that risk management systems need to be established and specialized personnel trained. Senior Researcher Jeong said, "In the domestic capital market, the focus is mainly on the use or development of ChatGPT-related technology, and governance for risk management has not been concretized," adding, "A clear risk management system is necessary to prevent the exposure or misuse of personal and corporate information." He continued, "Among the information provided by AI, there are incorrect facts or biased information, and damage can occur from using this information. Therefore, digital literacy education (appropriate understanding and utilization capabilities regarding digital technology) should be prioritized to enable correct understanding and judgment of data, and the training of related specialized personnel must accompany this."
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