Counting from the medical, education, and service industries, artificial intelligence has been integrated into various fields and has become the driving force behind many companies’ sustainable growth. However, it has especially been difficult for AI to be actively utilized in the financial industry. Most of the attempts are focused on financial technologies and strategies that can produce excess profits, and it is common for these to be used by firms like Bridgewater and Renaissance Technologies, which built their own business structure for managing their private wealth or a niche client segment.
Alan Jo, CPO of Qraft Technologies, sought to understand the principles and applications of AI and expand its role in the financial industry. Accessible AI strategies in the financial industry would allow many people to access democratized investing in an efficient market. As an innovator, Jo also wanted to be with teammates that possess mutual standpoints, which is said to be the main reason that led him to Qraft Technologies. After countless endeavors, Qraft Technologies currently provides customized investment solutions based on distinctive AI technology.
More than just providing an investment scheme, he is responsible for overseeing the development of an investment platform, which will establish a service marketplace that will be accessible to a broad client segment for various purposes but with the same mission: bringing efficiency and scalability to tasks that required higher-level thinking. As such, even though the company is in the start-up stage, Qraft’s researchers continue to collaborate and challenge themselves to initiate projects that are deemed to innovate the conventionality of the financial industry. An AI trade execution project overseen by Jo, which is currently used by several brokers in Korea on behalf of the National Pension Service, was the basis of Softbank's 170 billion won investment in early 2022.
While Qraft's solutions may still seem unfamiliar, they will continue to present new perspectives to the financial industry, breaking the conventionality that has long failed to keep pace with the changing times.