The latest technology news in the wealth management sector from around the world.

OCBC Securities, part of Singapore-headquartered Oversea-Chinese Banking Corporation has launched “AI Oscar,” which it said is the first artificial intelligence-powered stock picker tool.

The new tool can, OCBC says, “predict stock price movements and generate hyper-personalised stock ideas.”

AI Oscar’s coverage has widened to the Hong Kong and US markets after a pilot project took place between October 2023 and April 2024.

OCBC said the offering, which is free for all OCBC Securities’ customers, is available via the iOCBC app, iOCBC online trading platform and email.

AI Oscar identifies and predicts market patterns to understand an investor's trading patterns. Factors such as the individual’s risk appetite, past trading activity and demographic information are analysed to curate and produce a list of 15 “hyper-personalised" stocks every week from exchanges in Singapore, Hong Kong and the US – the top three markets in which OCBC Securities customers trade. 

The banking group said that last year, among trades made by people under 35 years, 97 per cent were done via digital platforms without help or advice from a broker. OCBC added that the offering is a way for it to connect more with younger investors.

Trading activity among young investors under 35 increased 50 per cent during the pilot period compared with the months preceding the pilot of AI Oscar in 2023.