XTB AI Department

XTB Elevates Retail Trading Through New AI Department!

XTB is intensifying its focus on artificial intelligence (AI) solutions. The company, XTB, recently announced the establishment of a dedicated AI department, aiming to leverage AI to democratize data access and enhance user experiences.

The newly formed AI department, a subdivision within the existing Technology & Product department, will spearhead the responsible adoption of AI solutions across XTB’s business operations and trading platforms. Tomasz Gawron, an experienced programmer specializing in robotics, is the Head of the AI department.

Adam Dubiel, Chief Product and Technology Officer at XTB, emphasized that AI would not only optimize efficiency and data analysis but also play a pivotal role in supporting customer onboarding and boosting employee productivity. “As a fintech company with a global customer base, we strive to be at the forefront of our industry amid AI and machine learning disruption,” Dubiel stated.

XTB Elevates Retail Trading Through New AI Department and Leadership

XTB’s AI team is going to focus on developing new technologies, testing and validating them, and staying abreast of the latest trends in AI. Over 40% of XTB’s team is already comprised of programmers and technical staff, showcasing the company’s commitment to technological advancements.

Tomasz Gawron, the newly appointed Head of the AI department, shared insights into the company’s vision, stating, “We plan to use AI to democratize access to data and personalize user experience.” Gawron, who previously worked at Wunderman Thompson Commerce & Technology, shared the goal of a world where personalized insights are generated in real-time.

While acknowledging the inherent risks associated with AI, Gawron emphasized that the initial impact on end-users would be indirect, manifesting through improved and personalized news coverage on the platform. XTB aims to mitigate the challenges by focusing on prototyping and testing new products made possible by AI.

Investors are keenly watching the developments, particularly in the context of XTB’s recent financial performance. Third-quarter results indicated a 29% decline in revenues to PLN 121.1 million due to reduced market volatility. In response, XTB has been diversifying its offerings, including the introduction of up to 5% interest on idle deposits for clients and expanding access to fractional shares.

Gawron acknowledged the transformative potential of AI, stating, “While AI is a hot topic now, what customers want is a great product. AI can help with that, but adding AI everywhere without ensuring it enhances the experience is a dead end.” XTB’s foray into AI marks a bold step toward shaping the future of retail trading through cutting-edge technology and innovation.

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