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We took interview with CEO Sanji Bakuti from Investify.ai new online company providing a convenient way to access the stock market. Sanji participated with his team in the accelerator in Dubai, at the end of which he reorganized the group, and finalized a product that was highly appreciated by Arab investors.

We took interview with CEO Sanji Bakuti from Investify.ai new online company providing a convenient way to access the stock market. Sanji participated with his team in the accelerator in Dubai, at the end of which he reorganized the group, and finalized a product that was highly appreciated by Arab investors. The platform developed by the team is a comprehensive service with the integration of artificial intelligence. We managed to talk and find out what was the point of interest for investors, and in the future, became for customers.

What is Investify? Why does the market need another stock company?

I would like to mention that it is not “another”. Indeed, the market is filled with companies that provide access to the stock markets, but in most cases they give you a hammer and do not say why, what to do with it, how to build your dream home. Moreover, often this hammer is from the Bronze Age, their tools are outdated, the speed of updating data on the websites of many companies lags significantly. This was acceptable in the age of SMS. But now with the development of technology in the market there are really not enough effective tools and services.

You want to say that Investify has some special quick analytics?

Not only. We did not stop at increasing the data transfer rate for our customers, we realized that we could take a place in the market among companies such as Invstr and Forge Global, only if we provide a truly unique product and add usefulness in the eyes of the client. So we invited Joyo Bani, a former developer of the Canadian AI Estafet, he looked at what we already had, an excellent database, well-tuned flows, and I remember he said then: Sanji, since you have everything done here, I can easily turn it into a thinking machine.

Thinking machine?

Yes, that’s exactly what he said. Thinking machine. In fact, the development of artificial intelligence is still far from ideal, no one was able to create the AI described by science fiction writers. But a machine that thinks, makes decisions, is based on the experience of hundreds of thousands of transactions – we were able to implement this in our project. We honed her for a long time. Often we had to make purchases ourselves in order to teach the car different behaviors and show her how really unpredictable a users can be. And this work was done, we were able to achieve a minimum error in its work, today I can say with confidence that AI poses a great threat to the stock markets employees from Wall Street.

Let’s get back to your product. You say that the machine will manage the bidding, is that right?

Not quite so, we well understand that the year is still 2019 and people aren’t ready to entrust major financial transactions to a mechanism that they cannot feel or see, you cannot phonecalle at night to the machine and say “Billy, where we lost our millions!” [laughs]. The machine takes the position of an adviser, it will prompt Investify client its forecasts, what it would do, what steps it seems to be right, and where it is worth to refuse the transaction. A lot of information from the media and reports is poured into the AI. It is a kind of oracle of the market, sees and hears everything more than a human can.

But human has intuition.

Yes. This is probably also why we are not taking the steering wheel from the clients hands. Client must remain the captain of his ship, and the final course is his choice.

What are the plans for the project now after the Seed round?

We are preparing a big update, it will primarily focus the interface, yet the one that we showed investors in the seed round was created for the most part by our technical team. Now we can afford to delve into the details, to do everything so that the client does not have that feeling “Oh, what does this button do”. Next, we want to increase the step of predictions – this is what we call the period that a machine can predict with high accuracy. There are plans to increase this period, if not with one variation of events, then with several. This is a difficult technical part, but we grow the team for the AI development department and now we are ready to cope with this task.

Are you planning another round of investment in your project?

At the moment I can’t say whether this will happen or not, we won’t refuse a private investor who shares our company goals, but the search for a new investment is not part of our roadmap today. First of all, the whole team and management have the great milestone is to bring the product to the ideal format, and add something new to it.

Maybe a few words about how startups like you will achieve the same success? All the same, an investment of several million, not everyone succeeds in achieving this.

I would like to advise them not to stop in front of complex products, often we are inclined to simple solutions of problems in aggregators. Yes, it is always more profitable, but mainly for investors, not for you. You must take on complex challenges, come up with complete solutions and create truly great products. If the Taj Mahal was made of four walls and a straw roof, I think it would not have such popularity.