Highlights:

  • According to Vianai, the underlying LLM of hila is taught using verified datasets for companies in the S&P 500 and the NIFTY 50, which include items like earnings transcripts, financial statements, revenue statements, and balance sheets.
  • hila has built-in protections because it always cites its sources and the texts from which it derives its insights, along with a confidence rating for each assertion.

An artificial intelligence (AI) chat assistant for institutional and retail investors, investment banking analysts, and other professionals has been introduced by human-centered AI company Vianai Systems Inc.

The virtual assistant, named “hila,” is currently in beta and accessible for free. According to Vianai, it will raise the bar and set a new standard for conversational AI as it can meet real business requirements.

hila has been created to handle a business use case that requires utmost accuracy as it is built on a large language model. It offers AI-generated insights for investors that are founded on trustworthy and reliable data from thoroughly vetted sources, managed by a patent-pending technology that seeks to do away with problems with AI “hallucination,”. It is considered as a “hallucination” when AI assistants occasionally fabricate answers even though they don’t have the data to give a factual response.

According to Vianai, the underlying LLM of hila is trained using verified datasets for companies in the S&P 500 and the NIFTY 50, which include items such as earning transcripts, revenue statements, financial statements, and balance sheets. Every week, new financial data, business data, and companies are added to the model, improving it subsequently. Investors can use it to surface quick and useful insights for use in due diligence, getting ready for earning calls, making investment choices, and more.

hila has built-in protections because it always cites its sources and the texts from which it derives its insights, along with a confidence rating for each assertion. This is crucial, in Vianai’s opinion, as it removes the need for analysts to support the crucial information on which they are basing their judgments.

When it comes to analyzing things such as business earnings announcements, conference calls, and videos, Andy Thurai, Principal Analyst and Vice President of Constellation Research Inc., reported that AI had surprisingly little effect. The majority of this information, according to him, originates from unstructured data, such as audio, video, and PDF files.

“Vianai’s hila aims to solve this problem, enabling financial analysts to ask questions about very specific items from call scripts, 10K documents, income statements, cash flow, and balance sheets. While hila is still in beta mode, it seems to do a decent job with these kinds of searches. Another benefit is that analysts can upload their own PDFs and search for specific items inside of those,” Thurai added.

One of the main reasons why almost 2,000 investors have already started using hila since its debut in a private beta test, according to Vianai, is its reliability. hila has been used by early adopters to assess management objectives and sentiments, find analyst concerns, inquire about quarterly profits, and more.

An analyst at Maverick Capital Ltd., Mike Ostroff, mentioned that hila has significantly enhanced his research work. “I can rapidly search 10-Ks and earnings calls to find if anything related to my thesis is hidden inside. More importantly, I can do it quickly without wasting time skimming irrelevant topics or pinpointing keywords,” he added.

hila will soon get updated with more sophisticated, premium features, such as the ability to add user-uploaded papers and data to its dataset, according to Vianai.