Israeli regulator gives AI chatbot go-ahead to provide stock-picking advice

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The Israel Securities Authority (ISA) has cleared Bridgewise to launch the bot, called Bridget, with Israel Discount Bank later this month, according to Bloomberg.

Bridget can offer recommendations for which stocks to buy and sell in response to user queries but cannot offer advice specific to the customer, an ISA spokesperson tells Bloomberg.

Gaby Diamant, CEO, Bridgewise, says: “It’s ChatGPT, but with a financial edge. We’ve done everything in a calculated way, with the regulators involved end to end.”

The startup is working with a second Israeli bank and retail trading platform in Brazil, and is also planning to introduce 12-month share price forecasts, earnings call transcripts and help for users building custom themed portfolios.