Superhero deploys its first user-facing AI tool

Superhero, an investment platform and wealthtech developer, has launched the company’s first customer-facing artificial intelligence (AI) integration, promising a “richer experience for investors to better research the companies they’re invested in”.

The capability, which Superhero confirmed is among the first phase of AI rollouts across its platform, enables investors to read AI-generated summaries of Australian-listed company announcements.

Upon selecting an ASX announcement within the Superhero platform, users will be given an AI-generated summary of the release “usually within a few seconds”. They will then be given the option to continue on to the full announcement.

Chief technology officer and co-founder of Superhero Wayne Baskin said the new feature “will make it easier for investors to keep abreast of announcements and events relevant to their holdings by providing a simpler summary of sometimes complex announcements”.

“As we look to future product development, we see Superhero’s use of AI as an enabler to deliver better outcomes for our customers, including providing deeper portfolio insights, personalised investment discovery and potentially financial advice.”

Baskin said the company has been leveraging AI within the business “for some time”, adding that there are “a number of features in the pipeline for public release in 2024”.

Superhero, a mobile app-based share trading platform, launched in late 2020 promising an “affordable, accessible, and understandable” way for Australians to trade shares.

Superhero Super was subsequently launched in July 2021, enabling users to invest their superannuation in their chosen shares and ETFs.

Earlier this year, the company deployed its adviser platform, allowing financial advisers to offer Superhero investment and wealth management services to their clients.