Plus 32 more tools for those who want to try them all.
Generative AI and large language models have broken into the mainstream with ChatGPT, Claude, and Perplexity gaining popularity. LLM-driven tools are transformational. They have revolutionized consumer products and are now coming for the investment research industry.
Artificial intelligence is an extremely powerful and effective tool for equity research. In finance, AI solutions need to perform with a high degree of accuracy on complex topics, making specialized solutions imperative.
We made this list to help our friends, partners and users cut through the noise and find the best solution for them. Book a demo with us to see how we can elevate your workflow with finance-specific AI models.
Finance-specific tools using generative AI
We highlight 5 financial AI tools on the market to help transform the way you do investment research, with notes on their strengths and limitations.
More tools using AI, natural language processing (NLP), and machine learning
We also included a (non-exhaustive) list of AI and NLP tools available in the market. Some are not directly aimed for equity research and cover broader industry use cases. Our favourite platform is still Hudson Labs.
Want to track and summarize earnings calls? Check out our previous blog post.
280First is the pioneer of financial NLP tools and has been around since 2016. It is a financial services platform that analyzes unstructured data from various sources and produces insights. There may be a human-review step in their process but we’re not sure about this.
Arteria AI turns documents into data to drive automation and intelligence into core business processes. Its AI platform increases operational speed and efficiency in areas like trading, lending, and asset management, among others. Built for large enterprises.
Alkymi unlocks investment and market data with tools to understand, transform, and leverage it in your business. Its users are asset and wealth managers, and private fund managers.
AlphaWatch is an AI search and chat tool that supports multiple languages for PE, hedge funds, and data vendors. It can integrate with other forms of unstructured data like audio and video. Note that your data will be used to improve your AI workflows but can choose to opt out.
Aiera AI has advanced earnings transcript tools such as one-click live audio access, real-time transcription, keyword search, AI-powered Q&A, and advanced summarization.
Amenity Analytics provides an NLP platform to extract and classify relevant information for finance and trading teams. It provides insights on ESG and key drivers, with on-demand datasets from AWS. It is now part of Symphony, a large IT solution provider.
AlphaSense offers export calls, research, market intelligence, smart search, and sentiment scoring. Two more firms are now owned by AlphaSense:
- Sentieo provides a searchable database of public and private company data, documents, and news from relevant sources, along with integrated modelling tools.
- Tegus provides company and industry-specific KPIs and data, alongside customizable models and dashboards built and updated by a team of financial analysts.
Boosted.ai helps investment managers make better, data-driven decisions on stock research, idea generation, and portfolio management. These modules are linked together with its AI assistant Alfa. Another Toronto fintech!
Blue Fire AI’s Emmalyn analyzes risk patterns and trends in global markets, financial statements, and news flow in multiple languages. It also uses data visualization to contextualize information.
Canary Data - We have limited information about the AI component of the product but have heard that they specialize in short-selling data points and workflow. We’ve heard great things about their newsletters and user interface. The offering is at a higher price point and geared towards fund managers.
Daloopa automates users’ fundamental data and financial model updates. It can also build a new model from scratch or create industry comps.
Docalysis can process your uploaded PDFs and respond to prompts like ‘list all risk factors’ or ‘summarize all legal issues.’ It pre-loaded some 10-Ks but doesn’t cover earnings call transcripts or other SEC filings. It has a free plan.
EdmundSEC offers AI search and call summaries and can generate tables. It has a lower price point compared to tools on this list. However, it supports limited document types (no coverage of SEC comment letters or NT filings that Hudson Labs covers).
Finster AI reads, cites, and presents data for rapid decision-making and investment analysis. Sample use cases include earnings analysis, ESG and sustainability reporting, and investment thesis analysis.
Linvest21’s AlphaCopilot helps automate investment research and portfolio management. It also offers an agentic Financial Advisor with tax-smart capabilities and an Agentic Engineer to automate coding and development. The product seems to be in beta.
Nosible provides data-driven portfolio insights to help equity investors communicate how their portfolios are different/unique. They have extensive visualization and data libraries.
New Constructs provides data, reports, ratings and alerts on stocks, ETFs, mutual funds, and debt issuers, as well as screening and direct access to their databases. It also offers API & Excel add-ins.
openBB is an AI-powered research and analytics workspace. It integrates, visualizes, and analyzes data (including your own files). It is free for individuals and offers an Excel add-in.
OneVest is a tech platform for everything wealth management. It focuses on operations and client experience, instead of investment analysis. Another Toronto fintech!
Portrait Analytics is an AI platform built to help generate and research investment thesis.
It has a clean and interactive UI that embeds price charts.
Quilt Labs provides qualitative analysis for public equities and credit, private investing, and mutual funds. It can integrate public, third-party, and private user data. It partners with Visible Alpha (part of S&P Global) for sell-side information.
Quantly offers in-depth analysis for fundamental research into earnings and company reports. It covers 99% of the global public market cap, with data from Bloomberg and S&P. Users can incorporate their own data via PDF or CSV.
Quartr is an AI research platform that provides access to live earnings calls, transcripts, filings, slide decks, consensus estimates, etc. It provides a mobile app and an API for data access.
Quill AI is an AI-powered SEC filing platform. The user can extract information from filings, transcripts, and investor presentations using search and question.
Roic.ai provides comprehensive company summaries, 30+ years of financial statements, and call transcripts. We have no clue how they use AI but, let’s be real, who cares.
Sibli processes unstructured data and identifies key insights for portfolio managers. Some analysis include company report creation, investment signal generation, geopolitical analysis, and thematic research.
Toggle Terminal can answer prompts on multiple asset classes, including equities, FX, and futures. Users can screen securities, explore relationships between organizations, or analyze company earnings.
Tenzing Memo focuses on company intelligence from both filings, news, and investor deck information. It has an ‘AI analyst’ Q&A function. The product is in beta and available for professional use only. It only covers ~5K firms and might lack micro cap coverage.
TheSEC.AI provides real-time insights from SEC filings into actionable intelligence (only for 10K, 10Q and 8K). It is tailored to and only available to retail investors.
Uptrends.ai offers AI-customizable stock market news alerts that track trending stocks and major events. It also generates sentiment indicators using language models. Uptrend’s founders are computational linguists and computer scientists.
Vianai’s “Conversational Finance” is built on the hila platform, with an agentic approach to improve enterprise operations (FP&A and LLMOps). It generates nice and clean visualization in the output with the ability to integrate with user data. However, it’s not trained on financial documents.
Bloomberg, FactSet, CapIQ, LSEG (formerly Refinitiv): All major capital market research platforms use AI, ML, and NLP, to some extent, in order to extract and summarize information. FactSet and Bloomberg also provide various sentiment and linguistic indicators. These tools use a human-in-the-loop methodology for information extraction, which improves accuracy and reliability. Bloomberg recently published a paper on their generative LLM, BloombergGPT, which is not yet being used in production.
Learn about how Hudson Labs models compare to:
- Generative chatbots
- BloombergGPT (towards the bottom of the article)
In case you missed our recent posts:
- Hudson Labs featured in Forbes for detecting SMCI risks two years before the stock crash
- Tech firms are still obsessed with AI, with 7 times more mentions than in 2022
- New revenue from Gen AI. To quantify or not to quantify?
