The Nigerian Stock Exchange has adopted artificial intelligence in its operations as it launched a bot, named X-Bot.
In a statement from the Exchange, the AI-powered chatbot responds directly and automatically to enquiries through Facebook Messenger.
It said the X-Bot was designed to provide market participants, especially retail investors, convenient, faster and real-time access to data and information from the Exchange.
The Chief Executive Officer, NSE, Mr Oscar Onyema, noted that the introduction of the chatbot was in line with the Exchange’s drive to improve market participation through greater access to market information.
He said, “We aim for an exchange that is easily accessible and actively matches investors’ increased thirst for information and detailed disclosure information to make sound investment decisions.
“With X-Bot, investors in our market can access on-demand market information, news and events on the activities of the Exchange and the various products and instruments that are listed and traded on it.
“The Exchange has always been at the forefront of innovation and the launch of the X-Bot marks yet another significant milestone in our continuous adoption of new technologies with a customer-centric focus to make financial services more inclusive and to provide a superior customer experience in the access and use of capital.”
The Head, Regulatory Technology, NSE, Mr John Adelana, stated that customer experience was a key priority for the NSE.
He said the bourse was deeply committed to constantly improving customer experience, adding that with the launch of X-Bot, the NSE would become the first African securities exchange to launch a customer interactive machine learning chatbot.
According to Adelana, the chatbot contributes to facilitating and accelerating the process of providing information to market participants.
He said, “We are particularly excited about the ability of X-Bot to learn through customers interactions and become better at providing our customers with more relevant and timelier solutions over time.”