Forex is the largest trading market in the world moving 2.1 quadrillion dollars annually. In case you don't know what a quadrillion is, it is 1,000 trillion - Yes, Spotware Systems is one of the largest trading platforms in a market moving 2,100 trillion dollars annually, and they just partnered with AINIRO to deliver AI-based customer support chatbots for their clients using our ChatGPT chatbot technology.
Spotware's trading platform cTrader is one of the most popular trading platforms in the world in this space, and it's now being powered by AI support, based upon our ChatGPT technology - So it could be argued that AINIRO is now helping out moving 2.1 quadrillion dollars each year.
Try out their AI support chatbot below, and ask it about cTrader, or anything related to their trading platform, company, or Forex trading in general.
Spotware had some unique problems we had to tackle. Among other things they've got thousands of visitors on their website every single day, so we needed to stress test their chatbot to make sure it was able to handle such amounts of traffic.
Building an AI chatbot for a website with 500 visitors per month, and building a chatbot for a website with 100,000 visitors per month are two very different tasks
The website itself contained very high quality data, but was unfortunately a SPA, so we had to be "creative" when we created their machine learning model. Fortunately Spotware had the raw documentation files in a structured format, allowing us to easily import these into their cloudlet, providing high quality answers. Their images and screenshots were obsolete, but it was not important for Spotware to display images in the chatbot in the first version, so we manually removed images from their model after import. Later when they've got high quality images for their latest version of cTrader, we'll of course implement these into their machine learning model.
Integrating the chatbot into cTrader
Spotware have plans to implement their AI chatbot directly into their primary product, which implies our chatbot will have to be able to handle millions of users every single week. There are probably less than 0.1% of ChatGPT website chatbots on the planet able to handle such amounts of traffic today, but together we're confident that we'll be able to scale our technology to such heights.
Once we've integrated the chatbot into Spotware's primary product, it could be argued that our chatbot is helping traders with their decisions related to 2.1 quadrillion dollars annually. Obviously, security is imperative when dealing with such numbers.
It was very important for Spotware that the chatbot was GDPR compliant, which ours is out of the box, since it does not send any private data to OpenAI at all, but routes all traffic through our Kubernetes cluster, where private data is stripped from the request before the question itself is sent to OpenAI and ChatGPT.
For OpenAI all requests are coming from our servers, and they have no access to users' private data at all, making our ChatGPT chatbot 100% GDPR compliant!
In addition it was crucial for Spotware that the chatbot does not give trading advice. Forex and CFD instruments are heavily regulated, and providing trading advise might be perceived as misguiding users, so this had to be turned off to ensure compliance towards CySEC, FCA, and the other government organisations Spotware have to deal with related to regulations and compliance.
In addition, to simplify GDPR compliance, Spotware didn't want the chatbot to collect personal information at all. We can easily do this, while still being GDPR compliant. We can for instance generate leads, collect names and emails, and have the chatbot sell products and services - But Spotware wanted a 100% "customer support type of chatbot", and didn't want to leverage our lead generation features to simplify GDPR compliance and eliminate any doubt.
Spotware leading this space
This makes Spotware arguably the leading trading platform provider in the world, now leveraging AI to reduce customer support costs, and automate their help system. Research into this area shows that an AI chatbot can reduce on average 30% of customer support costs. However, our chatbot have a lot of unique traits that can reduce costs up to 80%.
This implies if you've got 10 full time employees working full time with nothing but customer support, and you're paying these on average €3,000 per month, you could in theory save €24,000 per month by using a high quality chatbot such as ours. Spotware being one of the largest trading platform vendors in this space, having 70% of all 243 CySEC regulated Forex brokers in Cyprus alone as clients, obviously knows this, and intend to take advantage of such automation.
69% of your users prefers AI chatbots because it gives them instant answers according to IBM!
An AI chatbot understanding 90+ Languages
In addition the Forex market is a highly international market, with traders speaking Mandarin, Japanese, French, German, Spanish, Portugese, and all languages you can imagine. Our AI chatbot technology can easily be configured to answer in whatever language the user phrases his or her question in, resulting in that you no longer need to hire multilingual support technicians to handle customer support. The savings here should be obvious.
AINIRO - Your Forex AI Partner
When Spotware needed an AI chatbot it was of course important for them to chose a vendor that knew a lot about the Forex market. We've got almost a decade worth of experience with the Forex and FinTech market, making us the obvious choice for them.
Forex is heavily regulated, and one wrong step can literally break a broker. With our unique Forex experience, coupled with our unique AI experience, the choice was obvious for Spotware. They simply couldn't afford making a bad choice here, since the stakes were simply too high.
Last year alone several Forex CEOs were literally arrested in Cyprus, and several Forex brokers went bankrupt because of violating regulations, sometimes without even realising what they were doing. Having an AI chatbot vendor with almost a decade worth of software development experience in the Forex market, is obviously an advantage. If you want to talk to us about how we can help you with embracing AI, you can contact us below.
If it's good enough for one of the largest trading platforms on earth, arguably moving a substantial portion of 2.1 quadrillion dollars annually, with millions of users on their web-based platform each week, it's probably good enough for you too ...