Selma introduced an AI into its app!

Baptiste Wicht

The Poor Swiss
Staff member

I thought this news could be interesting to some of you: Selma AI was just introduced!

Selma (a robo-advisor) just launched an AI inside its app. This AI is based on the OpenAI Large Language Model (LLM) technology, which also powers Chat GPT. So, they are using state-of-the-art technology. They can also feed their own data and algorithms to the AI to tailor them to their needs.

I think it's an interesting development. We will likely see more of these in the future. But seeing how AI is popular these days, it makes sense to integrate it more into the products.

What do you think about that?

For more information, you can read about it in my review:

The chat might be interesting for getting some high-level feedback on the financial status. But for me that would be it with the benefits. There won't be better selection of assets and also the most beautiful interface/experience doesn't remove the fees you have to pay for the service overall (too much imo).
I also think the asset selection won't be better. And I agree that fees are the biggest issue here. But at least this adds some extra value to existing customers, but should not be major criteria for switching to Selma.