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AI is changing the game in many industries and the financial world is no exception. Investing platforms powered by AI like Streetbeat are using smart algorithms and machine learning to offer personalized investment strategies. These platforms are making it easier for both new and experienced investors to make decisions based on data and manage their portfolios in real time. The global AI in finance market is expected to reach $26.67 billion by 2027, which shows just how much AI is growing in this space.
Another great example is Betterment, a leading robo-advisor, which uses AI to optimize investment portfolios. Betterment even reported a revenue of $278 million in 2023 which shows just how successful AI-powered platforms can be.
In this blog, we’re going to walk you through how to build your own AI investing platform. We’ll break down everything from the tech behind these platforms to the key features that make platforms like Streetbeat and Betterment so effective. Let’s begin!
Overview of the Streetbeat Platform
Streetbeat is a super cool AI-powered investment platform that makes investing simpler and more automated for everyday investors. It uses advanced technology like algorithmic strategies, generative AI, and natural language processing to provide personalized investment advice and detailed market analyses.
Key Features of Streetbeat
- AI-Powered Advisor: Streetbeat’s AI looks at real-time market data, news, mergers and analyst ratings to help create and manage portfolios that are tailored to each user’s goals and risk level.
- Customized Portfolios: Users can easily build their personalized investment strategies with tools like ChatGPT, which makes creating a custom portfolio in just minutes a breeze.
- Pre-Built Portfolios: For those who prefer ready-made options, Streetbeat has thematic portfolios like “U.S. Congress Buys” “Generative AI Revolution” and “EcoGrowth Titans” that cater to different investment interests.
- Manual Trading: If users enjoy taking a hands-on approach, they can also trade U.S. stocks and ETFs directly on the platform.
- Integration: Streetbeat can now be integrated with users’ Robinhood brokerage accounts, making it easy to manage all investments in one place.
Key Market Takeaways for AI Investing Platforms
According to GrandViewResearch, the global market for AI in fintech, which includes AI investing platforms, was valued at $9.45 billion in 2021 and is expected to grow by 16.5% annually from 2022 to 2030. So why is this happening? Well, there are a few reasons.
Source: GrandViewResearch
First off, AI is becoming super popular for things like fraud detection, risk management and personalized financial advice. Since AI can handle huge amounts of data, it can make much more accurate risk assessments and predictions.
This makes both customers and companies happy because it improves the overall experience and efficiency. AI investing platforms often partner with fintech companies to automate workflows, improve decision-making and offer tools like chatbots and virtual assistants that really add value.
Some well-known examples of AI investing platforms are eToro, which is big on social trading, Wealthfront, which handles automated investment management and TuringTrader, which focuses on using AI for long-term trading strategies. There are also some exciting partnerships in this space.
For instance, Vanguard has a robo-advisor that uses AI for market insights while J.P. Morgan owns Nutmeg, which is an app that uses AI to manage portfolios. These collaborations are shaping the future of investing and showing just how powerful AI can be in the finance world.
A Perfect Time to Invest in AI Investing Platform Development
If you’re thinking about launching an AI investing platform like Streetbeat, now might be the perfect time. More and more people are looking for smarter, data-driven ways to manage their investments. With AI technology getting better every day, platforms that use algorithms to make investment decisions can offer a level of precision and personalization that traditional methods just can’t match. Investors want tools that can help them optimize their portfolios without all the guesswork, and AI-driven platforms are a perfect fit for that.
Take platforms like Ellevest and Acorns for example. Ellevest uses AI to create personalized investment strategies, specifically designed for women. It’s been growing rapidly and now manages over $1 billion in assets.
Then there’s Acorns, which rounds up your purchases and invests your spare change automatically. It’s attracted over 9 million users and manages more than $3 billion in assets.
The fintech space is booming and platforms like these have a big advantage because they use AI to make smarter, faster decisions. Whether you’re a beginner or an experienced investor, these platforms can offer valuable insights.
As these platforms continue to grow, they also have huge potential for generating revenue through subscriptions, premium features, and partnerships. With the demand for smarter financial tools only increasing, launching an AI investing platform could definitely be a profitable move.
Business Model of the Streetbeat Platform
Streetbeat is an innovative AI-powered investment platform that aims to make sophisticated investment strategies available to everyone. Traditionally, these strategies were only accessible to the wealthy. But Streetbeat is changing that by offering a range of features that simplify and automate investing for regular retail investors, wealth managers, and brokers.
- Algorithmic Trading Strategies: Streetbeat uses data-driven, algorithmic strategies to help users find opportunities and tackle investing challenges. These smart strategies help users navigate the ups and downs of the market more effectively.
- Manual Trading: If users prefer to take control of their investments, Streetbeat lets them trade U.S. stocks and ETFs directly through the platform.
- Customized Portfolio Strategies: Thanks to ChatGPT, users can personalize their investment strategies with natural language processing technology. It’s a great way for people to build portfolios that match their personal goals and risk tolerance.
Revenue Streams
Streetbeat mainly makes money through a subscription model. There are a few different account types to cater to various needs:
- Premium Account: This tier costs $19.99 per month or $119 per year (about $9.92 per month) and gives users access to all the advanced features and AI-driven tools.
- Gold Account: For $159 per year (or about $13.25 per month), users get a plan that doesn’t have management fees, which is great for people looking for long-term investment options.
- Basic Account: The basic account is just $3 per month, but it does come with a 0.2% management fee for those looking to keep costs low while still getting a taste of Streetbeat’s offerings.
These subscription fees, along with management fees for some accounts, are the main sources of revenue for Streetbeat.
Financial Performance
As of January 2023, Streetbeat raised $12 million in funding and was pulling in $1.1 million in annual recurring revenue. What’s even more impressive is that the platform saw a 1,100% year-over-year growth, which shows just how fast it’s growing. With over 30,000 paying customers and around 4,000 core customers, Streetbeat is clearly gaining a lot of traction. The AI-driven approach is working and resonating with retail investors.
Funding Rounds
Streetbeat recently secured investment from 3Lines Venture Capital’s Orbit Fund, although the exact amount raised wasn’t disclosed. This funding will likely be used to enhance their AI technology and expand the platform’s reach, helping them stay competitive in the fast-growing AI fintech space.
Impact and Growth
Streetbeat is seeing great success, with over 80% of its users reporting profitability, and trading volumes are up by more than 20%. The company has set its sights on a $300 billion total addressable market, which shows how big the potential is for growth.
AI and Technology
At the heart of Streetbeat’s platform is cutting-edge AI, including its Wealth Copilot and AI Agents. These tools provide real-time market insights, portfolio rebalancing, and even compliance support for financial professionals. The introduction of SmartPilot, powered by ChatGPT4, takes things up a notch by adjusting portfolio allocations based on real-time news and market analysis.
Development Steps for an AI Investing Platform like Streetbeat
Creating an AI-powered investing platform like Streetbeat can be an exciting journey. It’s all about blending smart technology with finance to help people make better investment decisions. Let’s break it down into nine simple steps.
1. Understand Your Market and Users
Start by getting to know your market and the people you want to help. Look at existing platforms to see what works well and where things could improve. When you understand your users’ goals and struggles you can build a platform that truly makes investing easier for them.
2. Define Your Must-Have Features
Think about the features that will make your platform stand out. You might want AI-driven portfolio creation, real-time market insights, automated trading and maybe even commission-free transactions. Knowing exactly what you want to offer keeps your development focused and organized.
3. Pick the Right Tech Stack
Choose the best tools and technologies to power your platform. You’ll need AI and machine learning for smart analysis, cloud services for scalability and APIs to connect with stock exchanges and financial data providers. A strong tech foundation makes your platform reliable and fast.
4. Build Your AI Models
Develop AI models that can analyze market data, assess risks and recommend personalized portfolios. Machine learning helps your platform learn from market trends so it can constantly improve and offer the best possible advice to users.
5. Design a Simple and Intuitive Interface
Make your platform easy to navigate. A clean and modern design with simple menus, interactive charts and clear investment summaries makes the user experience smooth and enjoyable. The easier your platform is to use, the more people will want to stick around.
6. Integrate Secure APIs and Market Data
Connect your platform to trusted data sources and trading APIs. Real-time market data and fast trade execution are crucial for giving users accurate information and smooth transactions. The more seamless this feels, the better.
7. Build the Trading and Automation System
Create a trading engine that can automatically buy, sell and rebalance assets. Automation makes it easier for users to stick to their investment goals without constantly managing their portfolios. It’s like having a personal financial assistant working around the clock.
8. Test Everything Thoroughly
Run plenty of tests to make sure everything works exactly as it should. Check the AI recommendations, trading algorithms and security features. Catching bugs and glitches early means you can deliver a polished platform that users can trust.
9. Launch, Monitor and Improve
Once your platform is live, keep an eye on how it performs. Listen to user feedback monitor how accurate the AI predictions are, and keep rolling out updates. Constant improvements help your platform stay competitive and valuable to users.
Cost of Developing an AI Investing Platform like Streetbeat
| Development Phase | Tasks | Estimated Cost Range ($) |
| 1. Research & Planning (5-10%) | ||
| Market Research | Competitor analysis, target audience identification, USP definition | 500 – 5,000 |
| Legal & Compliance | Consultation on SEC, FINRA, and regulatory requirements | 1,000 – 5,000 |
| AI Strategy Definition | Defining AI algorithms, selecting data sources | Included in AI development |
| 2. Front-End Development (20-30%) | ||
| UI/UX Design | Wireframes, mockups, prototypes | 1,500 – 10,000 |
| Web App Development | Using React, Angular, or Vue.js | 2,000 – 8,000 |
| Mobile App Development | iOS/Android (native or hybrid) | 3,000 – 15,000 (per platform) |
| Portfolio Tracking | Displaying user investments, gains/losses | 500 – 2,000 |
| Charting | Price charts, technical indicators | 500 – 3,000 |
| News/Alerts | News feed integration, real-time alerts | 500 – 2,000 |
| User Profiles | Account management, settings | 500 – 1,500 |
| 3. Back-End Development (30-40%) | ||
| API Development | Data retrieval, trade execution, user management | 2,000 – 15,000 |
| Database Setup | PostgreSQL, MongoDB, scalable storage | 1,000 – 5,000 |
| Brokerage Integration | Connecting with APIs for executing trades | 2,000 – 10,000 |
| AI Model Deployment | Infrastructure for AI execution | Included in AI development |
| 4. AI Model Development (20-30%) | ||
| Data Acquisition & Processing | Real-time/historical data pipelines | 1,000 – 8,000 |
| Algorithm Development | AI-driven trading, sentiment analysis, optimization | 2,000 – 15,000 |
| Backtesting & Optimization | Testing AI strategies with historical data | Included in algorithm development |
| 5. Testing & Quality Assurance (10-15%) | ||
| Unit, Integration, & UAT Testing | Ensuring platform functionality & performance | 1,000 – 8,000 |
| Security Testing | Penetration testing, vulnerability scanning | 1,000 – 4,000 |
Total Estimated Cost: $10,000 – $100,000
When considering the development cost of an AI investing platform, several variable factors come into play, with some being particularly unique to this specific type of application. Here’s a breakdown:
Factors Affecting the Development Cost of an AI Investing Platform like Streetbeat
Building an AI investing platform like Streetbeat involves several key factors that can drive up costs. Let’s take a look at some of the main ones.
Financial Data Acquisition and Reliability
First up is the cost of getting real-time and historical financial data. You need to rely on trusted sources like Bloomberg or Refinitiv. These data sources can be expensive, and then you also need to clean, process, and securely store all that information. It’s a lot of work that adds to the overall cost.
AI Algorithm Complexity and Customization
Next, the algorithms. Developing AI for predictive analytics, portfolio optimization, and sentiment analysis takes specialized expertise. The more advanced and customized the algorithms are, the higher the costs.
Regulatory Compliance and Security
Since the platform is dealing with financial data, it needs to comply with strict regulations like SEC or GDPR. This means you’ll need legal expertise and top-notch security systems. These are essential but come with their own set of costs.
Model Validation and Backtesting
Finally, the AI models need to be validated and backtested using historical data to make sure they’re accurate. This process can be pretty resource-heavy and time-consuming but is necessary to ensure the platform’s reliability.
Conclusion
AI investing platforms like Streetbeat are really making advanced investment strategies more accessible. They give users smart insights and automatic portfolio management. For businesses that can build these platforms, there’s a lot of potential to earn through subscriptions, transaction fees, and partnerships with financial institutions. By using AI to improve investment decisions, these platforms are drawing in tech-savvy investors who want personalized wealth management. This gives businesses a great chance to become big players in the fintech world.
Looking to Develop an AI Investing Platform like Streetbeat?
We at Idea Usher can help! With over 500,000 hours of coding experience in the field, we’ve got the know-how to build a smart AI platform that delivers data-driven investment strategies and a smooth user experience. Whether it’s automated portfolio management or personalized wealth solutions, we’re ready to turn your idea into reality and help you shine in the fintech world!
FAQs
Q1: How to develop an AI investing platform?
A1: To develop an AI investing platform, you need to focus on creating smart algorithms that can analyze financial data and make accurate predictions. You’ll also want the platform to be easy to use and secure. Don’t forget to integrate real-time data, set up smooth payment systems, and follow all the financial regulations. Having experienced developers and data scientists on your team will help you build a strong and reliable platform.
Q2: What is the cost of developing an AI investing platform?
A2: The cost of developing an AI investing platform can change depending on how complex you want it to be. If you’re looking to include things like machine learning algorithms and advanced analytics, the cost can go up. You’ll need to invest in development and security and make sure you’re following all the rules to ensure the platform works properly and safely.
Q3: How does an AI investing platform make money?
A3: AI investing platforms make money in a few ways. They often charge subscription fees, take a small percentage of the transactions, or earn money based on the assets under management. Some platforms also make extra money by offering premium features or services. Partnering with financial institutions or providing investment advice for a fee can bring in more revenue as well.
Q4: What are the features of an AI investing platform?
A4: AI investing platforms usually offer things like automated portfolio management, data-driven investment advice, and real-time market analysis. You’ll also find risk management tools, easy-to-use dashboards, and secure payment options. Machine learning helps improve decision-making, and having a mobile-friendly platform is key to keeping users engaged and satisfied.
