Trading software takes many forms, from simple push-button buy/sell packages to navigating crypto markets and the considerably more complex algorithms involved in making predictions minutes, hours, or even days ahead.
When trading stocks, a delay of a few seconds can mean potential significant loss, so it’s important that software traders can be as fluent on their workstation keyboards as a virtuoso pianist plays a Bach prelude. Now imagine if the pianist’s score suddenly changed. He is used to playing a particular section of a piece with his eyes closed, but suddenly hesitates and loses the flow. For the musician, that’s a bit embarrassing and inconvenient, but the same workflow failure for a financial trader becomes costly.
Fortunately, artificial intelligence (AI) comes to the rescue, in the form of TutorBot, a “learning layer” of software that runs alongside the main platform it’s assigned to, offering help to the human operator if they encounter any difficulties. It is what is known as a digital adoption platform or DAP.
DAPs are likely to become one of the most funded fintech software models in the world very soon, as they can eliminate inefficiencies in business processes, especially in larger organizations using an enterprise-wide or cross-floor CRM. trading where any hesitation caused by software updates could cause significant losses. Also think about how much business must be lost daily by accommodation supply platforms like Airbnb or flight search engines like Skyscanner, when customers can’t understand the technology and go to another site that they may find less complex to navigate.
As an example in the workplace, let’s imagine a sales ledger clerk using the fictional Acme Widget Inc CRM to enter sales figures and orders placed into the system.
Our employee may be a new employee, in which case they need to learn CRM from scratch, or they may be a seasoned operative who suddenly finds themselves with a change in workflow due to an upgrade to the system’s user experience. In the case of the new employee, they are likely to have problems from the beginning. Of course, if you’re in a large, open office environment and the input screen won’t accept your numbers, you can always walk over to a coworker’s desk and ask for help. But they can only do that so many times before their coworkers see them as a pain in the neck, so some newbies may take shortcuts and enter anything on their screens just to hide their embarrassment.
An AI personal assistant
The DAP changes all this. Its AI-powered hyper-personalization treats each employee individually, like a friendly, knowledgeable colleague sitting next to you, but only intervenes if you ask, or proactively if it anticipates trouble. . It is this proactivity and analysis of an operator’s approach to their workflow that is key to humans learning new software so quickly when using a DAP.
The AI will detect when the employee first makes a mistake and could offer a “tooltip” message to help the person solve the problem, something like “Sarah, two decimal places are required to enter this field” or what to be. If the employee makes the same mistake again in the same place in the next workflow session, the AI remembers it and the next time the operative is about to enter the next screen, which is crucial. before If they make the same mistake, the DAP will offer proactive help: ‘Sarah, remember on the next screen to use two decimal places in your input…’. After a few sessions, the human operator will learn that the X screen needs a certain input format and will stop making the same mistake; similarly, the AI will have learned that the operator has learned, so it will no longer offer prompts if they are unnecessary and distracting. The ease of being able to do this for every employee in a large organization, regardless of which workstation they may be connected to, makes adoption of changed workflows much faster due to software changes or upgrades.
The next gold rush for fintech startups?
Of course, DAPs are not limited to enterprise-wide software-as-a-service (SaaS) platforms like payment software or CRM systems. There is no reason why a DAP cannot be installed on a laptop, tablet, or even a mobile phone. The net result is the same, whenever an operator finds it difficult to accomplish something on the device they’re using, a DAP can jump to the rescue, whether it’s a grandpa struggling with their laptop, an art student and design facing a photo editing package or consulting surgeon using Medical technology for patient diagnosis.
It won’t be long before all software has a DAP running alongside it, whether it appears as a metaverse avatar or just a simple pop-up text on the screen, it will make life so much easier for anyone using technology. In terms of FinTech seed funding and navigating the complex regulations of the banking worldit’s very likely the start of the next techno gold rush.
Hitch your wagons, friends…