UF students create app to help you manage investments

The app takes qualitative data and turns it into quantitative data, making investment decisions easier
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Published: Aug. 25, 2020 at 6:33 PM EDT
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GAINESVILLE, Fla. (WCJB) - When it comes to investing, the less time you have to spend analyzing stocks, the better. Chief Executive Officer, Christian Ancheta, says he and his team of UF students and graduates have created an app to help you do just that.

“A year ago I was investing and I was reading the news and I found myself only reading about 10 to 20 articles per day,” Ancheta said. “I figured ‘well this is too slow’. As a human, we can only read a small amount of news ... but a computer or an algorithm can accomplish about 3 to 4 million articles per day.”

String is a data-driven app that uses artificial intelligence to analyze news and social media to help investors better understand what’s going on around the world.

“Hedge funds and investment banks are using A.I. and machine learning in order to make their trade and their decisions,” said Ancheta. “The problem is that regular people like you and I don’t have access to that technology nor do we know how to approach it … so what we’re trying to do at String is bridge the gap between institutions and everyday investors.”

Whether you’re an experienced investor or a rookie, String uses artificial intelligence to break down the data helping you better understand what’s going on in the market.

While artificial intelligence can sound complicated, String makes it simple.

“The word violent -- that has a very negative connotation,” Chief Chief Technology Officer Gianni Cerri said. “A machine algorithm can recognize that ... versus stocks going up or stocks going down … and you can identify those [types of words] and tag those and overtime you get an idea of ‘how an article feels'.”

The app will take that qualitative data from millions of news and social media sources online and turn it into quantitative data, giving you a simple percentage on that stock. It simplifies decision-making when it comes to making investment choices. All you have to do is visit their beta version online and start making better investment decisions.

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