Exclusive: XTB Hires Robotics Expert to Head a New AI Division
<p><br></p><p><span>The
publicly-listed retail trading company XTB wants to focus more on developing
artificial intelligence (AI) solutions for the retail trading industry. As the <em>Finance
Magnates</em> portal has learned, the broker is launching a new department
dedicated to AI and has hired Tomasz Gawron as its Head. The company claims, that
artificial intelligence will allow the company to "democratize access to
data and personalize user experience."</span></p>
<h2><span>XTB Invests in AI Development</span></h2>
<p><span>The new
department is a division within the existing Technology & Product
department and will focus on the "responsible adoption" of artificial
intelligence solutions within the company's business operations and its trading
platforms.</span></p>
<p><a href="https://www.financemagnates.com/executives/exclusive-xtb-hires-cto-from-polish-e-commerce-giant-to-develop-ai-solutions/" target="_blank" rel="follow">Adam
Dubiel</a>, the Chief Product & Technology Officer at XTB, revealed to <em>Finance
Magnates</em> that AI solutions within the broker are to serve all the company's
operations and departments. Not only focusing on efficiency and data analysis,
but also on support, customer onboarding, and increasing employee productivity.</p>
<p><span>"As a
fintech company with a global customer base, we strive to be at the forefront
of our industry amid AI and machine learning disruption," said Dubiel.</span></p>
<p><span>As part of
the newly created AI department, the company wants to develop new technologies
and focus on testing and validating them. The XTB AI team will also monitor the
latest trends in artificial intelligence and keep employees' knowledge and
skills related to fintech AI up to date.</span></p>
<p>For XTB,
developing technological departments is nothing new. Some time ago, the company
informed us that over 40% of its team <a href="https://www.financemagnates.com/forex/xtb-surpasses-1000-employees-milestone-40-work-in-it-department/" target="_blank" rel="follow">comprises programmers and technical
staff</a>.</p>
<h2><span>Experienced Programmer
Becomes Head of XTB AI Division</span></h2>
<p><span>Along with
the announcement of launching a new department, XTB also announced that it has
hired Tomasz Gawron, an experienced programmer in robotics and author of
research on mobile robotics, as its Head.</span></p>
<p><span>"We
plan to use AI to democratize access to data and personalize user
experience," commented Gawron.</span></p>
<p><span>In the
past, Gawron was not associated with the financial industry, but for the last
two years, he worked at the creative consulting agency Wunderman Thompson
Commerce & Technology, where he was responsible for developing the AI and
robotics department.</span></p>
<p><span>"We
are moving towards a world where a custom, interactive report is generated from
fresh data whenever you ask. Imagine your personal assistant helping you
distill insights from information available on our investment platform,"
Gawron added.</span></p>
<p>Investors
will surely be interested in whether the new division will affect the ability
to create additional revenues. <a href="https://www.financemagnates.com/forex/xtbs-q3-revenue-down-29-on-declining-market-volatility/" target="_blank" rel="follow">According to third-quarter results</a>, these fell
by 29% to PLN 121.1 million due to decreasing market <a href="https://www.financemagnates.com//">volatility</a>. However, XTB
is trying to protect itself from this by introducing new products. At the
beginning of November, <em>Finance Magnates</em> reported that the company would offer
its clients <a href="https://www.financemagnates.com/forex/exclusive-xtb-to-offer-up-to-5-interest-on-idle-client-deposits/" target="_blank" rel="follow">up to 5% interest on idle deposits</a>. In October, it also expanded
access <a href="https://www.financemagnates.com/forex/xtbs-fractional-shares-expand-access-to-uk-investors/" target="_blank" rel="follow">to fractional shares</a>.</p>
<h2><span>XTB Wants To Create New
AI-Based Products</span></h2>
<p><span>Although
the head of the AI department admits that artificial intelligence technology
carries some risks and that customers will initially rather see its indirect
application in XTB's operations, ultimately, it <a href="https://www.financemagnates.com//">leads</a> to the implementation of
new products.</span></p>
<p><span>"The
first AI applications will be connected more to internal workflows. Initially,
the end user will experience the results of such AI implementations indirectly,
through things such as e.g. better and more personalized news coverage on the
platform," Gawron explained.</span></p>
<p><span>The next
step for XTB is prototyping and testing new products. The company did not
reveal details about what kind of products they might be, but admits that
thanks to artificial intelligence, solutions that would have been impossible
just a few years ago can be created.</span></p>
<p><span>"It's
important to note, that while AI is a hot topic now, what customers want is a
great product. AI can help with that, but adding AI everywhere without making
sure that it enhances the experience is a dead end," summarized the head
of the XTB AI department.</span></p><p><br></p>
This article was written by Damian Chmiel at www.financemagnates.com.
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