Irish Trading Bot Technology Showcased at Web Summit
By Ed Gould
The Dublin-based artificial intelligence firm, DARA TRADE, showcased its innovative financial trading bot technology at one of the most prestigious global platforms at Lisbon in November. DARA, which held a first-of-its-kind event in Ireland earlier this year to introduce its Decision Aiding Robo Advisor – also known as DARA – to international currency traders, moved on to present at the Portuguese capital where its system was found to be a huge success. DARA's developers showcased their algorithmic system to some of the world's leading technology businesses, receiving favourable attention from a wide range of participants.
Web Summit was held over a three-day period in Lisbon and DARA faced significant competition to make its voice heard given all of the other technological businesses that were in attendance. Despite this, DARA's niche of providing the sort of artificial intelligence traders require to make better-informed decisions about what sort of investments they should be making struck a real chord with attendees. The event, which enjoyed visitors from over 150 countries from around the world, saw a great deal of interest being shown in the Irish tech firm. According to many who reported back to the DARA executives who attended Web Summit, there is a growing interest in foreign exchange and crypto trading using artificial intelligence, these days. In fact, time and again, DARA's executives received feedback which indicated how the system could be used to assist trading in crypto-currencies.
Attending Web Summit marked a significant step forward for DARA's developers because it is not simply one of the largest technology events in the business calendar these days, with some 70,000 attendees a this year's conference, but because it is one of the most widely respected. Most crucially of all, DARA's developers noted that there was no directly competing system on offer from any other financial trading tech company. According to Ivo Luhse, DARA's CEO, this unique market position has come about because DARA is the only artificial intelligence project that has real human traders with upwards of twenty years trading experience working on it. In short, DARA's approach marries all that is good with trading bots for generating sound trading strategies from lots of number crunching with a trader's instinct and experience to garner the best results.
Luhse said: “Although there were vaguely similar projects to DARA at Web Summit 2018, none had actual traders at their core. They simply built trading strategies from the almost random use of artificial intelligence. This is why our system went down so well with vast numbers of attendees at the conference.”
For many, what DARA presented in Portugal marked out the way that trading in financial markets is likely to take in the near future. Many agree that it is the combination of a human trader and machine-derived algorithms that will allow trading to reach new heights in years to come. This is what DARA is currently building and what it expects to see ever greater take-up of. Luhse, who has been involved in the development of DARA from an early stage, went on to add that he thought the exposure afforded to the trading bot system at Web Summit would lead to a continuing level of success for his business.