Artificial Intelligence Done Right: How PandaTS Incorporated Integrated AI into Business Intelligence Solutions

Artificial Intelligence has been one of the biggest stories of 2023, but Panda has been working on AI-based tools for the brokerage segment for quite some time now. 

At Panda they like to joke that they were into AI before it was cool! Nowadays you'll find random companies paying lip service to AI in order to make the business seem more relevant, but Panda's journey with AI started purely from a functional point of view. The company observed all the progress that was being made in machine learning, particularly in the open source space and they started realizing that these tools could be powerful game-changers for their own industry.

Panda's journey into AI began from a functional perspective rather than following a trend. They recognized the potential of machine learning, especially in the open source domain, and saw how these tools could revolutionize their industry. Leveraging their deep understanding of online brokerage businesses and their passion for new technologies, Panda's engineers played a crucial role in bringing innovative AI solutions to the market.

The company's flagship product, Panda CRM​, was already a flexible business intelligence suite for online brokers. By focusing on AI, they enhanced its power, enabling brokers to compete with larger teams. So, their emphasis on AI has indeed been fruitful.

When it comes to incorporating a new technology like AI into core products, Panda follows a careful process. They start small, ensuring they don't deviate from their core competencies. They identify pain points among their customer base and evaluate if new technologies can address those issues. For instance, Panda recognized the challenge of document verification, a drain on human resources for brokers. Leveraging advanced image detection technology, they integrated Google's Vision AI algorithm into Panda CRM, automating document submission rejection and comparison. This module greatly improved onboarding efficiency, indicating the potential of AI in other areas of brokerage tech.

The online trading segment is well-suited for AI integration due to its data-intensive nature. Online brokerages generate vast amounts of data, including traffic, browsing behavior, platform activity, and touchpoints with various departments. Previously, this data went unused, but now, AI can unlock its value. Panda CRM's Next Call AI system exemplifies this. It uses customer actions, such as registrations, deposits, and withdrawal requests, as triggers for sales and retention teams to proactively engage with clients, offering personalized support. This approach improves customer service, increases re-deposits, and enhances the success rate of outgoing calls.

Panda believes there are other areas of online brokerage that hold potential for AI optimization. Initially, they focused on image and optical character recognition for document verification, then expanded into real-time client activity analysis with Next Call AI. Now, they are exploring call center activity using AI-based modules like Call Control. By analyzing call sentiment, speech patterns, and customer interactions, brokers can improve call center performance, train operators, and gather valuable market research data. Additionally, Panda CRM's Call Script feature provides agents with tailored prompts, enabling more effective communication with clients.

Looking ahead, Panda believes they are just scratching the surface of AI's potential. They foresee brokerages relying more heavily on AI to augment human teams rather than replacing them. AI will empower human teams with the collective knowledge of the business, making them smarter and more efficient. In the broader landscape, there are parallels to the early days of the Internet. Not every AI investment will lead to the killer app that everyone seems to be striving towards now, but this acceleration in interest and investment will definitely usher in a new era of progress for humanity, just like the world wide web did in a previous generation.