Paytm announced the launch of ‘Voice Trading’ through its wholly-owned subsidiary Paytm Money. Voice Trading enables users to conduct trades or obtain information about stocks with a single voice command.
The voice trading function enables instant processing of a single speech command through the use of Neural Networks and Natural Language Processing (NLP).
The company stated that because transactions occur in a matter of seconds and the speed with which orders are placed and executed is critical, it is betting on next-generation technology such as artificial intelligence.
“From searching the stock, to entering specific price and quantity, means that users on average tap the screen multiple times per trade to get desired outcomes.”
”With a mobile-first and interconnected world of devices and the much-awaited launch of 5G, the Voice Trading feature enables users to skip the usual 5 to 6 step process of trade in a dynamic environment with simple voice commands,” said Varun Sridhar, CEO of Paytm Money.
“We believe that this will improve user experience over time and will bring more convenience to tech-savvy investors. We are doing a lot of R&D on newer technologies and this is one of the first products to be launched,” he said.
The company informed that the Voice Trading is currently being rolled out in Beta to select users and will be available to all users over the next weeks.