AI: Everyone Talks About It, But How Can I Use It? | Talking Shop podcast

In this episode, hosts Luke and Ronni explore how traders can leverage free AI tools like Claude and Perplexity to gain institutional-grade capabilities without the hefty price tag. They demonstrate how Perplexity excels at market data and research, while Claude specialises in reasoning and portfolio analysis.

We share practical examples of creating watchlists, optimising portfolios, and managing risk using these platforms. They highlight Deloitte research showing AI-powered risk assessment has reduced portfolio drawdowns by 15% for professional funds.

This practical guide offers actionable insights for both beginners and experienced investors on using AI as your personal trading coach and analyst through accessible, free platforms that can replace expensive Bloomberg terminals for most retail trading needs.

So, would you use AI?

Key Timestamps:

00:00:34 - Introduction: The Rise of AI in Trading

02:00:13 - Cost-Effective Alternatives to Premium Trading Terminals

04:45:23 - Understanding the Two Key AI Tools: Perplexity vs Claude

08:17:13 - AI as Your Personal Trading Coach

14:09:04 - Using AI Projects for Streamlined Trading Research

17:27:04 - Crafting Effective Prompts: From Vague to Specific

20:25:24 - How Professional Funds Use AI: Performance Metrics

26:27:13 - Real-Time Demonstrations: Analyzing Stocks with AI

33:10:08 - Practical Benefits: Time-Saving and Decision-Making

40:40:19 - Getting Started and Conclusion

Runtime: 46 minutes

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. 

Professional clients trading spread bets and CFDs can lose more than they deposit.

Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. They’re not suitable for most investors. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment.

Your capital may be at risk.