Valladolid, (EFE).- Artificial intelligence and automatic learning to eliminate biases when investing in financial assets and generate more benefits for customers is the commitment made by the technology company Viridis Society, made up of two twenty-somethings from Valladolid who developed their project by initially investing their own savings and those of their relatives.
It all started almost as a favor between friends who have known each other since kindergarten, Ovidio Gómez and Jaime Valero, and which today has become a company that carries out its activity mainly from Dubai and whose value after its first round of financing reaches 5.8 million euros.
“I lived in the Czech Republic and there, since there is no euro and inflation was very strong, I told Jaime, who had been investing in the stock market, cryptocurrencies and many other things for many years, why don’t you help me and invest my money and I’ll give you a part?” Gómez, who is the company’s CEO, recalls in a statement to EFE.
After developing software to safely control their investment portfolio, these ADE students from the University of Valladolid (UVa) who are under thirty saw the potential to extend this service and found their first clients among their relatives.
“We started with family and friends, who are still in the company and who keep us grounded. For this reason, we try to be very prudent, because it is also the money of our loved ones”, says Gómez, to point out that his computer program can only be accessed at the invitation of a client or from the Viridis address itself.
predictability
Viridis Society’s software analyzes 40 very different variables every five seconds, such as the history of a financial asset in the last four decades or the impact of its reputation on social networks, to generate asset purchase or sale scenarios, which reach the user through a unique link.
Although the company has a team of people, with Valero at the helm as CFO, they want AI to concentrate most of the decision-making to avoid biases derived from feelings or impulses that “can play tricks on investors.”
“Human beings are 100% predictable in terms of the market, because in the end they are numbers, they can be measured based on how many operations people are opening to buy in a market,” says Gómez, who adds that one advantage of using his software is that mass psychology, which for other companies is an “enemy”, for them it is “one more piece of information”.
The company operates with four main assets: indices, such as the SP500; raw materials, the majority due to the macroeconomic situation, “which is very unstable”; currency pairs and cryptocurrencies, although the latter represent a very small percentage of your portfolio due to their high volatility.
“We are not believers in these assets as medium or long-term investments, because the vast majority of them are completely speculative assets, we simply take advantage of their price volatility to extract value for our clients, but nothing more”, he points out.
dubai
At this time, the company is made up of five partners, after three former clients from Belgium entered “with a small percentage”, and between 10 and 12 collaborators in technical tasks ranging from programming, to legal or financial advice, most of them based in Dubai.
Gómez points out that when he left the Czech Republic, where he worked in the E-Sports sector, they decided to move the company to the Arab country, since the servers in which their artificial intelligence is housed and many of their ‘freelancers’ were Dubaiti.
“It is a country that seems very mysterious, but it makes innovation very easy for companies that are dedicated, above all, to issues of software development and artificial intelligence,” he acknowledges, to highlight the investment made by the United Arab Emirates and the companies in the sector themselves “to turn it into an industrial innovation center for companies of the future.”
Asked if Spain is a difficult place to establish a business like his, he answers that it is “as difficult as anywhere”, because his job depends on “people trusting you with their money”, but he affirms that they have the “advantage” of being Spanish to be able to explain it better “than anywhere” and predicts “some growth in the country”.
“We are a global company: our partners are from Belgium, our employees from Dubai, Argentina and many other places, so we don’t have a focus anywhere, but we want to be prophets in our land,” he says. EFE