Providing artificial intelligence (AI) tools to independent investors is the current project of former FTX US President Brett Harrison.
Harrison’s new company, Architect Financial Technologies, aims to equip “sophisticated individual investors” with institutional-grade trading software and with ChatGPT integrations that will help them execute complex trading strategies, Harrison told Bloomberg Television on Tuesday (June 20), according to a Bloomberg report.
“We think we can greatly lower the barrier to entry to writing those kinds of strategies by using natural language prompts,” Harrison said in the report.
The firm will also provide services to hedge funds, asset managers and other institutional players, according to the report.
Architect Financial Technologies raised $5 million in January, the report said.
Harrison had hoped to raise as much as $10 million but said some investors were hesitant to back a former executive of FTX US, per the report.
Harrison has not been publicly accused of any wrongdoing at FTX US.
Architect will be a self-hosted product that will improve upon the security, latency and privacy provided by the “hosted” mode in which software platforms that connect to financial trading venues operate, Harrison said in a May 31 Twitter thread.
“For the above reasons and others, we designed Architect to be a self-hosted product,” Harrison said in the thread. “Rather than host a centralized service, we deliver software packages to our clients that allow them to run the Architect platform directly on their machines.”
Harrison announced in January that he was raising fresh funds for his new venture.
He announced these efforts in a 49-part Twitter thread in which he also blasted FTX and its former CEO, Sam Bankman-Fried, and attempted to distance himself from the downfall of FTX.
“I never could have guessed that underlying these kinds of issues — which I’d seen at other more mature firms in my career and believed not to be fatal to business success — was a multi-billion-dollar fraud,” Harrison said in the thread about the collapse of FTX and the alleged fraud of Bankman-Fried.
As with Harrison’s new venture, generative AI is being applied across enterprises, reshaping the operational landscape and transforming how work is organized.