Helping Traders Make Informed Decisions with AI
TIMELINE
Sept 2023 - Nov 2023
INDUSTRY
FinTech
TEAM
3 Product Designers
PROBLEM
How might ADA Analytics help users understand complex financial information and enable them to make informative investment decisions?
CONTEXT
Investment platforms can be overwhelming for traders, and they are often littered with industry jargon and charts that can be difficult to understand. This makes it difficult for traders to make informed trading decisions.
SOLUTION
Designed a high-fidelity prototype for an AI chatbot that simplifies financial information and offers real-time analysis, empowering all traders.
KEY ACHIEVEMENTS
Defined product vision & strategy
Managed roadmap & cross-functional collaboration
Incorporated user feedback for an accessible interface
DESIGN PROCESS
Defining the Problem Statement.
The ADA Analytics Design team conducted user research to learn about the challenges that novice and experienced users were experiencing while using their preferred investment platforms.
We also conducted competitive analysis of two different product types to understand what our potential solution would look like:
Investments Platforms Products
AI (NLM) Chat bots
Product Feature Ideation.
We help meetings with the following stakeholders to gather technical insights:
Business Development Team
Software Engineering Team
Product Manager
Defining the Project Scope.
Based on our user research and Product Managers requirements, we defined the following as our Project Scope:
The product must be a web application.
The product must have an AI chatbot.
It must interact with information on screen (Charting Tool),
Prototyping.
The prototyping stage included:
Sketching
Red Route Mapping
High Fidelity Prototyping
User Testing and Hand Off.
We concluded our project by running user tests and providing a synthesis of our findings to the developers during handoff.
USER INTERVIEW INSIGHTS
Interviewed 4 Novice Traders and 2 Experienced Traders
Lack of transparency
Traders want to be able to to understand how their investment platform works and how the recommendations or AI features work.
Trust well established trading platforms
Traders don't prefer using new trading platforms. They find that existing trading platforms have more credibility.
Lack of education resources
Novice traders want to have easy access to educational resources that help them learn about trading and improve their trading skills.
Conclusion from the Initial Interviews
We were certain that the AI Chatbot would need to be inclusive of all levels of traders and it must have the ability to suggest educational resources as well as predict patterns on live charts.
COMPETITIVE ANALYSIS - AI (NLM) Chatbots
COMPETITIVE ANALYSIS - INVESTMENT PLATFORMS
PROJECT SCOPE
Must be a Web Application.
Must have an AI Chatbot
Must include Charting Tool
INFORMATION ARCHITECTURE
SKETCHES
FINAL DESIGNS
“I adore the chatbot's user-friendliness. I'd utilize this daily, particularly for identifying patterns in graphs. At present, analyzing real-time charts takes me several minutes.”
Devaj Mitra
Day Trader | Software Engineer @ Yelp
CONCLUSION - USABILITY TEST RESULTS
Before the handoff we conducted 8 usability tests. ADA Analytics has been well-received by users.
The following insights were received from the users about the product design: