00:00 Speaker A
Well, I was wondering, do we need to expand to larger teams around the world, or will technology really take over eventually? Maybe everyone values themselves so much that they think they are needed, but maybe these people are not needed at all.
00:15 Speaker B
I think AI agents will appear. I think this is the year that AI agents will appear. If you haven’t had an AI agent do something for you, give it a try. This is truly amazing. I’ve been talking to 40 different AI agents on my phone over the past three months. I probably talked to AI agents more than I did to people. Well, it’s really amazing when you realize that the agent is an AI that is alive 24/7. always works. They may complete the mission for you. While you’re on the slip, it can write code, observe the market, and rebalance an agent’s portfolio on eToro. Well, it can build a software monitor, it can download something from the internet and read it and give you an overview in the morning. And I think this experience, at least for me, means that I believe that eventually agents will trade more with eToro than with humans.
01:19 Speaker A
That was the next topic, agent trading. So I want to go there. So I could be an AI agent, but I wouldn’t know it at the moment.
01:29 Speaker B
Hmm, but, no, no. you still really
01:31 Speaker A
But, but, I think these are things that people aren’t able to process, right? It’s hard enough when you can talk 24/7. But what if you don’t need to be there at all because my agent is trading with your agent, or my agent is trading against your agent, or my agent is actively managing my portfolio and doing the harvesting and all these things with taxes?
01:54 Speaker B
I think this is inevitable. Because when I look back at the first few days I worked with agents, it was all about turning them into quantitative traders. So the original name was Quant. It was like, “Hello, Quanto.” Well, there was one more thing: money. Oh, because that’s what I’m interested in, right? So it very much replicated my interest. Then there was something called CMO Claw, which is marketing, right? So I basically build an agent that replicates what we do on a daily basis on our team at eToro. And the most important thing I realized is that I really need to learn how to work with these AI agents. Because my AI agents reached PhD level in physics, quantitative trading, finance, and engineering in 3 days. Because I was just kind of teaching him skills, skills, skills. But when other people started talking to my agent, it was still like a 3-year-old. In other words, even though he is a doctoral level genius, he forgets what he said 12 hours ago 12 hours later. So we started building a memory layer for the agent. How does it remember what it has learned? And for the past three months, something different has been happening with the AI every week. Therefore, it will always be improved. In other words, he is no longer a three-year-old. I think I’m about 15 years old now. Um, but they can trade the market, they can analyze the market, they operate 24/7 and they can make smart decisions. Risk management is the key to investment management and the key to market trading. You have to monitor the market 24/7, and now you can observe and manage the market at a PhD level.
03:42 Speaker A
But you’re a publicly traded company and you’re dealing with this problem yourself. I mean, you know at any moment he could be a 3-year-old, right? So how do you know when technology has caught up to the point where you can use these technologies at your disposal for your customers as a public company registered under the oversight of the SEC?
04:09 Speaker B
First of all, we’ve already unlocked a lot. So we launched an agent portfolio, right? Which part is unique? So you have $10,000 in your account, but you can connect an AI agent to something like $500, right? This greatly minimizes the risk of experimentation and allows you to deploy your own agents, whether they are open clones, clones, or cursors, to trade on eToro using the AI on the eToro Agent Portfolio. And Tori, we just recently signed a deal with Grock and now SpaceX AI. Well, we’ve made significant upgrades to our AI agents. Now it’s basically the Grock 4.2 and 4.3, which are Frontier models. You can research the market, search the market, research X, and find out who you are. You have a memory, right? So we learned from working with agents. So everything we do on eToro translates into eToro products. And that AI agent also has guardrails. Therefore, it does not have all the superpowers that some agents have. right. right? So it’s more restricted, more guardrailed. And gradually, we’re taking what we’ve learned and institutionalizing it and delivering it to eToro customers.
05:49 Speaker A
Attractive. It’s really fascinating. I think people just don’t realize that we’re not going to be doing much anytime soon.
