Eberhard Schoneburg, CEO of Artificial Life, says the company's approach to using fully integrated bots in a complex financial service mode is innovative for the industry. "By asking our bots, people with little or no financial expertise will now be able to do sophisticated analysis of fund performance and investments in a very intuitive and straight forward manner. This is important as more financial institutions move to offer financial tools with integrated intelligence," he says.

The company plans to improve current versions of the sites further over the next months based on client and user feedback and requirements and eventually to start charging for the advice provided. According to Dr Krishna Karambakkam, vice president and product manager for financial services at Artificial Life, new versions "will concentrate on wealth management calculators, retirement and 401k planning with a focus on the US markets."