Hardbacon is on the receiving end of a $50,000 conditional funding for an artificial intelligence research and development project to predict stock prices. The grant is part of the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP).
Founded by former tech reporter Julien Brault, Brossard-based Hardbacon is currently developing a stock rating system, which will leverage artificial intelligence to help investors pick stocks.
Ratings generated by artificial intelligence will appear in Hardbacon’s mobile application, and will also be made available under license to financial institutions wishing to use these ratings or to offer them to their customers.
“Many Hardbacon users asked us to tell them what to invest in”, said CEO Julien Brault. “Until now we had refused, until one of our employees presented us with a promising academic article that he had written about the possibility of using artificial intelligence to generate predictive ratings. We are grateful that the NRC IRAP has agreed to support this project.”
Recently, the Montreal startup launched a new version of its mobile application to help Canadians with their finances during the pandemic.
Finance-Investissement noted that Hardbacon also changed its slogan from “Invest like a pro” to “My financial coach,” underscoring its mission to help Canadians in all aspects of their finance.
“In this time of uncertainty, everyone is stressed in terms of health and finances; We are afraid of being sick and infecting others, our investments have melted and we do not even know if we will still have a job in two weeks,” Julien Brault told the website. “Nothing can be done for health, but Hardbacon can offer financial support to all Canadians.”