https://www.zdnet.com/article/perplexity-ais-new-tool-makes-researching-the-stock-market-delightful-heres-how/

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Innovation
Home Innovation Artificial Intelligence

Perplexity AI's new tool makes researching the stock market &
apos;delightful'. Here's how

Perplexity Finance is a comprehensive suite of AI-powered tools with
an easy-to-use interface. Here's how to access it and what to
know before you do.
steven-vaughan-nichols
Written by Steven Vaughan-Nichols, Senior Contributing Editor Oct.
21, 2024 at 5:14 a.m. PT

  * 
  * 
  * 
  * 
  * 

stock trading data concept
Yuichiro Chino/Getty Images

I'm no day trader. Back in the 1990s, I dabbled with Cocoa
futures trading on the Chicago Mercantile Exchange using Globex.
However, you may have noticed I'm not a commodity millionaire.
Still, I know a thing or two about the stock market, and I think
Perplexity AI, the rapidly growing AI company's new
finance-centric platform, Perplexity Finance, may be helpful to
neophyte stock traders. 

Also: Want a free year of Perplexity Pro? Here's how to claim it

What is Perplexity Finance?

Perplexity Finance aims to provide users with a comprehensive suite
of tools for exploring company financials, stock performance, and
industry comparisons. The tool boasts an array of capabilities,
including real-time stock quotes, historical earnings reports,
industry peer comparisons, and detailed analysis of company
financials. 

A first look at Perplexity Finance.

Screenshot by Steven Vaughan-Nichols/ZDNET

Perplexity CEO Aravind Srinivas highlighted the platform's user
interface, describing it as "just delightful."  That's all good,
but while its interface is easy to use, no one wants any AI
hallucinations turning into a gambling nightmare when they're
betting money on the market.

Also: Perplexity Pro's AI absolutely aced my coding tests - but
there's a catch

While Perplexity hasn't provided any details about how the new
service works, I looked closely at the site's results. I
discovered the hard data is not from a large language model (LLM) but
from the respected Financial Modeling Prep (FMP). FMP's claim to
fame is that it provides "the most accurate financial data available
on the market." It provides this data via application programming
interfaces (API) to numerous clients, including Perplexity and, from
it, you. 

So, Perplexity Finance's data looks to be more trustworthy than
you might expect from an AI company. Specifically, the tool provides:

  * Real-time stock quotes and price tracking
  * Historical earnings data and visualizations
  * Industry peer comparisons
  * Basic financial analysis tools

However, Srinivas warned on X: "Much more work needs to be done to be
a complete end-to-end market research tool: ingesting 10q and 10k,
and allowing for deeper research on proxy statements, annual reports,
and earnings."

He's right -- there is work to be done. For instance, just
getting to Perplexity Finance is a bit tricky. The tool is only
available on the desktop. You can't use it on your smartphone.
If you use Perplexity's Focus feature set for finance, you won&
apos;t be using the new feature. Instead, you'll be using
Perplexity AI's usual LLMs to work on financial questions. 

How to use Perplexity Finance 

To use the new stock mode, you need a Perplexity Pro account. This
costs $20 a month. With that account, search with the word "stock"
and the company name. If your results start with a graph of recent
stock prices, you're on the right track. Under the results, you&
apos;ll find a link to "More about the company name". 

Also: I put the free version of Perplexity.ai through my coding tests

Looking ahead, Perplexity will be adding more data. In a quiet press
posting, Perplexity announced it is entering a strategic partnership
with Crunchbase. According to Crunchbase Chief Product Officer Megh
Gautam, Crunchbase will deliver its "powerful, private company data
to Perplexity's Enterprise Pro users through our data licensing
API." This partnership will provide Crunchbase's proprietary
data, "which covers hard-to-find firmographics, financials, and more
for private companies."

In addition, Perplexity is partnering with the business data company
FactSet to provide its trusted data to their "mutual clients," stated
Kristy Karnovsky, EVP and head of dealmakers and wealth at FactSet in
a statement: "Together, we are revolutionizing how individuals and
enterprises gather information and insights over a vast repository of
robust structured/unstructured financial data."

Also: NASA has a problem, and it's offering up to $3 million if
you have a solution

To access these data sources, you must be an Enterprise Pro account
user with a FactSet or Crunchbase subscription. Enterprise Pro is
available for companies with fewer than 250 employees for $40/month/
seat or $400/year/seat. Larger companies will need to contact
Perplexity directly. 

This move positions Perplexity to compete more directly with
established financial data providers and search engines. The company
has been making significant strides in the AI-powered search market,
with its chatbot gaining popularity for its ability to summarize
search results, provide citations, and help users refine their
queries. 

As Perplexity expands into the financial sector, it will be
interesting to see how the company navigates the competitive
landscape and addresses ongoing concerns about copyright infringement
. If Perplexity Finance proves successful, its achievements will go a
long way to solidifying the company's position as a major AI
player. 

At this stage of the game, though, Perplexity Finance needs much more
refining before I can call it a real competitor to the existing stock
analysis programs, such as Stock Rover, WallStreetZen, and
TradingView.

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