Financial chat bots are underrated, and here’s why.

At OpenBB, earlier this year we joined forces with OptionsFamBot. This was a bot that had a reach of over 1 Million users on Discord.

Today, OpenBB Bot is one of our more powerful products and I still think a lot of people are sleeping on it.

What is a chatting bot platform?

According to ChatGPT: “A chatbot platform is a software service or tool that enables the creation, management, and deployment of chatbots. These platforms typically provide a variety of tools and features for building, testing, and deploying chatbots, as well as options for integrating chatbots with other systems or services. Some chatbot platforms are designed to support the development of chatbots for specific industries or use cases, such as customer service, e-commerce, or marketing. Others are more general purpose, and can be used to build chatbots for a wide range of applications.”

Why are chat bots not engaging?

I believe that one of the reasons for this is because people usually associate chatbots with customer service or marketing. Not as a finalized product but as a feature.

If I ask ChatGPT about this, the main reasons are: Lack of personalized conversation, limited capabilities, poor design and high error rate.

But wait.. ChatGPT is LITERALLY a chat bot. Everything happens through a chat interface, which shows that you can build a successful product as a bot, as long as it adds enough value to the user.

One could argue that ChatGPT is not done in an established chatting platform, and that is partially true. The reason I say partially is because ChatGPT has an API, so developers can use it to develop their own chatting bots and deploy it in whatever chatting app they are interested in.

But, what are examples of good chatting platforms then?

I believe that Discord is in the forefront here due to: Free, easy to use, allows customizing servers with roles/channels/permissions, high-quality voice chat, strong communities.

A testament to this is the fact that midjourney has built a successful chat bot that generates images from…