Long-term investing platform Public has rolled out a new AI-powered tool called Generated Assets, giving everyday investors the ability to create personalized stock indexes with just a text prompt. This new feature lets users turn niche ideas like “CEOs under 40” or “companies with flat organizational structures” into a fully-formed index that’s benchmarked against the S&P 500.
Create Your Own Index, No Expertise Required
With just a sentence or two, Public’s AI digs through company filings and publicly available data to build a list of stocks that match the user’s criteria. Once the index is generated, it’s automatically backtested using historical market data to show how it might have performed over time.
While you can’t invest directly in these indexes just yet, Public says that functionality is on the way. For now, users can track their custom indexes and even share them on a leaderboard within the platform.
A Fresh Take on DIY Investing
The move represents Public’s vision of making investing more accessible and tailored to individual interests no deep financial knowledge required. Whether you’re into emerging tech trends, sustainability, or quirky leadership themes, the tool lets you explore ideas that might not be captured by traditional funds.
It’s a step away from the cookie-cutter investing approach, giving people more creative control over where they put their money or at least, how they think about it.
Fintech Embracing AI
Launched in 2019, Public has quickly become a notable player in the fintech space, backed by over $400 million in funding from investors like Accel and Tiger Global. The platform currently supports investing across various asset classes, including stocks, bonds, crypto, and options.
The introduction of Generated Assets fits into a broader trend of AI integration in personal finance, where tools are being developed to offer smarter, more customizable experiences for retail investors.
Expanding Global Footprint
Public’s global journey has had its ups and downs. After pulling out of the UK market less than a year after its initial launch, the company recently re-entered the region just as competitors like Robinhood ramp up their own international efforts.
Previously, Public had announced it would shut down UK accounts by April 30, 2024. Its return signals a renewed commitment to expanding beyond the U.S., even as the fintech space becomes more crowded.
