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Leveraging Social Media for Financial Advice

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Leveraging Social Media for Financial Advice

  1. 1. Leveraging Social Media for Financial Advice @ponguru /in/ponguru Ponnurangam.kumaraguru Sep 21, 2022 Global Fintech Fest, Mumbai Ponnurangam Kumaraguru (“PK”) #ProfGiri CS IIIT Hyderabad ACM Distinguished Member TEDx Speaker pk.profgiri
  2. 2. Disclaimer / Request How many of you have PhD? How many of you are Professors? How many of you are on Twitter? LinkedIn? Insta? Facebook? How many of you own a NFT? 2 https://precog.iiit.ac.in/
  3. 3. NFTs, BlockChains, Crypto currencies 3
  4. 4. NFT 101 Blockchain technology has led to products and services that have transformed the financial ecosystem NFTs have grown exponentially in 2021 with market cap reaching upto $10 billion ‘Everydays: The First 5000 Days’, an NFT artwork by artist Beeple, sold for $69 million. Jack Dorsey’s first tweet raised $2.9 million NFTs are entirely digital and can be downloaded and shared publicly for free The value of an NFT is based on the perception of buyers 4
  5. 5. 5
  6. 6. Why Social Media for FinTech? Leveraging 4 Vs Forecasting Fraud detection De-mystifying Delivering services Analyzing ESG Pull & Push mechanism 6
  7. 7. 7 https://opensea.io/
  8. 8. 8 https://opensea.io/collection/cryptopunks
  9. 9. Twitter – OpenSea pipeline 9
  10. 10. Samples from our data 10 https://twitter.com/panrichmusic1/status/1375544453688098820 https://twitter.com/JimmyGenuine/status/1370416950237626370
  11. 11. Twitter post & NFT creation Total tweets and NFTs, daily for 1 Jan - 30 March 2021 Creation date versus fraction of total items Users post on Twitter soon after creating an NFT on OpenSea
  12. 12. More followers, more asset value Followers vs Asset value Weak +ve correlation à increase in followers leads to greater asset value
  13. 13. Account creation trend NFT & non-NFT affiliated creation dates NFT affiliated >> non-NFT affiliated
  14. 14. Takeaways Track the growth of NFTs and show how social media reach can impact its value Working model to guide sellers about the valuation of their assets First work to characterise and value NFT assets using social media features Incorporate data from other social media platforms such as Reddit Identify fraudulent transactions used to artificially inflate NFT prices 14
  15. 15. 15 https://precog.iiit.ac.in/pubs/Finweb_WWW_2022.pdf
  16. 16. 16 https://www.linkedin.com/in/ponguru/ https://twitter.com/ponguru https://www.instagram.com/pk.profgiri/ https://www.facebook.com/ponnurangam.kumaraguru/
  17. 17. Creating a Sustainable Financial World 17 https://www.globalfintechfest.com/
  18. 18. Creating a Sustainable Financial World 18 What is ESG?
  19. 19. Creating a Sustainable Financial World 19 What is ESG? Environmental, social, and corporate governance (ESG) is a framework designed to be integrated into an organization's strategy to create enterprise value by expanding the organizational objectives to include the identification, assessment and management of sustainability-related risks and opportunities in respect to all organizational stakeholders https://en.wikipedia.org/wiki/Environmental,_social,_and_corporate_governance
  20. 20. ESG + Social Media Environment: Tweets that concern with the corporate entity and mentions any form of positive or negative impact on the environment, i.e. carbon emissions, pollution and energy management, etc. Social: Tweets concerning with employees of the corporation, i.e. diversity and safe working conditions, human rights compliance, etc. Governance: Tweets concerning with regulatory / governance / audit agencies, shareholder / board rights, transparency and accountability, etc. 20
  21. 21. Why ESG on Social Media? Companies publish ESG reports only periodically, information on social which can help here ESG reports directly affect the stock price of the company What if we knew what was happening related to ESG in the company in real-time (close to real time for now)? Increases the confidence of an investor while buying a company’s stock Social media mostly has companies’ ESG sentiments Twitter is the most active 21
  22. 22. Samples from our data 22
  23. 23. Our goal Classify these tweets into E/S/G (and None) Time-series analysis to single out periods of abnormal activity 23
  24. 24. FinBERT, ESG-BERT, KeyBERT 24 https://github.com/yya518/FinBERT https://github.com/mukut03/ESG-BERT https://github.com/MaartenGr/KeyBERT
  25. 25. Data collection pipeline Seed Keywords Min number of likes on a tweet as a filter Keywords are currently 1/2-grams 25 https://www.brunswickgroup.com/esg-keywords-2022-i20772/
  26. 26. Takeaways Social media is there to stay, how to use it for your benefit is the question We are continuing to work on the ESG part, if any of you are interested, happy to discuss 27
  27. 27. Request Interact with Academia more Have Professors in committees, Board, etc. We are not that expensive J “Learn to recognise omens, and follow them” the old king had said ~ The Alchemist Around until 1800hrs, happy to chat 28
  28. 28. 29 Superstar students & Partner(s) in Crime :-)
  29. 29. 30 Thanks! Questions? pk.guru@iiit.ac.in http://precog.iiit.ac.in/ @ponguru pk.profgiri linkedin/in/ponguru

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