Investing in general, and investment bots in particular, are usually dedicated to ensuring maximal returns, but the Grow app casts a broader requirement. Rather than focusing solely on profit (though the app is dedicated to building a strong, high returning portfolio,) Grow will only invest in companies with socially responsible practices.
There are many criteria that the Grow app considers socially responsible. Some of these include environmental sustainability, good company governance, and social behaviors like charitable donations. Users can select which of the socially responsible actions they feel strongest about, and the app will automatically invest in companies whose missions align with those traits.
While the restrictions imposed by these qualities might seemingly run the risk of Grow investing in too many companies in the same sector, the app is programmed to invest widely, ensuring a diverse portfolio.
Social-Minded Investment Apps
'Grow' Automatically Makes Investments Based on Social Factors
Trend Themes
1. Socially Responsible Investment - Investment apps are incorporating social factors when designing their algorithm for socially responsible investment is an opportunity in the finance industry.
2. Automated Portfolio Management - Automated portfolio management with a focus on social responsibility is a trend to watch in the investment industry.
3. Customized Investment Strategies - The trend towards customized investment strategies makes it possible to create apps like Grow that invest based on socially responsible practices.
Industry Implications
1. Finance - The finance industry has an opportunity to innovate by incorporating social factors into investment strategies.
2. Technology - Technology is playing a role in the development of automated portfolio management apps that prioritize social responsibility.
3. Sustainability - The sustainability industry can benefit from the increased interest in socially responsible investing, especially environmental sustainability.