There’s a lot of buzz around emerging artificial intelligence tools such as ChatGPT and their ability to absorb vast banks of data and game investment markets. While the use of this technology will become eventually be ubiquitous, it still can’t predict winners and losers in markets or provide specific financial advice.
When ChatGPT is asked about its potential for retail investors, it tells you it’s useful for summarising company financial and identifying industry trends. It can also generate reports on portfolio holdings and provide rebalancing recommendations.
Robots can, and already do, provide simple investment advice. At the other end of the scale, high frequency traders already use sophisticated algorithms to buy and sell big share parcels based on short-term market movements, to get the best price for their trades. This is where the real magic happens; it’s not with ChatGPT. Yet.
Read more in the Australian Financial Review: