According to an experiment conducted by financial comparison site finder.com, a stock portfolio selected by ChatGPT outperformed 10 leading investment funds in the UK. During an eight-week period, the dummy portfolio of 38 stocks generated a gain of 4.9%, while the investment funds experienced an average loss of 0.8%.
Why it matters: Researchers have found that ChatGPT can accurately predict stock price movements, suggesting the potential for disruption and revolution in the financial industry.
- The survey conducted by finder.com revealed that 8% of UK adults have used ChatGPT for financial advice, while 19% said they would consider using it.
- Major funds have used AI for years to influence their investment decisions and now ChatGPT will give the general public the ability to use technology to drive theirs.
- Although some users have already turned to ChatGPT for financial advice, a survey revealed that 35% of UK adults would not consider using the chatbot for investment decisions.
