Would it be possible to invest and make money with ChatGPT? Investigators asked it to evaluate financial reports.
As artificial intelligence penetrates all areas of life, it has started to closely impact the financial sector. Users from various fields, especially cryptocurrency investors, use tools like ChatGPT. So, can models such as Gemini, ChatGPT, and Claude be preferred for financial investment?
ChatGPT is very good at reading financial reports
A study published in the US revealed that artificial intelligence models might be more successful than humans in interpreting company financial statements. Researchers stated that models such as GPT-4 and Claude can successfully analyze financial data, sometimes even outperforming analysts.
The study, published in the journal SSRN, tested how well general-purpose AI models can evaluate financial statements without special training in accounting or finance. ChatGPT has been shown to be just as capable as machine learning models trained specifically for this task.
The researchers noticed that the forecasts in some tests were similar to those of analysts examining the same financial statements. It was reported that ChatGPT yielded successful results in terms of risk-adjusted returns, indicating that AI can produce more profitable investment analyses.
Artificial intelligence conducts its analysis directly on financial data, minimizing the negative aspects of human bias. The researchers noted that AI can generate “useful insights” by analyzing patterns in financial statements.
However, many researchers caution against relying solely on AI for investment decisions. Considering that financial investments are shaped by market expectations, it may not be sufficient to only examine the data tables.
What do you think about the potential of AI in financial investment? Share your thoughts in the comments section below.
You may also like this content
- What is Artificial Intelligence?
- Discover the Top 15 Artificial Intelligence Tools and Websites
- Understanding How Artificial Intelligence Works
Follow us on TWITTER (X) and be instantly informed about the latest developments…
