ChatGPT, a source of trading tips?
It’s a stretch, but the OpenAI chatbot has sparked an internet and investor frenzy around artificial intelligence (AI). ChatGPT has rekindled interest in natural language technology, as this fun tool demonstrates a human-like ability to perform tasks such as answering investing questions and composing trimmed emails.
I have gone to ChatGPT and asked 2 questions regarding AI exposure through the financial markets. ChatGPT’s suggestions include well-known companies like Microsoft, but also offer properties that aren’t tech giants or household names.
ChatGPT came to light just 2 months ago and is already causing untold chaos: These are some of the uses that are causing the most concern
How can I invest in AI Madness?
“There are many ways to invest in AI,” answers ChatGPT. “1. Invest in tech companies that are developing AI products or services; 2. Invest in venture capital funds that specialize in AI startups; 3. Invest in AI-related stocks,” for starters .
Examples of tools from tech companies working with AI are Microsoft, IBM and Google parent Alphabet. In terms of AI-focused companies, there were Nvidia, Intel and Applied Materials.
It also suggests AI-focused ETFs such as the Global X Robotics & Artificial Intelligence ETF and the ARK Innovation ETF, a fund run by high-profile manager Cathy Wood.
“Buy shares of private AI companies,” he also replies, “via crowdfunding or venture capital firms.
The allure of ChatGPT lies in its natural language capability, so I asked him:
Which companies can I invest in to gain experience in Natural Language Processing?
Your answer:
1. Amazon (AMZN). Amazon is a leader in Natural Language Processing (NLP), leveraging its AWS platform to offer customers a suite of NLP solutions including Amazon Lex, Amazon Comprehend, and Amazon Transcribe.
2. Microsoft (MSFT). Microsoft has several different NLP products, including Microsoft Cognitive Services and the Azure Machine Learning Platform. (ChatGPT didn’t tell me that Microsoft plans to become a $10 billion investor in OpenAI—about $9.2 billion at current rates.)
3. Google (GOOGL). Google has a variety of NLP products, including Google Cloud Natural Language and Google Cloud Speech-to-Text.
4. IBM (IBM): IBM has several different NLP solutions including Watson Natural Language Understanding and Watson Discovery.
5. Apple (AAPL): Apple has a variety of NLP solutions, including the Apple Machine Learning Platform and the Natural Language Framework.
Writing notes, reports and publications, data summarization and simplification of laws: this is how companies like Jobandtalent or Expensya are starting to use ChatGPT in Spain
“The buzz around AI has spread into retail investing,” Wanda Research, which tracks retail investment activity in more than 9,000 stocks and ETFs, said in a note this week.
ChatGPT doesn’t mention C3.ai, but I forgive you. Shares of C3.ai Have More Than Doubled This Year, Coming After Makers of This Week’s Growth software Enterprise AI has said it will integrate ChatGPT into its line of AI tools.
For now, you cannot invest directly in the OpenAI Research Lab. But I’ve asked ChatGPT anyway: Can I invest in ChatGPT?
“No, ChatGPT is not an investment platform. It is a platform that allows users to earn rewards just by chatting with bots.”
