Chatgpt: Artificial Intelligence (AI) Chatbot is going to complete three years of Chatgpt. This AI tool of Openai is now being used on a large scale. This can understand the language of humans and answer it. In a way, it has brought a revolution in the digital world. Alam is that in today’s time one in 10 retail investors are using chatbott to choose stock. This has led to a wonderful boom in the Robo-Advisory Market. However, the fans of Chatgpt themselves believe that it is a high-risk strategy, which cannot currently replace traditional financial advisors because it is at a great risk.
Robo-assay market revenue boom
With the help of Artificial Intelligence, one can miss the stock, monitor it and get analysis related to investment. This facility was earlier available with big banks or institute investors. According to data analysis firm Research and Markets, Robo-Advisory Market is estimated to increase by $ 470.91 billion by 2029, which was $ 61.75 billion last year. That is, there is going to be a jump of about 600 percent in it. This includes companies offering automated-algorithm-drained financial advice like Fintech, bank and wealth manager.
AI tool started to be used in choosing stock
Jeremy Lewn, who has been analyzing companies for the UBS for a long time, has been using chatGPT to detect stock for his multi-asset portfolio since last year. He says that he does not have the facility of Bloomberg (terminal) or such market data services, which are quite expensive. As a lewn, “A simple chat GGPT tool can also do a lot.” He also warned that many times it misses the very important analysis, which is a pay-wall i.e. money services ahead. “
However, it is not alone to take this list, who are using chat GPT tools to choose stock. About half of retail investors say that they will also use AI tools like ChatjPT to choose stocks. According to a survey by broker Etoro, a survey of 11,000 retail investors worldwide, many retail investors say they will use AI tools such as Chatgpt or Google Gemini to choose or change stocks in portfolio. Of these, 13 percent are already using them. 40 percent of people in Britain have used chatbott and AI for personal finance advice.
Warning giving chatgpt
The chatGPT itself is warning that he should not be trusted for professional financial advice. “AI models can be fantastic. Risk comes when people use general models like chat GPT or Gemini as crystal balls as a crystal ball,” said Etoro’s Managing Direct Dan Mokzulsky said in the UK. Mokzulski said that it is best to use only AI-birthted platform created for market analysis as normal AI models can tell data wrong or cannot give correct information about dates. In such a situation, they cannot be trusted too much. “
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