In a recent non-peer-reviewed paper, he wrote that after using ChatGPT to analyze whether news headlines were favorable or unfavorable for a stock, he found that ChatGPT was able to predict the direction of next-day returns far better than chance.
The experiment goes to the heart of advanced AI: With more computing power and better data sets, these AI models may exhibit entirely new capabilities that were not originally anticipated when the AI ​​models were built. middle.
If ChatGPT has the ability to understand financial news and analyze how it might affect stock prices, it could put some high-paying jobs in finance at risk. Goldman Sachs estimated in a report on March 26 that about 35% of financial industry jobs are at risk of being automated by artificial intelligence.