Investors have been eagerly exploring the possibilities of OpenAI’s ChatGPT, which can quickly answer questions and provide difficult-to-find information. However, its utility for investing has been limited by its inability to provide recent market information. When asked if we’re currently in a bear market, ChatGPT responds that its training data only goes up to September 2021 and it cannot provide information on anything past that date.
Despite this limitation, ChatGPT can still be used as a teaching tool for investors. It can explain complex investing topics in a clear and concise way, making it especially helpful for those who are new to investing or trying to learn about a new industry or stock market sector.
However, investors must also recognize the limitations of AI chatbots when it comes to making stock picks. While a chatbot like ChatGPT can outperform the market over the long term, the stock market is constantly changing and subject to real-world events that even a perfect computer cannot predict. It is therefore important for investors to use ChatGPT for educational purposes rather than relying on it as a personal stock picker.
In short, while ChatGPT may not be able to provide investors with the latest market information, it can still be a valuable tool for those looking to learn about investing and improve their investing strategies.
