ChatGPT has the ability to provide the best financial advice, as it has recently shown the capability to understand the most intricate phrases by central bankers as well as distinguish between beneficial and negative news headlines. This is due to its ability to identify patterns in textual data and write sophisticated answers.
To check ChatGPT’s accuracy, two studies were done, such as “Can ChatGPT decipher Fedspeak?”by Federal Reserve experts. As a result, this AI outperformed other available software in the market.
ChatGPT is a huge language model which is trained on billions of words present on the internet, and further refined by feedback from experts. In addition, it can create computer code in an effective manner.
OpenAI is a company that develops artificial intelligence through deep learning. Its team is made up of prominent people in the technology world, including Elon Musk, Microsoft executive Peter Lee and former Google DeepMind CEO Demis Hassabis. It’s well-funded and has impressive endorsements from top technology companies, including Microsoft and Amazon.OpenAI is dedicated to creating research technology to achieve its goal of advancing digital intelligence in the world.
Two researchers from the Federal Reserve are behind the discovery of ChatGPT. The two academics, James Fazzari and Shawn Sau-Ling Chen, collaborated to inquire if ChatGPT had the ability to understand the often cryptic language of central bankers’ speeches. After running tests, ChatGPT was able to recognize the correct meaning of the trends in the headlines in the newspapers, categorizing them correctly as beneficial for stocks or not.
The success of ChatGPT is an important step forward in the world of artificial intelligence technology, with more studies needed to continue developing better software in the future.
