Investors looking for a useful resource to help them stay on top of their game may find ChatGPT to be a helpful AI tool. Since its release in 2022, ChatGPT has become the fastest-growing consumer application ever, reaching over 100 million monthly active users within two months. Despite its fame, the tool has been limited in its ability to provide real-time information on companies’ finances, market conditions, sector trends, and other relevant details. However, new upgrades to the tool have changed this.
ChatGPT’s web browsing and plugin features are now available to users who pay for the premium version, ChatGPT Plus. These features enable users to fetch real-time data from the web and interact with other platforms and services that provide valuable investing information on both markets and companies.
As a sound investor, having a resource that provides up-to-the-minute information can be crucial in making informed investing decisions. With the web browsing feature, users can request recent news about a particular company and receive the latest information available.
Sentiment analysis, which gauges public sentiment about a company or industry by scanning articles, social media posts, forums, and web pages, is another advantage of the web browsing feature. Understanding market sentiment can help investors decide when to enter and exit a particular market or stock.
The plugin feature, on the other hand, allows users to interact with various platforms and services, analyze metrics like price-to-earnings, debt-to-equity, and price-to-sales, and fetch financial reports and other valuable information for analysis. Analyses can help users make informed decisions about buying or selling a particular stock.
Though ChatGPT can be a valuable resource to investors, it shouldn’t be the only one. The tool can return information in a fraction of the time a user could look it up and break down complex topics. However, human insight remains crucial in making informed investing decisions. Personal insights into management, gut feelings, and personal experience cannot be replicated by AI.
Balancing ChatGPT’s capabilities with human insight can help investors make informed decisions that fit their needs. A combination of ChatGPT’s analysis and human insight might be more valuable than relying solely on the AI tool. Ultimately, investors have the last say in deciding what decisions to make, and ChatGPT can only provide tools and analysis to aid that process.
