ChatGPT is a powerful artificial intelligence (AI) chatbot that can answer questions in natural language. In just a few short months, ChatGPT has racked up over 100 million users across the world. Though it can provide investors with objective information about stock markets, investment trends, and asset allocation, the chatbot doesn’t know the unique individual preferences of users’ investment decisions.
On the other hand, the chatbot can provide well-researched, best practice advice on risk tolerance, portfolio diversification, and goals setting. Ultimately, however, investors must be able to draw on their own personal understanding of different investments and make decisions based on their goals and circumstances.
All objective facts aside, investing is an incredibly personal experience, and each person’s journey is shaped by individual biases, experiences, and goals. That is why it is important to understand comfort levels when it comes to investments and to be able to rely on the advice from people who have the investor’s best interests in mind.
As technology advances, it is likely that chatbots will become more refined and will be able to better understand individual preferences for investments. For now, however, chatbots cannot take into account the individual’s goals and aspirations—and reliance on intuition to best make the decision is key.
The Motley Fool is a privately held global media and financial services company founded in 1993 by brothers David and Tom Gardner. Through their writing, podcasts, and investing services, they provide personal finance and investing advice to investors. Through the delivery methods and style, The Motley Fool conveys investing strategies with an approachable and informative style. While the Gardner brothers provide engaging commentary about the stock market, they also emphasize the importance of trusting one’s intuition and knowledge when investing and advise expert consultation before making a large financial decision.
