Tag: Finance

. Mobvoi, a Chinese tech firm, is reportedly aiming to raise $300 million through a Hong Kong initial public offering (IPO). Two banks are chosen to be part of the first-time share sale namely the China International Capital Corporation and the China Merchants Bank International. This move follows the launch of their in-house Artificial Intelligence (AI) platform. Mobvoi creates a variety of AI services, for areas such as finance, telecoms and elderly care, and has gotten funding from Google, Volkswagen, Sequoia and Zhenfund. The IPO launch could come as early as this year.

ChatGPT, the AI chatbot by OpenAI, has shown reliable results in predicting stock price movement, as backed up by a new University of Florida paper. Comparing over 50,000 headlines from NYSE, Nasdaq and more, ChatGPT outperforms traditional models with its advanced language understanding capabilities. Its accuracy has been tested in a survey by a financial comparison site, revealing a 4.9% growth amid the average 8% loss of leading funds. AI for asset management may soon lift global GDP by 7% and productivity growth by 1.5 percentage points. OpenAI's progress with ChatGPT brings future opportunities in finance and technology.

Gain an understanding of the U.S. debt ceiling, a factor that could hold implications for the global economy, with the help of AI-based ChatGPT. Hear a breakdown of the complex topic as provided by Yahoo Finance with the "ChatGPT explains the U.S. debt ceiling #shorts" video and learn more about the consequences of a growing debt ceiling.

OpenAI, founded in 2018 by Elon Musk, Sam Altman and Greg Brockman, is a San Francisco-based research laboratory. With the development of sophisticated AI technology, data protection issues have become increasingly important. OpenAI responded to the block imposed by the Italian Data Protection Authority, Garante, at the end of March by introducing greater transparency and opt-out for users in the EU. More recently, EU Parliament's AI Act has been concluded, which means generative AI systems such as ChatGPT will be examined on a case-by-case basis, with additional guidelines on data quality and cyber security. Private AI and Microsoft are also exploring ways to make GPT language models privacy-friendly.

AQR, a quantitative asset manager, is utilizing cutting-edge ChatGPT Generative Artificial Intelligence to try and improve investment returns. This tool has successfully generated results surpassing market returns from 2004 to 2019. Though ChatGPT is not intended to predict future returns, parts of its language model can still be used for optimizing portfolio construction by translating publicly available financial data into numerical representation. AQR also looks into other generative AI tools like Meta's OPT & Google's BERT. It is led by experienced finance professor Bryan Kelly.