ChatGPT has caused a ripple in the market, racking up a staggering amount of 100 million users in just two months. Many of its users have come up with custom features to skirt around the rules that the bots are programmed to follow. Yahoo Finance’s Rachelle Akuffo discussed with University of Florida’s Warrington Business College Assistant Professor Alejandro Lopez-Lira, the possibilities of ChatGPT helping stocks traders.
Lopez-Lira’s approach to this matter was to make use of the chatbot’s ability to judge how a particular newsheadline can be either beneficial, harmful or mainly irrelevant to the price of a stock. He stated in his chat with Akuffo that when everyone makes use of ChatGPT, the market would become more accurate in predicting the return valuesof stocks. He further went on to say that professionals in the trade market should consider using AI tools like ChatGPT in their strategies.
The company mentioned in the article, ChatGPT, is a one-of-its-kind interactive conversational AI engine that enables users to converse with bots in real-time. Its conversational capabilities make it an ideal tool for stock trading as it can detect potential opportunities for investments wide and far.
Alejandro Lopez-Lira is an assistant professor at the Warrington College of Business from the University of Florida. He has studied the impact of AI on the world of finance and believes that AI tools like ChatGPT will revolutionize stock markets. He advocates for the use of AI-based strategies for stock trading so that professionals can benefit more from quick and accurate decisions when investing.
