Anyone asked new AI like ChatGPT or Bard for investment advice? If so, what was the advice?
You can just do it yourself. It’s trivial to set up an account.
Chat GPT: What is your investment advice?
As an AI language model, I am not licensed to provide specific investment advice or recommendations to individuals. Investing can be a complex and risky activity, and it is important for individuals to seek guidance from a financial advisor or conduct their own research before making any investment decisions.
However, I can offer some general principles for investing:
- Diversify your portfolio: Spreading your investments across different asset classes, such as stocks, bonds, and real estate, can help to reduce risk and increase potential returns.
- Invest for the long term: Short-term market fluctuations can be unpredictable, but historically, the stock market has tended to trend upwards over the long term.
- Consider your risk tolerance: Different investments carry different levels of risk, and it is important to understand your own tolerance for risk before investing.
- Stay informed: Keep up to date with market trends and economic news, and regularly review your investments to ensure they align with your goals and risk tolerance.
Again, it is important to seek professional financial advice tailored to your specific circumstances before making any investment decisions.
Maybe BloomberGPT would be more specific in its advice.
Unlike the broadly known ChatGPT technology, BloombergGPT does not have a public-facing chatbot interface. In other words, there is no BloombergGPT website into which you can type a query such as “write an investor letter” and then receive a relatively believable result.
Instead, BloombergGPT is being integrated into Bloomberg Terminal, improving the ability of users to find the information they’re seeking from the platform.
The ‘users’ being large institutional investors, portfolio managers, and financial analysts.
Only a matter of time before something might be available for investors like us but would you trust the ‘advice’ over the ‘advice’ of a human ‘expert’?
As I understand the technology, it’s not like a chess AI that will sometimes come up with never before seen strategies. It will regurgitate common wisdom rather than coming up with novel investment ideas.
I’d say for the moment it’s best use might be to help in getting you into (though you might need to verify)
This YouTuber gives a prompt you can train ChatGPT with to break its own rules of not giving advice ChatGPT Just Gave Me Financial Advice - YouTube
I just registered the freetrade.ai domain.
Maybe you could register someone from your staff to spend some time on here.
Seems to be a severe lack of interaction from staff.
The ’ transfer out of FT thread ’ is a good example - if people speak poorly of FT and its perceived lack of Customer Service and FT dont bother replying on their own forum, kinda looks bad.
As a new investor, wondering if im with the right company, its pretty amateur.
Someone assigned to spend 1-2 hours a day giving FT input into discussions would make a world of difference here.
Thanks for reading
Good to see you on the forum, @adam!
Very keen to know what your thoughts/plans are with this domain!
Care to share…!?
If nothing else, registering the domain prevents cybersquatting.
I would imagine language models being more immediately useful in triaging support requests to free up customer services and improve response times.
If a chatbot did give advice,some share would fly others would fall over a cliff.
Therefore making the latter the better option.
Then chatbot would change its views.
The market would be up and down like a yo-yo.
Assumption being that chatbot could work out wherever the humans running the business are going to make any investment mistakes themselves.
I would assume the chatbot cannot take into account the interaction of all the humans which run companies and the shareholders who own the shares.
Maybe it could give you a slight edge.
But it would probably be based on the past.
Would it be able to know what bonds SVB held?
IE long dated which caused there demise.
So it would need inside information to predict the latter.
Not going to happen.
Noted, Bob. Thanks.
For the long-time community member, there have been noticeable ebbs and flows in how much staff time we dedicate to engage in the forum directly. Recently we have taken a more ‘let it run’ approach while focussing on moderation. We do have a staff rota to make sure we have real people monitoring every day.
I think the forum has generally moved from being focused on Freetrade the company (many shareholders) to more of a discussion on stocks/other companies, which is the direction we wanted to go.
But it does feel like we have lost some of what made the forum special in the first place. There is no reason we can’t have lots of stock talk and company talk on the same forum!
You’ll hear more from me and @Viktor on the forum going forward.
On the domain, better to grab it now.
On AI, personally, I have to go back to logging in to the internet for the first time on a 14.4k modem in the early 90s for a similar feeling of awe of what is possible with a new technology.
Internally we are of course experimenting with the new AI tools available. We, and other startups, are best placed to leverage the productivity gains that come with brand new tools and processes.
How we enable our customers to leverage AI for investing is an open question. I am personally looking into how a FT/ChatGPT plugin could work, for example. But we are hyper conscious of not giving access to our customer and other proprietary data.
I wonder how others are thinking about this and probably using ChatGPT already to help make investment decisions?
For sure. We use a chat bot right now to address most customer service inquiries but the experience is going to get a lot better.
Not sure if you have seen this (we run customer service on Intercom): Introducing Fin: ChatGPT for customer service | Intercom
Thanks for the repsonse.
A presence is important. A voice talking back more so.
Look at businesses with top customer service ratings on trustpilot for example. They respond quickly to deal with issues and criticism to reassure onlookers.
FT needs to do the same with issues raised on this forum…show you have a grip of things and listen to customers.
My thoughts anyway…thanks for reading.
AI based support is good if it’s well integrated and it works! The current tools (generally) are a bit dumb, it’ll be interesting to see how these new AI advances change that. Smarter responses ? Ability to automate more types of requests?
This seems to be a nightmare to balance. Some tools are much better suited for handling corporate data and IP, others… Not so much. And employees (at my work) seem to not quite grasp the importance of that difference just yet
ChatGPT needs to learn to count before I trust it with any financial decisions
Ditto Google Bard (among some other weird answers I got on some different subjects).