Michael Brush: ChatGPT may be good at your job, but AI is a terrible stock picker

by | Feb 16, 2023 | Stock Market

The artifical intelligence bot ChatGPT gets so much praise, I had to see what it knows about investing. To put ChatGPT’s AI to the test, I posed several simple but common investing questions to find out how it does. To be fair to ChatGPT, I tried to stick to questions that need no data from after the start of 2021, since that is the cutoff for its database. 

What I found was disappointing. The artificial “intelligence” behind ChatGPT mostly fails as an investing tool. Read: Let’s stop pretending—ChatGPT isn’t that smart I separated question types into three types: 1) Investing basics; 2) Simple insights on companies and sectors, and 3) Insights that are “meals for a lifetime” because you can regularly use them as part of an idea discovery process and investing strategy. Think of this last category as insights on how to get insights. That’s what you want most, if you are investing.  Each tier calls for a higher level of intelligence. Since ChatGPT is supposed to be based on AI, I was expecting great performance in all three categories. Unfortunately, the more intelligence required, the worse ChatGPT does. Except for simple research on investing concepts and company basics, ChatGPT isn’t much use for investors. Let’s take a look at ChatGPT’s successes and failures. For brevity, I do …

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