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Experts urge caution about using ChatGPT to pick stocks
AI-selected portfolios might perform well in a growing market, but experts warn of downturn risks.
Reuters reports that financial products comparison website Finder asked ChatGPT in March 2023 to select stocks from high-quality businesses based on criteria like debt levels and sustained growth. Reuters frames the AI trading advice trend as a case of new technology tools "democratizing," or opening up, investment analysis once reserved for institutional investors with expensive data terminals. He noted that general AI models "can misquote figures and dates, lean too hard on a pre-established narrative, and overly rely on past price action to attempt to predict the future."
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