Artificial intelligence has clearly been thriving. The capabilities of AI tools like ChatGPT justify the fervor surrounding the technology. From clearing exams to posing as a potential threat to several jobs, ChatGPT is advancing at an impeccable rate. Alongside its other capacities, a new report highlights how the AI tool can now predict stock moves.
ChatGPT was employed to carry out market-relevant tasks, and two studies about the same were released. One of the studies used the chatbot to determine if Federal Reserve pronouncements were aggressive or meek, and the other to determine whether stock-related headlines were favorable or unfavorable.
The AI chatbot cleared both the above-mentioned tests. This further highlighted how a multitude of text from news articles, tweets, and even speeches could be converted into trading signals.
