Some people have asked ChatGPT to suggest stocks that Warren Buffett $BRK.B might invest in. There are two main issues with this question. ChatGPT had a data cutoff in 2021, and it won't have any up-to-date information for any company. Secondly, it searches logically over the internet and books for prompt answers. And if asked to suggest stocks that Warren Buffett might invest in, it will probably use some existing algorithms. Thus, we have reduced ChatGPT to an investing algorithm with better language capabilities.
While I'm not a fan of using algorithms to invest as they are limited to only certain parameters, using ChatGPT can help you as an investor. For example, you can ask it to explain something complex in simple language if you are analyzing a new sector. It saves you time instead of you having to Google everything.
Besides, it is not just about ChatGPT but about Artificial Intelligence (AI) in general for investing. AI will play very important in the coming decades. We should not rely 100% on it, but at the same time, we have to use it.
https://www.youtube.com/watch?v=0rnObiu0v38
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