ChatGPT  Can Be Used To Predict Stock Moves, Study Reveals

ChatGPT proves its capabilities in finance, can be used to predict stock moves

With the advent of research in the field of finance, bots like ChatGPT are being used to do related tasks.

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The artificial intelligence is living up to the hype and has proven its capabilities in the field during two recent studies.

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The first study assessed ChatGPT's ability to interpret whether Federal Reserve statements were hawkish or dovish.

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The second study assessed ChatGPT's capacity to determine the impact of news headlines on stock prices.

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In the first study, ChatGPT outperformed Google's BERT model and dictionary-based classifications in interpreting the central bank's statements.

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In the second study, a statistical correlation was found between ChatGPT's interpretations and subsequent stock price movements.

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These studies indicate that these findings can help make the technology more accessible to a wider range of finance professionals and unlock new sources of information.

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