Today's Article

“It just doesn't carry the 7bias that most humans do, so I'm not surprised we're seeing the first wave of AI 8outperform humans when it comes to portfolio management.”

The results of the 9experiment showed that during an eight-week period, a basket of 38 stocks selected by Chat GPT gained nearly 5% outperforming ten leading 10investment funds in the UK, which reported an 11average loss of 0.8%. Meanwhile, a recent study from the University of Florida revealed Chat GPT could 12predict the 13stock price movements of specific companies more accurately than some more basic analysis models. While major funds have used AI for years, economist Drove Rosalis says the technology is now in the hands of the average 14consumer for free and it's up to you to decide whether it can guide your 15financial decisions.

“The promise of this is for American households and their finances is that it's going to 16bolster the overall management of money. You're going to have better 17returns at lower prices and you're going to be able to do more and invest in a wider 18array of products that suit your own 19individual preferences and needs.”

Experts say AI can also help you create a 20budget and tell you how much to save per month in order to reach your long-term goals, like saving for a home or 21retirement.