ChatGPT: how to use AI as a virtual financial adviser

From chatbots and virtual assistants to fraud detection and risk management, artificial intelligence (AI) is now being used in many areas of finance. But what could an AI system like ChatGPT do for your bank balance?

AI tools might seem overly complex or expensive to non-experts, but advances in natural language processing and machine learning could turn ChatGPT and similar products into virtual personal finance assistants. This would mean having an expert on hand to help you make sense of the latest financial news and data.

Staying on top of business news and financial market trends is important for making informed investment decisions and gaining an edge in the markets. Companies already use these tools to perform what finance professionals call “sentiment analysis”.

This involves analysing financial news and statements to generate insights and predictions for investors about shares and other investments. For example, Morgan Stanley’s AI models analyse a wide range of data – including news articles, social media posts and financial statements – to identify patterns and predict stock prices.

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