Trader
Financial trading is another area within which ChatGPT will soon be making a huge impact, with financial experts already citing the AI’s ability to help with coding trading strategies, indicators, and forecasting market trends.
Here’s a rundown of how traders might adopt the technology:
Technical analysis: Traders with the right background knowledge in coding might use ChatGPT to code a strategy or solution for a trading platform.
Fundamental analysis: A trader can use ChatGPT to draw insights from social media and financial news articles. When used together with a solid trading strategy, these insights guide and inform investment decisions.
Sentiment analysis: ChatGPT can be used to identify a positive or negative sentiment about particular trends or stocks from the news being circulated about it on the web, for example on social media channels.
Financial Analyst and Financial Advisor
The roles of the financial analyst and personal financial advisor revolve around assessing financial reports, income sheets, and cash flow in order to understand and review a company’s financial position. From here, the analyst or advisor can make more accurate predictions relating to a company’s longer term prospects and potential profitability.
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Jobs in personal finance are likely to face significant changes thanks to tools such as ChatGPT due to AI’s ability to identify market trends, recognize successful and unsuccessful investments, and report these findings to the financial advisory team. Most significantly, the AI can take these findings and make suggestions for more profitable investments.
What this means for financial advisors and analysts is not that their roles will become obsolete, but rather that in addition to the automation of mundane tasks, the AI can also support and assist human-led investment decision making.
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