Between March 6 and April 28, a dummy portfolio of 38 stocks gained 4.9 per cent while 10 leading investment funds clocked an average loss of 0.8 per cent, according to an experiment conducted by financial comparison site finder.com.
A typical investment fund pulls together money from multiple investors, and is overseen by a fund manager who decides how to invest that money. While major funds have used AI for years to support their investment decisions, ChatGPT has put the technology in the hands of the general public, with the potential to guide the decisions of retail investors.
Since research company Open AI opened up access to ChatGPT in December, the chatbot has stunned users with its ability to provide lengthy, sophisticated responses to questions.