AI Advisor: How Users are Turning to ChatGPT for Money Advice

The world has been struck by a kind of artificial intelligence (AI) meteor in recent months – ChatGPT.

The platform has sent shockwaves rippling through every corner of the information economy while knowledge workers everywhere are grappling with how generative AI may impact their professional lives.

The platform hit the ground running, breaking records within days of its release in late November last year. It took Netflix three and a half years to reach one million users, Twitter two years, and Instagram two months. ChatGPT reached the coveted milestone in five days.

Not only are we reading about ChatGPT dominating headlines, but its responses are often the main content of whole news articles.

Like wildfire

There have been a plethora of news articles that simply show off what ChatGPT can do, with journalists copying and pasting in the bot’s response to various prompts. 

While Pew found relatively few Americans have used ChatGPT for entertainment, learning, or work, other studies show it has proved more popular for investment advice.

Show me the Money

According to a later survey conducted by Motley Fool in April, 47% of Americans have used ChatGPT for stock recommendations. The findings showed Millennials, Gen Z, and high-income Americans were the most likely to seek out ChatGPT’s investing advice.

Yet as with all new technologies, the hype can reach a feverish pitch. It can be easy to get carried away and overestimate the platform’s abilities.

Real Limitations

TOP Dollar Investor

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