Is ChatGPT and artificial intelligence the future of investing? Can AI pick stocks? Want to see the 7 Stocks I’m Buying No Matter What? My FOREVER STOCKS! https://youtu.be/aga8lW-6UI4
ChatGPT is the big buzzword right now, inciting fear that artificial intelligence will soon replace all humans in their jobs. While some of the dialogue produced from the software is interesting, can it really do as much as promised…and can it pick stocks?
There are quite a few ETFs that claim to use some level of machine learning or AI to construct portfolios. Most are extremely small but there are a couple larger examples. The AI Powered Equity ETF (AIEQ) holds $102 million in assets and uses a quantitative model running on IBM’s Watson platform to assess 6,000 U.S. stocks. The program scrapes regulatory filings, news stories, sentiment gauges and valuation models to position across stocks. The AI Enhanced Value Fund (AIVL) is larger at $419 million in assets and uses a quantitative AI model to select stocks based on value characteristics.
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.