ChatGPT and other AI bots are bad stock pickers - but they can still help investors, Bridgewater co-CIO says
ChatGPT and other intelligent language tools are bad at picking stocks – but that doesn't mean there's not a role for AI in the world of investing, according to Bridgewater's co-CIO.
Greg Jensen said Monday that while large language models like OpenAI's chatbot are"awful" at reading the market, the world's largest hedge fund is using them to produce hypotheses that are then tested through rigorous statistical analysis. "If somebody's going to use large language models to pick stocks, I think that's hopeless – that is a hopeless path," he toldBridgewater is instead"combining large language models that are bad at precision with statistical models that are good at being precise about the past but terrible about the future," he added.
Jensen's comments seem to chime with what people love – and hate – about large language models like ChatGPT.
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