To make matters worse about the AI - Jamie Dimon (CEO and billionaire) of $JPM announced on Thursday that JPMorgan is currently already developing a ChatGPT-like AI app that will give personalized investment advice and recommendations to the bank's clients.
For me, it's an amazing tool if I imagine something along the lines of - here's X amount of money lying in my account that I won't need for 2 years now, a traditional savings account is not enough and I'm willing to take some risk (possibly even pay some insurance against loss) but at the same time I don't want to "actively" invest - you're holding GPT, do your best and I'll correct you as much as possible (and throw me a notification every day what you bought where and why).
Or maybe the AI will analyze my payments and then offer to buy shares in the companies I buy products from so I have a chance to "get something back"
Would you be up for that? :)
It's definitely interesting. I would take it as some new information, but I probably wouldn't rely on AI alone.
I wouldn't go for it because I prefer to manage my own money, but it may add value for someone. If it works well.