ChatGPT has arrived.
If there was a popularity contest among AI tools, ChatGPT would almost certainly top the list. The chatbot has a talent for giving engaging and dynamic answers that mimic human conversation and are packed with insight. We wondered, can the ChatGPT also give investment advice?
The answer was an unequivocal maybe.
Like almost every answer derived from a machine, it must be taken with a grain of salt, or at least with a few caveats.
The question I asked ChatGPT is a question that is likely on the mind of many investors these days, how do I Invest in ChatGPT?
Here was its replay.
“ChatGPT is a language model developed and maintained by OpenAI, a private artificial intelligence research laboratory. As such, it is not publicly traded and cannot be directly invested in. However, you can invest in the parent company OpenAI by purchasing shares in venture capital funds that have invested in the company. It is also possible to invest in other companies that are working on similar technology or that may benefit from advancements in natural language processing and machine learning, such as companies in the technology or software industries. However, it is important to research and consult a financial advisor before making any investment decisions.”
As a follow up question, I asked ChatGPT what public companies invest in natural language processing and machine learning.
Here is what it said.
“There are many public companies that invest in natural language processing (NLP) and machine learning (ML), as these technologies are used in a wide range of industries. Some examples include:
· Google (Nasdaq: NASDAQ:GOOGL): The company has a strong research focus on NLP and ML, and offers a number of products and services that use these technologies, such as Google Translate and Google Assistant.
· Microsoft (Nasdaq: NASDAQ:MSFT): The company has a large research division focused on NLP and ML, and offers a number of products and services that use these technologies, such as Microsoft Azure Cognitive Services and Microsoft Dynamics 365.
· Amazon (Nasdaq: NASDAQ:AMZN): The company offers a range of NLP and ML services through its Amazon Web Services (AWS) division, including Amazon Transcribe, Amazon Translate, and Amazon Comprehend.
· IBM (NYSE:IBM): The company has been investing in NLP and ML for many years, and offers a number of products and services that use these technologies through its IBM Watson division, such as IBM Watson Language Translator and IBM Watson Assistant.
· Facebook (Nasdaq: NASDAQ:META): The company has a large research division focused on NLP and ML, and uses these technologies in many of its products, such as the Facebook News Feed and Facebook search.
· Baidu (Nasdaq: NASDAQ:BIDU): China's largest search engine, Baidu has a research division focused on NLP and ML and offers a range of services that use these technologies, such as Baidu Translate and Baidu Duer, a virtual assistant.
· NVIDIA (Nasdaq: NASDAQ:NVDA): The company is a leader in GPU technology, which is widely used in NLP and ML for training deep learning models.”
ChatGPT added, "It is important to note that investing in a public company carries its own risks, therefore you should always do your own research and consult with a financial advisor before making any investment decisions.”
The answers it gave were, admittedly, not bad for a machine and were even somewhat useful, but it is still appears to be far from a new dawn for investors, and one has to wonder if ChatGPT is really being upfront with its readers. If ChatGPT is going to give investment tips loaded with declaimers, why not disclose Microsoft's stake and partnership with its parent company? Microsoft's January investment in OpenAI may be outside the data the algorithm pulls from, but Microsoft has invested in OpenAI since at least 2019. This is information ChatGPT should know and probably disclose. On the other hand, it's just a machine.
By Louis Juricic