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In a bid to see how close technology really is to replacing Wall Street’s army of analysts, experts and money runners, we challenged ChatGPT, the artificial intelligence tool that’s taking the internet by storm, to create us a winning portfolio for the US stock market. The result: A classic exercise in fence-sitting, with the tool explaining that the market is too unpredictable to design such a fund, while warning about the need to pick investments aligning with our goals and appetite for risk-taking.
“It works best when it can catch on to momentum names in the growth space,” said Jessica Rabe, co-founder of DataTrek Research. “It struggled to find momentum names in a highly volatile stock market last year, and when it’s had the best track record, it’s been during bull markets when it favors tech names.”
