A week before the Federal Reserve’s next meeting, JPMorgan Chase unveiled an artificial intelligence-powered model that aims to decipher the central bank’s messaging and uncover potential trading signals.
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JPMorgan Creates AI Model to Analyze 25 Years of Fed Speeches
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The tool is another push in Wall Street’s never-ending search for a trading edge and one of the earliest adoptions of the technology developed by OpenAI. Earlier this month, a couple of research papers showed that ChatGPT can add value in market-relevant tasks, such as deciphering whether Fed statements were hawkish or dovish, or determining whether headlines were good or bad for a stock.
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