Opinions on ChatGPT as a product and it’s usefulness for financial information
I have been playing around with ChatGPT and I truly think it is revolutionary. I can ask it any question and it articulates an answer that is readable and provides good information. For example, I asked it what the outlook for Google for the next five years is looking like given the current economic conditions and it said this :
“Google is well-positioned to weather the current economic situation. It is a successful, established business that is constantly innovating and adapting its services while keeping a significant share of the online advertising market. Over the next five years, Google is likely to continue to grow and dominate the online advertising arena, as well as expanding into other markets such as cloud storage, streaming services and artificial intelligence. Additionally, the reach of Google's parent company Alphabet will continue to expand and make use of the data it collects on its users for more targeted marketing and increased efficiency. Google may face some challenges as competition increases over the next five years, but its reputation, resources, and financial stability position them to continue to thrive.”
The problem is that it only accomplishes the readable part. It often gets basic facts wrong (a popular example is how it says a peregrine falcon is the fastest marine mammal), and you have no way to fact check whatever it spits out. I've also found that while it does a good job synthesizing existing things people have written (ignoring the fact issue), it does a bad job with creating compelling arguments
I think AI tools like ChatGPT can be helpful in quickly getting to ~80% done versions of busywork type stuff (e.g. imagine if you could feed it data and write summaries replicating a given format), but it does not yet produce credible answers
ChatGPT has the ability to mix facts, dates, amounts.
it is great but not to be fully trusted.
yet
BloombergGPT/LLM with private data sets is going to be fucking off the wall
Exactly, that's why I never understood how some people claimed that it will "substitute" google after a few years?! All it can do is merely synthesize an answer based on whatever info it can leech out of google's SERPs for the chosen query. So, it can save you time if you're doing copy writing or similarly menial tasks - anything that isn't factually-written content, basically...
Thing is, LLMs are language models… they can speak. They are not logic models or knowledge models. And in reality when I use it, I end up having to edit so much that I’m not sure it actually saves time. It certainly gives the impression that it saves time. For certain menial things it definitely saves time and gets creative, but not yet appropriate for industries that need accuracy.
It will be! Too bad we dont have Bloomies... mostly use CapIQ, FactSet, Dealogic, Refinitiv, etc....
But for the GPTs.. imagine when it starts doing CIMs, teasers, pulling comps, and other dreaded items...
Awful. I had it do a very simple math question and it can't even do that.
Piece of fuckin trash
Wow, the sheer level of ignorance on display here... I'm aghast at this!
The Rise of the Machines is coming.
Username checks out
You guys are just bad at prompting. You sound like the type of guys to type full sentences into Google when you're looking for something.
Worst piece of shit thing I've ever used.
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