Experts urge caution about using ChatGPT to pick stocks

With AI chatbots growing in popular usage, it was only a matter of time before large numbers of people began applying them to the stock market. In fact, at least 1 in 10 retail investors now consult ChatGPT or other AI chatbots for stock-picking advice, according to a Reuters report published Thursday. Data from a survey by trading platform eToro of 11,000 retail investors worldwide suggests that 13 percent of individual investors already use AI tools like ChatGPT or Google's Gemini for stock selection, while about half say they would consider using these tools for portfolio decisions. Unlike algorithmic trading, where computers automatically execute thousands of trades per second, investors are using ChatGPT as an advisory tool in place of human experts. They type questions, read the AI model's analysis, and then manually decide whether to place trades through their brokers.Read full article Comments