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 robo-advisory market


'ChatGPT, what stocks should I buy?' AI fuels boom in robo-advisory market

The Japan Times

'ChatGPT, what stocks should I buy?' AI fuels boom in robo-advisory market Stock picking using ChatGPT requires some financial knowledge and even its adopters say there is a high risk of getting it wrong before getting it right. LONDON - As ChatGPT nears its third birthday, at least one in 10 retail investors is using a chatbot to pick stocks, fueling a boom in the robo-advisory market, but even fans say it is a high-risk strategy that cannot replace traditional advisers just yet. Thanks to artificial intelligence, anyone can select stocks, monitor them and obtain investment analysis that was once only available to big banks or institutional investors. The robo-advisory market -- which includes all companies providing automated, algorithm-driven financial advice such as fintech, banks and wealth managers -- is forecast to grow to $470.91 billion in revenues in 2029 from $61.75 billion last year, marking a roughly 600% increase, according to data analysis firm Research and Markets. In a time of both misinformation and too much information, quality journalism is more crucial than ever.