📈 One in Eight Investors Buys Stocks Based on ChatGPT's Advice
About half of retail investors say they would use AI tools such as ChatGPT or other chatbots as financial advisors, and 13% already buy stocks based on AI recommendations. These findings are based on a recent survey by brokerage firm eToro of 11,000 retail investors worldwide.
Analysts from the Research and Markets company predict that the market for AI investment advisors will grow by 600% by 2029.
Still, experts advise against blindly trusting the financial advice of ChatGPT, Gemini, and other language models, recommending instead the use of AI platforms specifically trained to analyze stock markets.
"General AI models can misquote figures and dates, lean too hard on a pre-established narrative, and overly rely on past price action to attempt to predict the future," explains Dan Moczulski, managing director at eToro in the UK.
Would you trust AI with your investments?
❤️ — Yes, absolutely
🎃 — I won't give my money to algorithms!
