ChatGPT Financial Forecasts of Stocks | OpenAI | Page 1

nimble lark Dec 10, 2023, 3:05 AM

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Project Name: ChatGPT Financial Forecasts of Stocks
OpenAI Technology Utilized: ChatGPT 3.5
Project Details: ChatGPT is able to issue forecasts about financial measures (revenues, price-to-earnings, return on equity, etc.) of public firms, which is largely the task of human financial analysts. We run a fair horse race between ChatGPT and human financial analysts and compare the forecast errors.

It is no surprise that human financial analysts are optimistic biased relative to realized outcomes due to over confidence or conflicts of interests, as documented in the finance literature. What surprises us is that ChatGPT has fewer forecast errors than humans in the measures we consider.

The figures illustrate the comparisons and imply that ChatGPT can assist humans in reducing their financial forecast errors. Those are the key takeaways of our paper Can ChatGPT Reduce Human Financial Analysts' Optimistic Biases.

Any comments are welcomed and I am glad to offer details here!

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Can_ChatGPT_Reduce_Human_Financial_Analysts_Over_Optimistic_Bias_0728_14.png

trim lantern Dec 10, 2023, 3:55 PM

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Interesting. Where can I find more info? Is there a document or some code?

normal owl Dec 14, 2023, 9:39 PM

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Nope

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It’s a clout seeker

nimble lark Dec 16, 2023, 2:47 AM

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trim lantern Interesting. Where can I find more info? Is there a document or some code?

I can't post a link not from OpenAI here. Searching keywords in the 3rd paragraph of the project details above will lead you to the publication. You may also reach the corresponding author for code, data, etc. Thanks for your interest! 🙂

nimble lark Dec 16, 2023, 2:51 AM

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normal owl Nope

It's seeking both clout and discovery lol

normal owl Dec 16, 2023, 2:52 AM

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Wait you work for OpenAI?

#ChatGPT Financial Forecasts of Stocks