Following a successful algorithm developed by a prominent AI specialist, ChatGPT, the sophisticated AI language model, is prepared to take on the trading world with a genuine $50,000 portfolio. The ChatGPT team met with experts this week, including Alejandro Lopez-Lira, a professor at the University of Florida and a Wharton PhD who created a ChatGPT algorithm that produced a 400% return.
The chance will exist for individuals keen to join the ChatGPT portfolio. On the same day as the first set of deals, the investment option will go live, allowing interested parties to maybe profit from the AI’s trading expertise.
ChatGPT will start trading the $50,000 portfolio on Monday, applying the knowledge they gathered from their discussions. Followers may get updates on the algorithm’s operation, stock recommendations, analysis, performance, and more from the dedicated account @chatgpttrader.
The person responsible for the 400% gain, Alejandro Lopez-Lira, used GPT to analyse news items and purchase or sell stocks according on the sentiment inferred from the headlines. This ground-breaking technology generated a startling 400% return (before transaction expenses), outperforming conventional sentiment analysis techniques.
The study discovered that ChatGPT could accurately forecast stock market returns by analysing the mood of news headlines to determine if the news was favourable, unfavourable, or irrelevant to a company’s stock price. A positive association between the ChatGPT scores and subsequent daily stock market results was found by allocating a numerical score.
The introduction of ChatGPT to the trading market might have an impact on cryptocurrencies and other digital assets in addition to traditional equities. Additionally, given the volatility of cryptocurrencies, the use of AI-powered sentiment research might aid traders and investors in more efficiently navigating the sometimes ambiguous market circumstances. In a cryptocurrency market that is expanding quickly, ChatGPT may provide useful data to improve trading tactics and investment choices.
