SEO description: "A new study by TU Dresden shows how AI tools such as ChatGPT can help with investment decisions and questions whether traditional financial advisors will still be needed in the future."
At a time when artificial intelligence (AI) is increasingly being used in various industries, a study by TU Dresden has now investigated how AI, in particular ChatGPT-4, can support investment decisions. According to the research findings of Professor Lars Hornuf and his team, the portfolio suggestions generated by ChatGPT-4 are comparable to those of professional investment advisors.
The financial world is facing a potential revolution. Many investors feel overwhelmed when choosing a suitable investment and traditionally rely on the recommendations of financial advisors. However, these are often subject to conflicts of interest, which can lead to recommendations that serve the advisor more than the client. Hornuf, who teaches business administration with a focus on financial services and financial technology at the TU Dresden, explains the problem and emphasizes the importance of unbiased advice.
