ChatGPT-powered Wall Street: The benefits and perils of using artificial intelligence to trade stocks and other financial instruments

by Pawan Jain, West Virginia University, [This article first appeared in The Conversation, republished with permission]

Artificial Intelligence-powered tools, such as ChatGPT, have the potential to revolutionize the efficiency, effectiveness and speed of the work humans do.

And this is true in financial markets as much as in sectors like health care, manufacturing and pretty much every other aspect of our lives.

I’ve been researching financial markets and algorithmic trading for 14 years. While AI offers lots of benefits, the growing use of these technologies in…