Thomas Rice reckons there’s at least four ways investors can use artificial intelligence today to search for the best stock picks.
An equities portfolio manager at one of Australia’s leading asset managers boasts that he has already built ways to use artificial intelligence to help uncover winning stocks, save time and potentially beat the market.
“But with ChatGPT or a large language model it drives a semantic understanding that lets you do that.”for nearly a decade, said he coded a weekly report that stores headlines for thousands of companies, and then ChatGPT tells him which headlines to focus on. “You can take a transcript of a call [with a company’s management team] and ask ChatGPT what were the main concerns raised by analysts. That’s interesting to get a quick snapshot,” he said.
“ChatGPT is not going to do that analysis for you, or pick stocks for you,” he said. “It will speed up what you’re already doing, but you need that foundation there of what you’re looking for and what makes compelling value.”“If you have an investment thesis on a stock, it’s actually useful to put it into ChatGPT and ask for a critique, or ask it to name the risks, or write a compelling argument against the stock,” Mr Rice said.
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