section_path: Applications/Financial markets
section_name: Financial markets
paragraph_text: Financial markets
  
  Many companies adopted ChatGPT and similar chat bot technologies into their product offers. These changes yielded significant increases in company valuations. Reuters attributed this surge to ChatGPT's role in turning AI into Wall Street 's buzzword. Due to a "ChatGPT effect", retail investors to drove up prices of AI-related cryptocurrency assets despite the broader cryptocurrency market being in a bear market, and diminished institutional investor interest.
  
  An experiment by finder.com conducted from March to April 2023 revealed that ChatGPT could outperform popular fund managers by picking stocks based on criteria such as growth history and debt levels, resulting in a 4.9% increase in a hypothetical account of 38 stocks, outperforming 10 benchmarked investment funds with an average loss of 0.8%. Despite decades of using AI, Wall Street professionals report that consistently beating the market with AI, including recent large language models, is challenging due to limited and noisy financial data.