ChatGPT Can Decode Fed Speak, Predict Stock Moves From Headlines
- First wave of research using AI chatbot in finance is arriving
- Fed staff find the tech can decipher dovish, hawkish language
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The first wave of academic research applying ChatGPT to the world of finance is arriving — and judging by early results, the hype of the past few months is justified.
Two new papers have been published this month that deployed the artificial intelligence chatbot in market-relevant tasks — one in deciphering whether Federal Reserve statements were hawkish or dovish, and one in determining whether headlines were good or bad for a stock.