A startup called OpenAI launched ChatGPT, an AI chatbot platform, in November 2022. It can assist in breaking down complex reports and generating insights, but is best used as a supplement to personal analysis. Traders worldwide turned to ChatGPT for market predictions and investment strategies, despite its limitations in executing trades with perfect precision.

Nithin Kamath, Founder and CEO of Zerodha, India’s largest discount stock brokerage firm, reflected on the impact of AI on financial services. While ChatGPT can help traders with research and analysis, it should not replace professional counsel. Its limitations include reliance on historical data and an inability to handle unforeseen events, highlighting the importance of human oversight in financial decisions.

Read more at Yahoo Finance: How to trade crypto using ChatGPT