Investment research is a vast field, and the use of ChatGPT-like models has changed the way analysts and advisors are working. The incorporation of new AI capabilities, powered by these language models, has given rise to new trends and use cases. Let's look at some of the latest trends and use cases in investment research:
Bloomberg, Microsoft, AWS
Bloomberg, a leading provider of financial data and analytics, has developed BloombergGPT, a new large-scale generative AI model. This model is trained on various financial data, which assists Bloomberg in improving existing NLP tasks like sentiment analysis, named entity recognition, news classification, and question answering. BloombergGPT has the potential to develop new customized financial applications, which can help Bloomberg Terminal's B2B clients.
Microsoft has incorporated Copilot, a ChatGPT-like model, into Excel, which is a significant achievement for integrating the model into existing ecosystem apps. AWS is also proposing the fine-tuning of GPT-J 6B language models for financial text generation.
Fintech startups
Many fintech startups are using ChatGPT in innovative ways. Alphasense, a B2B market intelligence company, has raised $100 million in Series D funding, and they are planning to deploy new AI capabilities by integrating advanced LLMs. Magnifi, a fintech that offers investment search assistance for DIY investors or financial advisors, is using ChatGPT to power their Magnifi Personal Account subscription. Portrait Analytics, a Boston-based company, has developed a generative AI research platform for investment analysts.
These trends and use cases demonstrate the potential of ChatGPT-like models in empowering the investment research industry. While there may be factual errors at this stage, ChatGPT can be used in domains where analysts have some knowledge, so they can exercise their judgment and ask for sources or double-check elsewhere.
