Get Smart: 3 Ways ChatGPT Could Change How You Invest
ChatGPT, an AI chatbot created by OpenAI and partnered exclusively with Microsoft, has taken the world by storm with over 100 million users within two months of its launch. But how could this trend benefit businesses and, in turn, affect investors' portfolios? Here are three ways ChatGPT could change how you invest:
1. Enhancing Microsoft's Search Engine Bing
Microsoft and OpenAI extended their agreement earlier this year, with ChatGPT expected to enhance Microsoft's search engine Bing. Users of Bing's search engine and chat feature surpassed 100 million daily active users within the first month after its launch, and Microsoft expects to have an AI-copilot for everything. The company aims to have a co-pilot for Microsoft products such as Outlook and Word to help users draft content and spark ideas.
2. Repetitive Tasks and Conversation
Buzzfeed has taken advantage of ChatGPT's ability to converse by creating quizzes that allow readers to interact with the media firm and have customized text replies generated. ChatGPT is well-suited for repetitive tasks that do not require a high degree of fact-based research.
3. OpenAI Plugins
In late March, OpenAI introduced plugins, allowing other businesses to develop new use cases based on its GPT models. Major firms, such as Booking Holding's KAYAK and OpenTable, and Shopify have already taken advantage of the new service.
It's important to ground our thinking with actual business benefits and not get carried away by the excitement of technological advancements. As investors, we should focus on how this trend will benefit businesses and, in turn, our portfolios. If you're interested in leveraging AI in your investment portfolio, download our urgent Special Free Report to find out which listed companies are actively using AI to power their businesses and what you can do to prepare for the AI boom. Stay ahead of the curve in this rapidly advancing field.
