Leveraging ChatGPT for enhanced trading strategies
Recently stock trading has been going through a major change in technology. The industry had been dominated by human brokers and personal relationships on stock exchange trading floors. Now the advent of high-speed internet, advanced computing, and artificial intelligence (AI) has revolutionised this industry.
ChatGPT’s Role in Trading – Market Analysis:
For example, ChatGPT, an AI language model developed by OpenAI, has emerged as a major player. Its ability to process vast amounts of data has made it a valuable tool for traders seeking to gain an advantage.
One of ChatGPT’s relevant applications in stock trading is market analysis. Clever large language models (LLMs), powered by advanced machine learning (ML) algorithms and trained on an enormous number of parameters, can analyse and learn from the vast amounts of data they are fed, for example, from news articles and social media posts. They are then able to generate original sentiment analysis, as it’s known, which can help to gauge the mood of the market, whether it’s bullish or bearish.
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