We test the chatbot to evaluate its capabilities and potential benefits for portfolios.
is more than a glorified search engine. It may pose a threat to the dominance of Google, but let’s not get ahead of ourselves.
ChatGPT can explain complex financial issues in succinct, plain English. When prompted, it immediately re-wrote the same answersThe next question was how much tax is payable if you earn $250,000 a year with $40,000 tax deductions and should you make concessional super contributions. Next were investments. ChatGPT refused to answer the question “Give me a list of the top 20 Australian exchange-traded funds and links to their website”. It replied it was a language model that did not have the capability to access the internet or current financial information.
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