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[Exploring Business Ideas: ChatGPT ] Can ChatGPT be Financial Analysts?
Explore how AI, particularly GPT-4, is set to transform financial analysis and education, despite facing challenges with complex concepts.
https://arxiv.org/pdf/2310.08678.pdf
This detailed study evaluates the capabilities of large language models (LLMs) like ChatGPT and GPT-4 in the context of financial analysis, specifically through the lens of the Chartered Financial Analyst (CFA) Program’s mock exams. It examines their performance across different scenarios: Zero-Shot (ZS), Chain-of-Thought (CoT), and Few-Shot (FS), to understand how well these models could potentially serve as financial analysts.
The study highlights several key findings:
Performance across Levels:
Both ChatGPT and GPT-4 struggle more with Level II than Level I CFA mock exams. The complexity, length of prompts, and requirement for deeper financial understanding in Level II contribute to this difficulty.
