ChatGPT can accurately parse Fed statements and anticipate stock moves from corporate news, studies say
OpenAI's ChatGPT has shown an ability to decipher the meaning behind Federal Reserve statements and also exhibited predictive stock market capabilities in response to headlines, according to separate studies.that ChatGPT can reason similarly to humans when decoding Fed speak.
Even without prior training, the AI outperformed BERT, another language model used in finance, and was closely aligned to the way four human reviewers categorized the sentences. Moreover, it was able to provide a reasonable justification for its choices: That way ChatGPT could be tested on how news would move a stock without having prior information on what actually happened. Results showed a strong correlation between ChatGPT's responses and stock market moves.
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