> I've been working on a system to extract certain financial "facts" across SEC filings. ChatGPT has not been helpful at all
The other day, I saw a demo from a startup (don't remember their name) that uses generative AI to perform financial analysis. The demo showed their AI-powered app basically performing a Google search for some companies, loosely interpreting those Google Stock Market Widgets that are presented in such searches, and then fetching recent news and summarizing them with AI, trying to extract some macro trends.
People were all hyped up about it, saying it will replace financial analysts in no time. From my point of view, that demo is orders of magnitude below the capacity of a single intern who receives the same task.
In short, I have the same perception as you. People are throwing generative AI into everything they can with high expectations, without doing any kind of basic homework to understand its strengths and weaknesses.
The other day, I saw a demo from a startup (don't remember their name) that uses generative AI to perform financial analysis. The demo showed their AI-powered app basically performing a Google search for some companies, loosely interpreting those Google Stock Market Widgets that are presented in such searches, and then fetching recent news and summarizing them with AI, trying to extract some macro trends.
People were all hyped up about it, saying it will replace financial analysts in no time. From my point of view, that demo is orders of magnitude below the capacity of a single intern who receives the same task.
In short, I have the same perception as you. People are throwing generative AI into everything they can with high expectations, without doing any kind of basic homework to understand its strengths and weaknesses.