Artificial Intelligence(AI) has been improving technology, and ChatGPT has been helping people to be able to work efficiently and diligently.
Recently NewsBTC conducted an experiment, in which it gave AI tool ChatGPT $20,000 to invest in crypto and stocks.
NewsBTC made a profit of $1.946 after following ChatGPT’s advice for a month with crypto investments making 130% more than stocks and Rivian and Solana having the highest return on investment (ROI).
According to the experience, Crypto investments earned $1,359 and stocks returned $587.
NewsBTC business consultant Jonathan Millet said that he was “fully aware of Solana’s strong community backing and widespread trust in its stability.” He went on to say that he did not anticipate that the Solana’s increased profit will be higher than of Bitcoin’s.
Millet said that he was surprised most by Meta not being suggested by ChatGPT.
“It was released at the perfect time(Threads), after news that Twitter was limiting the number of Tweets its users could see. This isn’t one of the stocks ChatGPT suggested investing in, despite Threads’ rapid user growth and positive impact on Meta’s stock price. Had ChatGPT recommended investing $1,000 in Meta, this value would have risen to $1,100 by the study’s close — a greater ROI than Apple or Amazon,” Millet said.
“ChatGPT isn’t going to make you rich by picking stocks. ChatGPT might be useful for summarizing evergreen investing techniques or the different styles of investments,” said Todd Stearn, founder and CEO of The Money Manual. “Let’s use common sense. Do you really think a free tool, or even the $ 20-a-month version, is going to do all the work for you to make you wealthy? ChatGPT is a tool. Get skilled using it. But it’s still up to you to make the right financial decisions.”
According to GOBankingRates.com, “for cryptocurrency, NewsBTC said ChatGPT offered an initial list of coins, and when asked how much to invest in each it gave a general strategy for investing in cryptocurrency. According to ChatGPT, 40%-50% should be invested in Bitcoin and Ethereum combined, and 10%-20% invested in other prominent coins.”
NewsBTC put 20% into Bitcoin, 20% into Ethereum and 10% into the remaining coins (including Ripple, Cardano and others).
“Alongside providing often unreliable advice, a lack of real-time data visibility is one of the biggest flaws in relying on AI models like ChatGPT for investment guidance,” NewsBTC concluded.
