Exploring the Role of Artificial Intelligence in Enhancing Academic Performance: A Case Study of ChatGPT

Abstract

This study aims to explore the potential of artificial intelligence, particularly natural language processing, in enhancing academic performance using economics and finance as an illustrative example. The study employs a case study approach, using ChatGPT as a specific example of an NLP tool that has the potential to advance research. Our analysis of ChatGPT's applications, capabilities, and limitations revealed that it has the potential to significantly enhance academic research in general and economics and finance in particular. ChatGPT and other AI tools can assist researchers in data analysis and interpretation, scenario generation, and communication of findings. However, there are several limitations to consider when using chatbots or similar tools in research, including generalizability, dependence on data quality and diversity, lack of domain expertise, limited ability to understand context, ethical considerations, and limited ability to generate original insights. It is therefore important to carefully consider these limitations when using ChatGPT and to use it in conjunction with human analysis and interpretation.

Keywords: Artificial intelligence (AI), Nature language processing (NLP), Chatgpt, Research, Academic performance, Economics, Finance, Case study, Ethics