ChatGPT and Generative AI: The New Barbarians at the Gate

16 Pages Posted: 15 May 2023

Date Written: May 13, 2023

Abstract

The integration of artificial intelligence (AI) in financial analysis is transforming the industry, enabling advanced data analysis, risk assessment, portfolio management, and predictive modelling. This essay discusses the key themes of this incredible transformation by highlighting the benefits offered by AI, such as improved efficiency, accuracy, and the ability to process vast amounts of data. The implications for human analysts are explored, including concerns about job displacement and the potential devaluation of human judgment. The importance of synergistic collaboration between AI and human analysts is emphasized, with a focus on augmented intelligence. Key skills and competencies required for future financial analysts in an AI-driven environment are identified, along with strategies for embracing AI effectively. Ethical dilemmas and regulatory considerations associated with AI adoption in financial analysis are also addressed, emphasizing the need for responsible AI usage and human oversight in critical financial judgments.

Keywords: artificial intelligence, financial analysis, transformation, ethics

JEL Classification: C44, G00, G11, G32, A12

Suggested Citation

Krause, David, ChatGPT and Generative AI: The New Barbarians at the Gate (May 13, 2023). Available at SSRN: https://ssrn.com/abstract=4447526 or http://dx.doi.org/10.2139/ssrn.4447526

David Krause (Contact Author)

Marquette University ( email )

College of Business Administration
P.O. Box 1881
Milwaukee, WI 53201-1881
United States

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