ChatGPT and Generative AI: The New Barbarians at the Gate

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