Proper Generative AI Prompting for Financial Analysis
28 Pages Posted: 23 May 2023 Last revised: 27 Oct 2023
Date Written: May 20, 2023
Abstract
Generative artificial intelligence (AI) is revolutionizing financial analysis by efficiently processing vast amounts of data to extract valuable information. Properly leveraging prompts is crucial for accurate and insightful results. This article presents a comprehensive guide to prompt usage in generative AI for financial analysis. It emphasizes the significance of prompts, provides insights on writing effective prompts, and highlights common pitfalls to avoid. Mastering generative AI prompting enhances financial analysis and informs investment decisions, making professionals more sought after. The article explores AI chatbots like ChatGPT, Google Bard, and Bing AI, empowering analysts to optimize prompt generation and improve AI-generated responses. Crafting clear, tailored prompts is vital for accurate and actionable insights. Best practices include treating chatbots as intelligent entities, incorporating context awareness, personalizing prompts, defining roles and styles, and using appropriate formats and phrasing. Poor and effective prompt examples demonstrate the importance of specificity and prompt templates offer a structured approach tailored to financial investment analysis. Enhancing prompt quality through context and control techniques leads to precise AI-generated responses. Mastering generative AI prompting is a necessary skill that unlocks AI's true potential in financial analysis, facilitating accurate and insightful decision-making.
Keywords: artificial intelligence, investment analysis, prompting, generative AI models, financial analysis, impact of technology on financial markets
JEL Classification: C53, G11, G12, G17
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