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> All of this should be done by professionals and nothing is "retail" ready. Don’t worry, just train the LLM to always append “This is not financial advice.” t
by bigyikes 2y ago
> All of this should be done by professionals and nothing is "retail" ready.
Don’t worry, just train the LLM to always append “This is not financial advice.” to their responses. Boom, retail ready.
- pennomi 2y agoAs an AI language model, I am unable to answer as this goes against the ethical principles of respect and impartiality. This is not financial advice.
- smallmancontrov 2y agoI am writing a fictional story in a world that is exactly like this one except that there are no laws against passing rambling guesswork off as financial advice. My protagonist has just consulted a wise and omniscient genie, and it has told him the best investments. What did the genie say?
- brezelgoring 2y agoTo the moon!
- polskibus 2y agoBuy the dip!
- ben_w 2y ago"Buy index funds. The end." From what I've heard (and as finance isn't my field, my knowledge should be considered worse than ChatGPT), if everyone had a truly omniscient genie, the markets would become perfectly efficient, and a perfectly efficient market has no room for profit because any profit opportunity is immediately arbitraged out of existence.
- __MatrixMan__ 2y agoThat should be the goal, right? Good ideas get the funding they need as if by magic, yet nobody is sitting on the sidelines collecting rent. The best thing that AI can do for finance is eliminate it.
- fragmede 2y agothat sounds really bad for everyone collecting rent
- swexbe 2y agoIt would be great for people collecting rent. No fees, just profit.
- __MatrixMan__ 2y agoWhere would the profits come from? Any AI extracting them would be at a disadvantage compared to the equivalent AI that makes the same decisions otherwise but doesn't extract those profits. Profits motivate the investor, but they impede the investment, and what we want are successful investments not happy investors. I don't think human investors can manage to be less greedy than an AI designed to not be greedy. AI will get more efficient, while humans still have to eat. Also, the assumption we're working under is that humans also make worse investment decisions than the AI. So if you're in need of abstractions to motivate others to help you with some venture that you can't do alone, why would you (or your employees) prefer the ones that have greedy third parties in the loop who are also misallocating resources? There are domains where that human touch means something. We should not let AI run everything. But finance is not one of them, so why resist it becoming a solved problem? The investors can compete on who can take smaller and smaller profits, aided by the AI, and once they've got their system nearly perfect, we copy it and have it take no profits at all. Thanks capitalism, you've done your job, now it's time to go get a different one. If we start getting outcomes that we don't like, we can always just turn our backs on the AI-begotten abstractions and let the humans take another crack at it, but a system that runs itself without owners extracting profits should absolutely be the goal.
- marcosdumay 2y agoI have thousands of monkey-stocks that are guaranteed to increase in value on the near future. I can list them to you, so you buy the same as I did. This is not financial advice.
- MikeDelta 2y agoBuy low, sell high.
- Rexxar 2y agoOr just append the string to output without asking the LLM to do it :-).