Investors are increasingly looking to use ChatGPT in their work. Can AI replace traders?

The advent of artificial intelligence has revolutionized many areas of human activity; programs like ChatGPT successfully write texts, draw pictures, translate texts, and analyze finances.

This has left many professionals questioning their future, fearing that their jobs will eventually be taken over by artificial intelligence.

Could AI's influence extend to the world of stock trading? To explore this question, a survey of traders at one of the largest brokerage firms was conducted.

The study found that 40% of surveyed traders are already willing to use ChatGPT to generate analytical forecasts or develop trading strategies . Some investors are already using AI recommendations in their work.

What do investors expect from artificial intelligence?

Most of those surveyed want specific recommendations on buying securities, that is, for ChatGPT to tell them which stocks are worth buying now in the hopes of price growth.

Moreover, the level of trust in such recommendations depends on the age and gender of investors. Traditionally, younger investors under 45 trust AI more. Older investors and women are more skeptical and prefer to rely on their own judgment.

At the same time, both groups are confident in further growth in the value of securities of companies working on the creation of AI.

Will Chat GPT Take Traders' Jobs?

With the growing popularity of programs like ChatGPT, you're starting to wonder about the future of the trading profession. Will artificial intelligence eventually replace traders entirely?

In my opinion, the first to suffer will be the category of investment fund managers or PAMM accounts .

Why give away half your profits when you can pay once for an advanced robot that will replace your manager?.

Analytics specialists could also be left without work; AI is already quite good at analyzing data, and in some time it will completely surpass humans in this area.

Naturally, changes will affect trading using advisors, which will become more effective and less risky.

Even now, trading robots manage approximately 3 trillion US dollars, and this figure is projected to grow to 6 trillion US dollars by 2027, and this does not include the implementation of AI.

What should be done in this situation?

The best solution would be to start learning about trading using advisors; this will allow you to study the issue even before the advent of "smart trading robots.".

And as soon as these robots appear, you can start using them in your trading; I don’t think their operating algorithm will be very different from existing advisors .