Can Google's Bard AI be used for trading?
After such artificial intelligence as ChatGPT appeared, many began to consider AI as an assistant in stock trading.
But during testing, it turned out that all the data in ChatGPT dates back to 2021 and it does not have up-to-date information, that is, when asked what the euro exchange rate is today, the AI will provide information for 2021.
Therefore, this AI can only be used to search for information on the loaded 2021 database; it cannot be asked to predict exchange rates or recommend promising securities.
But ChatGPT today is no longer the only such artificial intelligence.
Not long ago, Google premiered Bard, which is a large language model created by Google AI to solve a wide range of problems.
I would like to note right away that Bard is not yet available in all countries, so in some cases you will have to use a VPN server to work with it. But the AI supports communication in Russian.
Testing Bard from Google for stock trading
Let's try to ask Bard a few questions regarding stock trading, and let's start with the simplest ones:
What is the euro to US dollar exchange rate as of July 20, 2023?
Answer: As of July 20, 2023, the euro to US dollar exchange rate is 1.12 USD/EUR.
Let's check the real exchange rate for today:
As we can see, the AI gave the correct answer, that is, we can say that it has a connection with reality. And the Bard himself says that he uses the Internet to find answers to some questions. But let's try to ask something more complicated.
What will be the exchange rate for the eurusd currency pair on September 1, 2023?
And in response we get:
“I cannot give you an accurate forecast for the exchange rate of the EUR/USD currency pair on September 1, 2023. However, I can share with you some factors that may affect the pair's price in the future.
Fundamental factors that may affect the EUR/USD rate include:
- State of the US and Eurozone economies
- Dynamics of interest rates in the US and the eurozone
- Political events in the USA and the eurozone
- Geopolitical events
Technical factors that may affect the EUR/USD rate include:
- State of the pair's technical chart
- Dynamics of supply and demand in the market
- Positions of major players in the market
I recommend that you do your own market analysis and decide whether you should buy or sell EUR/USD.”
That is, the AI does not want to give an exact answer to a specific question, but you can try asking it differently.
Name the most undervalued company shares on the American stock market?
Answer: Here is a list of the 10 most undervalued stocks in the American stock market:
Alphabet (GOOGL): Alphabet is a global technology company that owns well-known brands such as Google, YouTube and Android. The company has a strong position in the advertising market and continues to expand its business into new areas such as artificial intelligence and cloud computing.
Amazon (AMZN): Amazon is the world's largest online retailing and cloud computing company. The company has a huge customer base and continues to grow at a high rate.
Apple (AAPL): Apple is one of the most famous and successful companies in the world. The company produces smartphones, tablets, laptops, computers and other electronic devices. Apple also has a strong brand and a large customer base.
Microsoft (MSFT): Microsoft is one of the world's largest software companies. The company produces operating systems, office suites, server programs and other software products. Microsoft also has a strong brand and a large customer base.
Tesla (TSLA): Tesla is an American company that produces electric vehicles. The company is a leader in the electric vehicle market and continues to grow at a rapid pace.
Visa (V): Visa is the world's largest payment system. The company processes more than 200 billion transactions per year. Visa has a strong market position and continues to expand its presence in new countries.
Mastercard (MA): Mastercard is the world's second largest payment system. The company processes more than 150 billion transactions per year. Mastercard has a strong market position and continues to expand its presence in new countries.
PayPal (PYPL): PayPal is an American company that provides online payment services. The company is a leader in the online payments market and continues to grow at a rapid pace.
Block (SQ): Block is an American company that provides online payment and financial services. The company is a leader in the online payments market and continues to grow at a rapid pace.
These are just a few examples of undervalued stocks in the American stock market. Before purchasing a stock, it is important to do your own research and make sure you understand the risks and potential rewards of investing.
The answer is more specific, but it seems that Bard simply listed the most popular American companies and you shouldn’t really trust his opinion.
Let's try to change the focus of the questions.
What are the minimum and maximum prices for gold over the past 5 years?
Answer: The minimum price for gold over the past 5 years was $1,067 per ounce in August 2015. The highest gold price over the past 5 years was $2,070 per ounce in August 2020.
We get a specific answer to the question posed, check the information provided:
Again, almost 100% accurate answer.
That is, we can say that Bard from Google perfectly finds the necessary information on the Internet, at the same time, it cannot yet analyze and make forecasts on stock exchange rates.
Therefore, there is no point in asking him questions regarding what the price on the stock exchange will be for this or that asset.