Can Google's Bard AI be used for trading?
After the emergence of artificial intelligence such as ChatGPT, many began to consider AI as an assistant in stock trading.
However, testing revealed that all data in ChatGPT is from 2021, and it doesn't have up-to-date information. So, when asked what the euro exchange rate is today, the AI will only provide information for 2021.
Therefore, this AI can only be used to search for information in the downloaded 2021 database; it cannot be asked to forecast exchange rates or recommend promising securities.
But ChatGPT is no longer the only such artificial intelligence today.
Not long ago, Google premiered Bard, which is a large language model created by Google AI to solve a wide range of problems.
Since Bard appeared much later, one can only hope that he is free of the shortcomings inherent in his older brothers.
It's worth noting that Bard isn't currently available in all countries, so in some cases you'll need to use a VPN server to use it. However, the AI supports communication in Russian.
Testing Google's Bard for Stock Trading
Let's try asking Bard a few questions about stock trading, starting with the simplest ones:
What is the euro to US dollar exchange rate on July 20, 2023?
Answer: As of July 20, 2023, the euro to US dollar exchange rate is 1.12 USD/EUR.
Checking the real exchange rate for today:
As we can see, the AI gave the correct answer, meaning it can be said to be connected to reality. Bard himself says he uses the internet to find answers to certain questions. But let's try asking something more challenging.
What will be the EURUSD exchange rate on September 1, 2023?
And in response we get:
“I cannot give you an exact forecast for the EUR/USD exchange rate on September 1, 2023. However, I can share with you some factors that may influence the pair’s exchange rate in the future.
Fundamental factors that may influence the EUR/USD exchange rate include:
- The state of the US and Eurozone economies
- Interest rate dynamics in the US and the Eurozone
- Political developments in the US and the Eurozone
- Geopolitical events
Technical factors that may affect the EUR/USD exchange rate include:
- Technical chart status of the pair
- 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 a precise answer to a specific question, but you can try asking it differently.
Name the most undervalued stocks on the American stock market?
Answer: Here is a list of the 10 most undervalued stocks in the US 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 into new areas such as artificial intelligence and cloud computing.
Amazon (AMZN): Amazon is the world's largest internet company, selling goods and services, as well as providing cloud computing. The company has a massive customer base and continues to grow rapidly.
Apple (AAPL): Apple is one of the most well-known 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 software, 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 rapidly.
Visa (V): Visa is the world's largest payment system, processing over 200 billion transactions annually. 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, processing over 150 billion transactions annually. 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 rapidly.
Block (SQ): Block is an American company that provides online payments and financial services. The company is a leader in the online payments market and continues to grow rapidly.
These are just a few examples of undervalued stocks on the US stock market. Before buying stocks, it's important to conduct your own research and ensure 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 his opinion shouldn't be trusted too much.
Let's try to change the focus of the questions.
What is the minimum and maximum price of gold over the last 5 years?
Answer: The lowest gold price in the last 5 years was $1,067 per ounce in August 2015. The highest gold price in the last 5 years was $2,070 per ounce in August 2020.
We receive a specific answer to the question posed and verify the information provided:
Again, almost 100% accurate answer.
So, we can say that Google's Bard is great at finding the information you need on the internet, but it's not yet capable of analyzing and making forecasts for stock prices.
Therefore, there is no point in asking him questions about what the price of a particular asset will be on the stock exchange.
