According to a recent survey, a significant 65 percent of investors are said to be using Artificial Intelligence (AI) to assist them in the decision-making process.
The survey questioned 938 US investors to determine the degree of use of artificial intelligence investment tools. conducted by investment.comThe results include the following answers:
- 24% say they use AI tools regularly
- 27% say they use them occasionally
- 11% say they’ve tried them once or twice
- 21% say they haven’t used AI yet but are considering using it
- 17% say they don’t plan to use AI tools for investing at all
- 17% say their performance has improved significantly
- 48% of those who say they have improved somewhat
- 62% of survey respondents say they use AI to research stocks or other assets
- 35% use AI to better understand financial news and market developments
- 34% use AI to generate investment or trading ideas
- 22% use AI to help with portfolio decisions
ChatGPT is said to be the most common way AI is used by 54% for investment decisions.
On the other hand, 39% worry that AI tools might get it wrong, and 24% fear “market driving.”
Investing.com senior analyst Thomas Monteiro said companies are offering all kinds of vehicles at much lower prices than they were just a few years ago.
“Broad access to complex financial models is quickly leveling the playing field,” Monteiro said.
We are still in the early stages for financial analysis and artificial intelligence applications. Still, it’s pretty simple to load annual reports and ask the AI application what changes have occurred, or ask the AI to provide a summary of analyst reports and competitive potential.
It wasn’t that long ago that you spent time in the library or reading the newspaper to learn about securities, so AI and analytics are actually part of the natural progression. And ultimately investors must make their own decisions.
