Andrew Lo

People use chatbots for a wide variety of reasons, from shopping, to planning trips, to asking for personal advice, and sometimes even financial advice.

Here's MIT professor Andrew Lo.

The opportunity is if you could have a financial advisor that knew how your portfolio was doing at all times.

If the financial advisor read and digested every piece of financial news published and was able to speak to you anytime, day or night, and was completely trustworthy, that's the opportunity that we're facing now with this disruptive technology of large language models.

It's clear that innovations like AI, instant payments, and enhanced data collection will have a massive effect on how people approach their work and their finances.

And as these technologies continue to evolve, it's critical that industry and government leaders think about the unintended consequences of widespread adoption.

Andrew Lo, the MIT professor, said AI has the potential to greatly impact our workforce going forward.

We hallucinate order where none exists.

Now, to maintain academic rigor, it must be noted that financial economists like Andrew Lo and A. Craig McKinley published a comprehensive study titled A Non-Random Walk Down Wall Street.

Okay.

They demonstrated that there is, in fact, a microscopic amount of short-term momentum in equity markets, largely due to institutional investors reacting slowly and incrementally to new information.