Artificial intelligence, or AI, has become a hot buzzword over the past year or so. Its development has been praised by many — but also criticized by industry leaders and even Congress. The creation of OpenAI’s ChatGPT was ultimately the catalyst for the AI boom. However, there have been some shake-ups in the AI space as of late.
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Investor Place explained that the brief firing (and then rehiring) of OpenAI CEO Sam Altman was the result of a struggle between two sides. The “AI optimists” are those who want to move quickly because they believe that AI will usher in a new era of prosperity for all — and the “AI doomers” are those who believe artificial intelligence is progressing too fast and want to move more slowly with commercial development.
AI is still a new and unknown frontier, but it’s already changing the landscape of investing. There are several ways that AI is starting to change how you can calculate and forecast investments.
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3 Ways That AI Is Starting To Maximize Financial Returns.
Here are three ways you can use AI to your advantage when it comes to your finances, according to Due:
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Gain insights: AI can help you gain important insights into particular investments, so you can make an informed decision. AI can collect large amounts of information and break it all down so you can better understand. It can also scan backlogs of data surrounding the weight of the investment. These valuable insights inform investors of when and what to buy, from stocks to commodities — or whatever else.
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Investing in real estate: Investing in real estate, whether residential or commercial, has historically been a sound investment and a means of reliable income. But now, AI in real estate can be a valuable tool to help make sound decisions before you buy or sell. It’s forecasted that AI will revolutionize real estate by evaluating historical trends and predicting outcomes before you decide to buy or sell a property.
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Risk calculation: Risk is one of the most important factors to consider when it comes to investing. AI can help you calculate risk by providing a holistic view of the market’s history, trends, and potential volatility. Essentially, AI can serve as a sort of data analyst to determine market correlations before you decide to invest.
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This article originally appeared on GOBankingRates.com: AI Investing 2024: Key Trends and Critical Factors To Maximize Returns
