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Tag: 2023

How accurate is ChatGPT at predicting the stock market?

4 mins read
3 May 2023

Introduction:

In a groundbreaking development this month, two studies showcased the prowess of Artificial Intelligence (AI) in the stock market. These studies utilised ChatGPT, an AI-powered chatbot, to perform tasks such as deciphering the sentiment of Federal Reserve remarks and determining whether stock-related news stories were favourable or unfavourable.

The successful completion of these tests indicates a potentially significant advancement in using technology to transform vast amounts of textual information into valuable trading signals.

This article explores the implications of this breakthrough and delves into the pros and cons of AI in stock market predictions.

How does AI make predictions?

Both studies leveraged ChatGPT, an AI model developed by OpenAI, to process and analyse various market-related texts, ranging from news articles to tweets and speeches. The chatbot demonstrated remarkable abilities in determining whether Federal Reserve remarks were hawkish or dovish, as well as identifying the sentiment behind stock-related news stories.

While similar language models have been utilised by quantitative analysts (quants) on Wall Street, the results indicate that OpenAI’s technology has achieved a new level of context and nuance processing.

Pros of AI in Stock Market Predictions:

  1. Enhanced Data Processing: AI algorithms, like ChatGPT, possess the capability to process vast amounts of textual data rapidly. This enables traders to analyse and interpret market-related information more efficiently, potentially uncovering hidden patterns and insights.
  2. Contextual Understanding: AI models, with their ability to comprehend context and nuance, can offer a deeper understanding of market sentiments. By analysing the sentiment behind news articles, speeches, and social media posts, AI can provide traders with valuable insights into market trends and investor sentiment.
  3. Objective Decision Making: AI-driven predictions can reduce human biases and emotions that often influence trading decisions. By relying on data-driven analysis, AI can provide more objective recommendations, potentially leading to more informed and disciplined trading strategies.

Cons of AI in Stock Market Predictions:

  1. Data Limitations: While AI algorithms excel at processing large volumes of data, they heavily rely on the quality and relevance of the data provided. Inaccurate or biased data can lead to flawed predictions.
  2. Black Box Nature: AI models, especially deep learning algorithms, often operate as “black boxes,” making it challenging to explain the reasoning behind their predictions. This lack of interpretability may raise concerns among traders and regulators who require transparency in decision-making processes.
  3. Risk of Overreliance: Depending solely on AI predictions without considering other fundamental and technical indicators can be risky. Market dynamics are complex and influenced by multiple factors, including economic conditions, geopolitical events, and investor behaviour. AI should be viewed as a tool that complements traders’ expertise rather than a substitute for thorough analysis.

Can AI Help Traders?

The use of AI, such as ChatGPT, in stock market predictions holds great potential. By leveraging advanced natural language processing and machine learning techniques, AI can augment traders’ decision-making processes.

However, it is important to recognise that AI is not foolproof and should be used as part of a comprehensive trading strategy. Human intuition, domain expertise, and critical thinking remain invaluable assets in the dynamic and ever-evolving world of finance.

Stoxbox doesn’t use AI. It is backed by strong fundamentals and experts’ research that can be relied upon. Check out the Pro Tips and Mentor Box section to get inputs on when to buy, hold and sell.

AI should be balanced with human judgement and a comprehensive understanding of market dynamics.

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Meta’s planning for a smaller workforce??

2 mins read
12 March 2023

Thousands of employees may be impacted by Meta’s upcoming round of layoffs, according to a Monday night Bloomberg News article.

The job losses, which might begin this week, would add to the 13% of Meta employees who had already lost their jobs as a result of a significant cost-cutting initiative launched in November.

The CEO of Meta, Mark Zuckerberg, had stated that this year would be focused on initiatives aimed at reducing the company’s expenditures, promoting 2023 as the “Year of Efficiency.” In February, he informed analysts that Meta would be concentrating on “reducing initiatives that aren’t performing or might not be necessary” and that it intended to “remove layers of middle management to make choices faster.”

The consumer technology company’s cost-cutting initiatives come at a difficult time, as it reported that during the fourth quarter, costs and expenses increased 22% year over year to $25.8 billion, while overall sales decreased 4% to $32 billion.

Due to challenges in the digital advertising industry, the lasting repercussions of Apple’s 2021 iOS privacy update, and rising competition from ByteDance-owned TikTok, Meta’s main online advertising business continues to face obstacles.

The corporation is still making significant investments in the metaverse’s development, which Meta believes might be the emerging field of mainstream computing. A $4.28 billion operating loss was incurred during the fourth quarter by the company’s Reality Labs division, which is in charge of developing the virtual reality and augmented reality systems required for the metaverse.

While stating that he regards layoffs “as a last resort,” Zuckerberg has stated that he will “take ownership” for the company’s previously disclosed cost-cutting efforts.

Zuckerberg stated last fall when Meta announced layoffs, “We’re restructuring teams to boost our efficiency. Yet these steps won’t be enough to bring our spending into line with our income growth, so I’ve also had to make the difficult choice to let employees go.

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An Unexpected Collab!!

2 mins read
12 March 2023

Apple Watch users may now utilize the specific WatchGPT app to access ChatGPT, the acclaimed OpenAI, AI-powered chatbot. Users can communicate with ChatGPT directly from their watch screen by downloading the $3.99 (about Rs.328) app from the App Store. Also, users can share their WatchGPT comments using the app immediately from their Apple Watch via texts, emails, and social media. The description of the software on the App Store emphasizes how simple it is to use and how well it works with Apple Watch. Users may now chat with ChatGPT whenever they want, wherever they are, by simply tapping their wrist with WatchGPT.

The creator of WatchGPT, Hidde van der Ploeg, announced on Twitter that the software is now accessible on the App Store, including in India. From their watch screen, users may utilize the app to communicate with ChatGPT and share their responses via SMS, email, and social media. Nevertheless, it requires iOS 13.0 or later-running smartphones, and the download size is 2.6MB.

Users of Apple Watch can now receive longer produced messages in addition to fast responses without having to type anything. The Apple App Store offers the WatchGPT app for download in English, Dutch, French, and Spanish.

Also, the developer of WatchGPT has disclosed planned enhancements to the application, such as the choice to utilize a personal API key, access history, and the standard capability to adhere to vocal input. To improve the user experience, the app will also enable responses to be read aloud by the app itself.

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An Unexpected Collab!!

2 mins read
12 March 2023

Apple Watch users may now utilize the specific WatchGPT app to access ChatGPT, the acclaimed OpenAI, AI-powered chatbot. Users can communicate with ChatGPT directly from their watch screen by downloading the $3.99 (about Rs.328) app from the App Store. Also, users can share their WatchGPT comments using the app immediately from their Apple Watch via texts, emails, and social media. The description of the software on the App Store emphasizes how simple it is to use and how well it works with Apple Watch. Users may now chat with ChatGPT whenever they want, wherever they are, by simply tapping their wrist with WatchGPT.

The creator of WatchGPT, Hidde van der Ploeg, announced on Twitter that the software is now accessible on the App Store, including in India. From their watch screen, users may utilize the app to communicate with ChatGPT and share their responses via SMS, email, and social media. Nevertheless, it requires iOS 13.0 or later-running smartphones, and the download size is 2.6MB.

Users of Apple Watch can now receive longer produced messages in addition to fast responses without having to type anything. The Apple App Store offers the WatchGPT app for download in English, Dutch, French, and Spanish.

Also, the developer of WatchGPT has disclosed planned enhancements to the application, such as the choice to utilize a personal API key, access history, and the standard capability to adhere to vocal input. To improve the user experience, the app will also enable responses to be read aloud by the app itself.

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The future is knocking. Are you ready to talk about 6G?

2 mins read
9 March 2023

During a panel on the future of 6G at Mobile World Congress, experts from organizations like Telefonica, Samsung, and the European Space Agency gathered to share their predictions for the technology.

It would be better to keep your emotions in check for the time being. This is because predictions indicate that people like you and I won’t start getting 6G into our hot, tiny palms until sometime after 2030.

On the panel were Nicolas Kourtellis (principal research scientist, co-director, Telefónica Research), Yue Wang (head of 6G Research, Samsung Research UK), Xavier Lobao (head of Future Telecom Projects Division, European Space Agency), and Kimberley Trommler (head of Thinknet 6G, Bayern Innovativ GmbH).

Presumably this would mean 6G might be deployable in a significantly larger array of circumstances than 5G, including as I0T devices.

As opposed to what I had anticipated, this was imagined in terms of the seamless connectivity that would result from the merger of terrestrial and extraterrestrial (space-based) networks.

Moreover, 6G promises increased network resilience.

On 6G networks, “digital replicas” and “kinetic content” will be much more accessible, and so will “AI-generated material.” Hence, for example, utilizing holographic patients to instruct medical students would allow them to make as many mistakes as necessary without risk.

For instance, “privacy-preserving federated learning” might reduce the risk of cyberattacks on neural networks.

It appears that moving from 5G to 6G will be much simpler than moving from 3G to 4G. The hard work has already been done to a large extent, and the networks at least seem prepared for this bright new world.

 
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Floating solar panels?

2 mins read
9 March 2023

The shift towards renewable energy has resulted in solar power becoming a leading source of clean energy. However, with limited land availability for solar panel fields, engineers have turned towards water as a solution. This has given rise to the concept of floating solar panel fields that are becoming increasingly popular due to the benefits they offer over traditional solar panels on land.

Floating solar panel fields are essentially solar panels placed on a platform that floats on the surface of water bodies such as lakes or reservoirs. These platforms are anchored to the bottom of the water body, and the solar panels are installed on top. The benefits of floating solar panels are numerous. Firstly, they take up less space than traditional solar panel fields, making them ideal for areas with limited land. Secondly, the water cools the solar panels, making them more efficient and able to generate more energy. Floating solar panels have a lower environmental impact as they require less land and can reduce evaporation and algae growth in water bodies.
Additionally, floating solar panels are designed to track the sun by using a computer system that follows the sun’s movement, maximizing their efficiency.

However, floating solar panels have some drawbacks. They require access to water and can be difficult to install. Nevertheless, as the technology continues to evolve, floating solar panels are becoming increasingly efficient and cost-effective. The demand for this technology is likely to increase, driving further innovation and improvements.

In conclusion, floating solar panel fields are the future of renewable energy as they offer many benefits over traditional solar panels on land. By investing in this technology, we can reduce our reliance on fossil fuels and move towards a cleaner, more sustainable future.

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ChatGPT to be beaten by Google’s AI model

2 mins read
9 March 2023

Google is making progress in developing an artificial intelligence (AI) model that can support the world’s most commonly 1000 spoken languages. The Universal Speech Model (USM) is a family of speech models that includes two billion parameters that have been trained on 12 million hours of speech and 28 billion sentences of text. The model is already being used in Google’s products, such as YouTube.

Google used a self-supervised learning approach that leveraged audio-only data, which was available in large quantities across languages, making it easier to scale. After self-supervised learning on audio, Google put the model through a second step where its quality and coverage were improved using text data, and then fine-tuned it using downstream tasks such as automatic speech recognition (ASR).

Google found that the model’s word error rate (WER) was less than 30 percent across 73 languages, an achievement for the company. For commonly used languages like U.S. English, the relative rate was six percent lower than the state-of-the-art internal model the company used. Comparisons with other publicly available datasets also showed that USM performs better at ASR and speech translation tasks.

The company is now working on using the model architecture and training pipeline to build its 1,000 language model. This development is part of Google’s push to incorporate AI into its products, which will be showcased at its annual I/O event. This year, the event is expected to feature over 20 products powered by AI. As Google competes with Microsoft for AI-powered products, this boost is much needed.

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The future is knocking. Are you ready to talk about 6G?

2 mins read
9 March 2023

During a panel on the future of 6G at Mobile World Congress, experts from organizations like Telefonica, Samsung, and the European Space Agency gathered to share their predictions for the technology.

It would be better to keep your emotions in check for the time being. This is because predictions indicate that people like you and I won’t start getting 6G into our hot, tiny palms until sometime after 2030.

On the panel were Nicolas Kourtellis (principal research scientist, co-director, Telefónica Research), Yue Wang (head of 6G Research, Samsung Research UK), Xavier Lobao (head of Future Telecom Projects Division, European Space Agency), and Kimberley Trommler (head of Thinknet 6G, Bayern Innovativ GmbH).

Presumably this would mean 6G might be deployable in a significantly larger array of circumstances than 5G, including as I0T devices.

As opposed to what I had anticipated, this was imagined in terms of the seamless connectivity that would result from the merger of terrestrial and extraterrestrial (space-based) networks.

Moreover, 6G promises increased network resilience.

On 6G networks, “digital replicas” and “kinetic content” will be much more accessible, and so will “AI-generated material.” Hence, for example, utilizing holographic patients to instruct medical students would allow them to make as many mistakes as necessary without risk.

For instance, “privacy-preserving federated learning” might reduce the risk of cyberattacks on neural networks.

It appears that moving from 5G to 6G will be much simpler than moving from 3G to 4G. The hard work has already been done to a large extent, and the networks at least seem prepared for this bright new world.

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