Is ChatGPT a Wealth Manager Killer? (5 min read)
An investment publication asked ChatGPT to create an ETF portfolio as a wealth manager to see how it would perform. Backdating the portfolio, it underperformed major US benchmarks, but did compared well against other funds from discretionary portfolio managers. However, there are still a few flaws to ChatGPT if it were to replace wealth managers. It relies on historical performance data, tends to select sub-optimal ETFs, and still requires human input to moderate suggestions.