Since ChatGPT is so smart to understand language, ai should be able to understand quotes. Any company there successfully accomplishes it? Then we who study stocks old fashioned way will be left jobless
Danny Devito had a computer named Carmen that told him which stocks to buy. He was doing it in the 1980s.
ChatGPT is as good as the data it's trained on, i.e. information found online (web, Reddit, Twitter, ...). ChatGPT would likely not be great as a trader without additional training / hand-holding.
Yes there are. But you need to define what is successful. Because there are many much more superior strategies here which still cannot be uncovered from AI because the data is too big too handle efficiently. It is like always still garbage in garbage out. You do not get worldclass trading strategies from an AI still. There is still a significant input to be made from humans/traders. So if you do not understand the markets and do not know what you are doing, AI does not help too.
Lot's, Blackrock's Aladdin arguably the largest. Learning prompt engineering would as least get one started on the path. From there, an understanding of how these LLMs function and their possibilities/limitations. Eventually one starts to gravitate toward building their own models to finetune.
AFAIK all of the scale Vol. Shops utilize AI for data harvesting. International shops seem to have been early adopters.
I know all big shops may have ai groups. I am interested in those startups focusing on ai trading. History has said those breakthroughs usually came from small startups instead of established firms