ChatGPT unleashed a firestorm of interest in artificial intelligence investing, but traders should take some caution.
. It's expensive Users may find ChatGPT's human-like responses to prompts for poems written in the style of William Shakespeare impressive, but the computing power required for those responses would make generative AI hard to profit from for many companies. Take ChatGPT's cost per query, which Morgan Stanley's Brian Nowak last month estimated would amount to 2 cents on average — or anywhere from $0.004 or $0.044 depending on the size or complexity of the query and response.
"But outside of Microsoft, I question how many companies have the technology and the resources and the profitability to make money," Tschosik added. The perils of AI gaffes Meanwhile, there are other challenges. Since generative AI is only considered as good as the large sets of data it's trained on, there could be limits to the accuracy of its responses.
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