Wall Street Traders May Be Replaced By AI If ChatGPT Keeps This Up

It's Wednesday, for those who have been following — you know what time it is.

We’re now in the tenth week of Benzinga’s six-month series, “Is ChatGPT A Better Financial Advisor?”

Whether you’re a seasoned follower of our experiment, or a newcomer just dipping your toes, get ready for the recap of the past week’s events.

Our AI-powered journey with OpenAI's ChatGPT, pitted against 10 of the leading U.S. equity funds, continues in its pursuit to answer: Is ChatGPT a better financial advisor?

For the uninitiated, we gave ChatGPT a hypothetical $10,000 to create an investment portfolio, with the challenge to beat several leading U.S. equity funds.

So, what’s the word for our AI-curated portfolio in the tenth week, and how did it hold up against well-known ETFs such as the SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust Series 1 QQQ?

Performance tracking began on May 10. Now, let’s dig into the details.

Fund/ETF	10-Week Performance
SPDR S&P 500	+10.38%
Invesco QQQ Trust	+19.11%
Schwab Total Stock Market Index Fund	+11%
Vanguard Growth Index Fund	+15.83%
Vanguard Value Index Fund	+5.09%
iShares MSCI EAFE ETF	+0.99%
Vanguard Total International Bond Index Fund	-0.11%
Fidelity Contrafund	+12.88%
T. Rowe Price Growth Stock Fund	+14.85%
Fidelity Total Market Index Fund	+11.02%

ChatGPT	10-Week Performance
Benzinga’s ChatGPT Portfolio	+11.35%

Ten weeks into our experiment, Benzinga’s ChatGPT Portfolio managed to edge slightly ahead of its previous week's performance, maintaining its competitive stance in the top five.

ChatGPT is, without a doubt, proving to be a genuine contender in the race.

Our portfolio’s crown jewel, Tesla Inc TSLA, continues its stellar run, up a whopping 76.86% since the hypothetical position was opened.

While the biggest laggard last week was Nike Inc NKE, it was overtaken by AT&T Inc T, as shares are down 12.52% since Benzinga took the position.

In line with our commitment, Benzinga is holding all positions for the full six-month duration of the series.

Interested in seeing the specific stocks inside Benzinga’s AI portfolio? Click here.
Check out last week’s results here.

It’s crucial to keep a long-term perspective as results are evaluated. Our experiment will run for six months, and as the saying goes, investing is a marathon, not a sprint. Regular fluctuations in the leaderboard are to be expected.

The aim of this series isn’t to present AI as a substitute for human financial advisors. Instead, Benzinga aims to highlight AI’s potential as a tool to aid investment decisions. While ChatGPT is an advanced AI, it lacks the ability to process real-time data or evaluate personal financial situations — but that may change soon.

And while ChatGPT isn’t a licensed financial advisor, this experiment contributes to the ongoing conversation about AI’s role in finance.

Join Benzinga next Wednesday for the next installment of the “Is ChatGPT A Better Financial Advisor?” series. Benzinga looks forward to seeing how the week unfolds for the AI-curated portfolio.

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