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Author: Kausik Lakkaraju, Sai Krishna Revanth Vuruma, Vishal Pallagani, Bharath Muppasani, Biplav Srivastava
Publisher: arxiv
Year: 2023
Summary: This piece, by professors and doctoral students from the University of South Carolina, discusses whether AI can adequately serve as a financial advisor. The authors found that both Bard and GPT had large error rates across a number of different categories. I was surprised that the authors could not have foreseen these results, given that LLMs typically do not do well with critical thinking. I also found it interesting that there was no discussion of the ethical repercussions of what happens if an AI gives you wrong or even illegal advice. As LLMs, in their current state, have several issues that prevent them from being adequate financial advisors, I believe any bank that has clients using them as advisors would need a solid legal team.