Gunjan Banerji

The best thing to do is was wait it out and don't do anything.

And so how did it perform in picking other types of assets?

I will say when I first gave it a big picture overview of me as an investor, my risk tolerance and what I hoped it would achieve, it spat out a broad portfolio of index funds that was pretty diversified.

And two financial advisors I spoke with said, hey, this does get a passing grade.

You know, this isn't exactly what I would say to investors, but this is not a bad starting framework in terms of a broad portfolio of diversified index funds.

And what are your takeaways on how chatbots then can be best used to sort of augment investment research?

Maybe not in the final decision making, but in actually sort of giving you another tool in your arsenal, let's say, if you're researching certain investments.

I think that's exactly the way to view it, is view it as a tool in your arsenal.

I chatted with Andrew Lowe, a professor of finance at the Massachusetts Institute of Technology, and he is really bullish on artificial intelligence and the model's ability to give us investment advice in the future.

He even said that one day he thinks these models could serve as fiduciaries.

And that's really important, right?

Because fiduciaries can face legal or monetary consequences if they mislead you or if they give you bad advice.

He had a really good tidbit of advice for me, though, and that was to use AI with a grain of salt.

And what are you hearing about how people are actually relying on AI then in their decision making?

Look, roughly 30% of individual investors surveyed by the brokerage eToro recently said that they were using AI for their portfolios.

This is happening.

People are turning to AI for stock advice, for investment advice, and I think it's only going to keep growing.

Even after this article was published, I heard from a lot of individual investors who shared how they're using AI in their investment process right now.

Okay, so people are using it now.

What are the pitfalls to be aware of?