Before using AI investing tools, watch out for these costly pitfalls

“How has Microsoft stock performed since Satya Nadella took over as CEO?”

That’s the kind of question that generative artificial intelligence (AI) can excel at, say experts. AI can save human investors significant time in looking up the facts – “When did Nadella take the helm?” and “How has the stock moved since then?” – and then making the calculations. AI can then produce a report in natural language that’s easily accessible to readers.

Investors may already be open to AI, despite some potential drawbacks. Of investors using social media and online platforms for advice, 85 percent used generative AI advice when adjusting their portfolio, according to a TD Wealth survey of 500 high-net-worth and mass affluent individuals. But a report from the CFP Board suggests that just 31 percent of investors feel comfortable actually implementing generative AI advice without first verifying it elsewhere.

Read more here: https://www.bankrate.com/investing/how-ai-changing-investing-what-to-look-for/