News Summary

AI chatbots like ChatGPT are increasingly being used by retail investors for stock-picking advice. According to a survey by trading platform eToro, about 13% of investors worldwide use AI tools for stock selection. ChatGPT is being used as an advisory tool, replacing some traditional human expertise in investment decisions. This trend is seen as democratizing investment analysis by providing access to tools previously available only to institutional investors. However, experts warn about the risks of relying on AI for financial advice, as these models may lack access to real-time data and can misinterpret financial information.