Artificial Intelligence—it's complex, can alter images and voices, and is changing the world.
Earlier this week, software company Global Predictions launched PortfolioPilot, a tool used to transform investing through the power of ChatGPT.
"Basically giving every single person this individual investment coach but powered using AI," said Global Predictions CEO, Alexander Harmsen.
According to Harmsen, PortfolioPilot is like having a personal copilot that guides you through the investing process. He also wants the platform to be what shapes the future of investing for individuals that won't have the knowledge that major financial experts have.
"The thing that we're doing that nobody else is doing is bringing hedge fund quality tools and models to the masses. To individual investors, individual people like you and I," said Harmsen.
The average wealth manager or advisor could have anywhere from 20 to 100 clients. He shared that the tool combines human interactions with latest technology, resulting in the best of both worlds for the consumer.
"There's 16 different news and financial news and stock that we use on the backend," Harmsen said.
PortfolioPilot's plug-in function can be used to pull information that—alongside ChatGPT—allows the portfolio to be accurate.
"Just type in a question and get an answer, we think it should be that easy to build a better portfolio," Harmsen explained.
In the next few years, he hopes PortfolioPilot will transform how people view AI tools like ChatGPT as a way to enhance current technology and ultimately to give more people a reason to explore what the financial world has to offer.