RE:Tech Giants ‘About To Get Dwarfed By Generative AI’:AnalystHere's the article about Cathy Wood:
EXCLUSIVE: Is Cathie Wood Using ChatGPT To Pick Stocks? by
Aj Fabino, Benzinga Staff Writer (September 7, 2023 12:19 PM | 2 min read)
Zinger Key Points - Cathie Wood says Ark Invest uses ChatGPT to fine-tune analyst communications, not for stock picks.
- ChatGPT's skill in clarifying "very difficult concepts" aids in Ark Invest's investor outreach, she says.
Most investors know that
Ark Invest founder
Cathie Wood's investment style is to consistently bet on disruptive innovation: sectors and companies that are in nascent phases but will become
headline grabbers in the wider tech world. She's proven herself multiple times, from her initial stake in
Nvidia Corp back in 2014 when shares were trading at the $5 level, or when she bought shares of
Tesla Inc in the fourth quarter of 2016, when its market cap was just $1.25 billion (it's at nearly $800 billion now). So with artificial intelligence becoming a household word in 2023 thanks to
OpenAI's advancements with its flagship large language model ChatGPT — it's safe to ask, how is Wood using the powerful tech? Is she using it to pick stocks?
No, she's not using it to pick stocks, (we did, though —
check this out), but she is using the platform.
Wood told Benzinga CEO
Jason Raznick in
an exclusive interview on "The Raz Report" the Ark Invest team is using ChatGPT. “Our analysts are now writing with [ChatGPT], saying something like, ‘please translate this into grammar and a writing style like Cathie Wood.’ It’s a bit of an exaggeration, but it’s working,” Wood said.
The real value of ChatGPT for Ark, according to Wood, is in its ability to “make very difficult concepts clearer.” It's not a trivial matter for an investment firm that has to convey complex investment theses to a varied audience that ranges from young, budding investors to well-seasoned market veterans.
Benzinga’s Take: Recalling our previous coverage on Wood’s nuanced approach to companies like Nvidia, it’s clear that clarity in messaging is part of Ark Invest’s DNA. Now, with ChatGPT, Wood has another tool in her arsenal to continue that level of cogent communication.
https://www.benzinga.com/news/large-cap/23/09/34326552/exclusive-is-cathie-wood-using-chatgpt-to-pick-stocks