Can ChatGPT replace financial advisers?

Have you tried ChatGPT yet?
There’s been a lot of talk lately about the chatbot developed by Open AI to generate human-like conversations with people on a range of topics – big or small.
There’s no doubt that many of you – like me – have already tried it and found that its potential is wide-ranging.
Over the past few years, low-cost investment robo-advisers have democratised investing for the masses by using AI to assess, for instance, a person’s risk levels.
This led me to start thinking about ChatGPT’s potential as a free financial adviser – what type of advice would it offer and could it replace the 20th-century concept of an expensive financial adviser that many people can’t afford?
Welcome to Pocketful of Dirrams – I’m Felicity Glover, the personal finance editor at The National. Joining me today is, Joseph El Am, general manager of digital wealth manager StashAway Mena, who’s here to talk about Chat G-P-T and financial planning.
 
Hosted by Felicity Glover
Produced by Arthur Eddyson and Doaa Farid