Experts address whether AI tools can predict the prices of investment instruments. The consultancy Capgemini emphasizes that AI would offer solutions that companies have sought to provide for decades. Fake image generated with AI of explosion in the Pentagon affects the markets, which put into debate the need to regulate or not the AI.
As artificial intelligence (AI) grows in popularity, the big question among the community is whether it can be useful for generating price predictions. Chatbots like ChatGPT and Bard are taking the market by storm, so the trading community is speculating whether AI can predict future prices.
A report by the consulting firm Capgemini stated that Artificial Intelligence (AI) can facilitate identity and access management for companies in a matter of minutes, due to the great capacity of AI to process large amounts of data.
In another vein, a false image of an alleged explosion at the Pentagon in the United States, created by artificial intelligence (AI), went viral and affected the markets. The multiplication of that image has triggered a fall for ten minutes in the markets.
Can AI Predict Cryptocurrency Prices?
David Booth, the founder, and president of Dimensional Fund Advisor, shared his thoughts on using AI to track stocks. In a Financial Times article, Booth shared that the market is the best AI.
The price of cryptocurrencies is the result of the combination of various information, data, sentiments and even the bets made by various trading algorithms. In this sense, Booth states the following:
“Large language models, the kinds of AI that power tools like ChatGPT, are meant to understand and generate text that looks like it was made by humans, not to predict future results.”
AI Can Speed Up Enterprise Identities and Access in Minutes, According to Capgemini
The report “From insuring assets to protecting mobility,” carried out by Capgemini, maintains that high-impact technologies such as AI will boost industries such as the automotive industry by 23% in the period 2023-2030. In addition, other technologies with a similar impact will be 5G and automotive telematics, with 27% and 21%, respectively.
Capgemini also stated that seven out of 10 companies consider that the metaverse will be a “differentiator” in their markets, especially in customer service. Meanwhile, customers who are aware of the metaverse, 75% of them use it regularly and will continue to do so.
To Regulate or Not to Regulate AI? Fake Image of Explosion in the Pentagon Generated with AI Affects the Markets
The fake image, created using AI, showed a huge column of smoke coming out of the Pentagon. The photo was shared by several social media accounts, forcing the Department of Defense to publicly state that “it was a false report and the Pentagon was not attacked today.”
The image of the Pentagon shared on the networks impacted the markets for a few minutes. The expanded S&P 500 index – of the largest 500 companies and a main benchmark among investors – fell as much as 0.29% compared to its close on Friday, before recovering again.
The circulation of false news on Twitter and its impact on the stock market have reopened the debate on the regulation of AI to avoid incidents like the one reported.
By Audy Castaneda