ChatGPT for (Finance) research: The Bananarama Conjecture
| dc.contributor.author | Dowling , Michael | |
| dc.contributor.author | Lucey, Brian | |
| dc.date.accessioned | 2024-02-02T08:06:00Z | |
| dc.date.available | 2024-02-02T08:06:00Z | |
| dc.date.issued | 2023-05 | |
| dc.description | ChatGPT is an artificial intelligence language model introduced in November 2022 providing generated conversational responses to question prompts. The model is trained with a blend of reinforcement learning algorithms and human input on over 150 billion parameters.1 The platform reached a million users in just its first week open to the public and has been quickly coined ‘‘the industry’s next big disrupter’’ (Grant and Metz, 2022) due to the perceived quality of response output from the model. Although Large Language Models, the technical term for the process underlying this chatbot, have been used for some decades, we were not able to find a study showing how they can be used in the research generation process, as opposed to being used as part of the research. | |
| dc.description.abstract | We show, based on ratings by finance journal reviewers of generated output, that the recently released AI chatbot ChatGPT can significantly assist with finance research. In principle, these results should be generalisable across research domains. There are clear advantages for idea generation and data identification. The technology, however, is weaker on literature synthesis and developing appropriate testing frameworks. Importantly, we further demonstrate that the extent of private data and researcher domain expertise input, are key factors in determining the quality of output. We conclude by considering the implications, particularly the ethical implications, which arise from this new technology. keywords : ChatGPT, Artificial intelligence, Finance, research, Ethics | |
| dc.identifier.citation | Dowling, M., & Lucey, B. (2023). ChatGPT for (finance) research: The Bananarama conjecture. Finance Research Letters, 53, 103662. | |
| dc.identifier.doi | https://doi.org/10.1016/j.frl.2023.103662 | |
| dc.identifier.uri | https://dspace.adu.ac.ae/handle/1/800 | |
| dc.language.iso | en | |
| dc.publisher | Elsevier | |
| dc.title | ChatGPT for (Finance) research: The Bananarama Conjecture | |
| dc.type | Article |