Who enjoys getting buried into the details of a financial statement? AI, it turns out. From Techradar:

New research has claimed large language models, specifically GPT-4 (which powers certain versions of ChatGPT and various Microsoft Copilot-branded generative AI products) is able to analyze financial statements with greater accuracy than humans.

The findings from researchers at the University of Chicago suggest significant implications for the future of financial analysis and decision-making as AI becomes more commonplace.

The study also highlights the versatility of generic, multipurpose LLMs such as GPT-4, which can offer similar abilities as more specialized tools, noting, “We find that the prediction accuracy of the LLM is on par with the performance of a narrowly trained state-of-the-art ML model.”

Does this mean we’ll have GPT-4 financial advisors? Very likely.

Read their report here.