ChatGPT for (Finance) research: The Bananarama Conjecture

Michael Dowling and Brian Lucey

Finance Research Letters, 2023, vol. 53, issue C

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 (search for similar items in EconPapers)
JEL-codes: G00 G10 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (42)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:53:y:2023:i:c:s1544612323000363

DOI: 10.1016/j.frl.2023.103662

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