Nexus between Chat GPT usage dimensions and investment decisions making in Pakistan: Moderating role of financial literacy

Rafid Ullah, Hishamuddin Bin Ismail, Mohammad Tariqul Islam Khan and Ali Zeb

Technology in Society, 2024, vol. 76, issue C

Abstract: This study's primary goal is to investigate and gain better knowledge of the relationship between ChatGPT usage dimensions such as analyzing data, managing risk, optimizing portfolios, forecasting market trends, and conducting sentiment analysis and investment decisions of investors in the Pakistan stock market, as well as the moderating role of financial literacy. The sample for this study included individual stock market investors in Pakistan. Using a self-administered questionnaire and a cross-sectional design, a non-probability convenience sampling technique followed by snowball techniques was used to collect data from 388 active and potential individual investors. The study's findings showed that ChatGPT usage dimensions have a positive and significant impact on investment decision making. Furthermore, financial literacy is found to moderate the relationship between optimizing portfolios, forecasting market trends, and investment decision making. The study's findings outlined practical implications for the researcher, financial advisors, individual investors, governmental decision-makers, policymakers, and stock market authorities who are interested in leveraging the benefits of artificial intelligence and machine learning in investment decision making in the context of emerging economies like Pakistan.

Keywords: ChatGPT; Analyzing data; Managing risk; Optimizing portfolios; Forecasting market trends; Conducting sentiment analysis; Financial literacy and investment decision making (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:teinso:v:76:y:2024:i:c:s0160791x24000022

DOI: 10.1016/j.techsoc.2024.102454

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