According to a new study by researchers at Stanford University and the University of Utah, the latest version of OpenAI’s ChatGPT, ChatGPT-4, outperformed human analysts in financial analysis and forecasting tasks. The study found that ChatGPT-4’s analysis and forecasts were more accurate and consistent than those of human analysts, particularly in complex scenarios. The researchers tested ChatGPT-4 and human analysts on tasks such as analyzing financial statements, forecasting future performance, and identifying potential risks and opportunities. ChatGPT-4 demonstrated a deeper understanding of financial concepts, better ability to synthesize large amounts of data, and more consistent application of analytical frameworks. However, the study also highlighted the importance of human oversight and the need for AI systems to be transparent and explainable. The researchers emphasized that AI should be used as a tool to augment and enhance human decision-making, rather than replace it entirely.