Introducing PortfolioPilot, A Verified ChatGPT Plugin
Investing in the stock market can be daunting, especially for those needing more experience and knowledge. With so much information available, it can be easy to feel overwhelmed and make decisions based on emotions rather than facts. However, a new AI-powered investing tool promises to improve investing for millions. Meet PortfolioPilot, a verified ChatGPT plugin AI software entrepreneur Alex Harmsen co-founded. Hedge fund-caliber models back the tool and use OpenAI’s ChatGPT to manage portfolios effectively.
Also Read: Stock Prices Prediction Using Machine Learning and Deep Learning
PortfolioPilot offers a multitude of features that aim to simplify the investing process. Users can copy and paste their portfolios into the tool for analysis. Additionally, they can also receive investment recommendations, search for market information, and ask the bot questions – all for free.
Also Read: OpenAI Seeks Trademark for ‘GPT’
What Does The Co-Founder Have to Say?
“We are on an ambitious mission to build a complete map of how the economy works,” says Alex Harmsen, CEO and Co-Founder of PortfolioPilot, in a statement. “This will dramatically improve investing for millions, decrease risk in decision making, and remove huge inefficiencies in the financial sector.”
The tool has been in beta for over a year, with close to a billion dollars of assets on the platform. However, it was only recently opened up to the general public, said Alex. As part of their multi-week launch strategy, thousands of users signed up over the last few days. They also teased a tax loss harvesting tool they plan to launch on December 1st. It is one of the most requested things from people already using the system.
According to new data, Americans have wasted no time trying ChatGPT for stock recommendations since the AI-powered chatbot became available in November. A study released this week by The Motley Fool found that 47% of U.S. adults have already used the tool for stock picks. Moreover, 69% said they are open to doing so.
Learn More: Everything You Need to Know About ChatGPT
How Does PortfolioPilot Work?
PortfolioPilot uses a combination of AI and machine learning to make investment recommendations. The tool analyzes the user’s portfolio and identifies areas for improvement. Further, it provides targeted suggestions based on market trends and other relevant factors.
Users can also use AI-powered investing tools like PortfolioPilot to search for information about specific companies, industries, or markets. The tool retrieves data from reliable sources such as Bloomberg and Yahoo Finance. Thus, providing users with accurate and up-to-date information about their investments.
In addition, users can ask the bot questions about investing, such as “What should I do if the market crashes?” or “How can I diversify my portfolio?” The bot will provide answers based on its extensive knowledge base and the user’s circumstances.
Features Of PortfolioPilot
PortfolioPilot offers a variety of investment strategies aimed at helping users achieve their financial goals. One such strategy is tax loss harvesting, which minimizes taxes on investment gains. Here are the features included in it:
- ETF Searching: PortfolioPilot enables users to search for exchange-traded funds (ETFs) based on various criteria, including performance, expense ratio, and assets under management.
- Company Comparison: The platform allows users to compare multiple companies based on financial metrics such as revenue, profit margin, and earnings per share.
- Portfolio Importing: Users can import their existing portfolios into PortfolioPilot to track their performance and analyze their holdings.
- Portfolio Assessments: PortfolioPilot provides users with reviews of their portfolios’ risk level, diversification, and overall performance.
- Portfolio Analytics: The platform offers in-depth analytics tools that allow users to analyze their portfolios’ performance and identify areas for improvement.
- Subsequent Investment Suggestions: Based on a user’s portfolio and investment goals, PortfolioPilot can provide personalized investment suggestions.
- Security Details: PortfolioPilot provides users with detailed information about individual securities, including historical prices, dividends, and earnings.
- Stock Search: Users can search for individual stocks by ticker symbol or company name. Additionally, they can view detailed information about each stock.
Benefits of Using PortfolioPilot
There are several benefits to using AI-powered investing tools like PortfolioPilot for managing your investments. Some of these include:
- Improved Decision Making: Using PortfolioPilot, users can make more informed investment decisions. The tool provides data-driven insights that help users identify potential risks and opportunities.
- Time-Saving: Researching individual stocks and analyzing market trends can be time-consuming. PortfolioPilot streamlines this process, allowing users to access relevant information and make decisions more efficiently and quickly.
- Cost-Effective: PortfolioPilot is a free tool to help users save money on costly consulting fees. The tool can help users maximize their returns without incurring unnecessary costs by providing personalized recommendations based on each user’s unique circumstances.
- Accessible: PortfolioPilot is available to anyone with an internet connection, making it accessible to many investors. The tool is easy to use, even for those lacking stock market experience.
Our Say
PortfolioPilot, a verified ChatGPT plugin, is a promising new tool for investors looking to simplify and improve their investment strategies. With its advanced AI-powered features, the tool provides users with data-driven insights and personalized recommendations. This can help them maximize their returns and minimize risk. With the number of users of ChatGPT for stock recommendations increasing, it is clear that AI-powered investing tools like PortfolioPilot are the future of investment management.
