ChatGPT Returns Over 500%

Welcome to edition #16 of the “No Longer a Nincompoop with Nofil” newsletter.

Here’s the tea ☕

• ChatGPT beats the market 📈

• OpenAI iOS app📱

• Master photoshop in seconds 🎨

Become a professional trader with ChatGPT

I want to preface this by saying I don’t know anything about trading or investing, and I definitely don’t think you should depend on ChatGPT for investing advice.

Researchers from the University of Florida incorporated ChatGPT into six different investing strategies, one of which yielded returns of over 500%.

The team analysed stock-related headlines from October 2021 to December 2022. They collected 67,586 headlines relating to 4,138 unique companies during this time. They then evaluated each headline based on whether it was Good News, Bad News or Unknown, giving a short description as well. Using natural language processing and reasoning, ChatGPT, or more specifically, GPT-3.5 was able to quite accurately select companies whose value would increase.

You may be wondering how this is possible. Here’s a thought. These AI models have seen billions of textual data. They’ve analysed and learnt patterns across the entire English language and across every single topic humans have ever written about. They see patterns in language we can never see. Headlines or articles that may seem obvious in meaning and impact to us might be viewed entirely differently by these models. This is one aspect that makes them so powerful.

Mind you this was using GPT-3.5 which is inferior to GPT-4, especially in reasoning. Although companies have already been using AI and ML in their trading algorithms for years, I have no doubt they’ll eventually build LLMs specifically for market analysis and trading. The first company to get this out first will win. The race is on.

ChatGPT iOS App

OpenAI has finally released an iOS app for ChatGPT. The fact that it took this long just goes to show how long it takes to build a good, functioning mobile app and well, they’ve apparently done a brilliant job. I’m using the word apparently because unfortunately, I can’t use it myself as it’s only available in the US for now. They have announced they’ll be releasing it across other countries soon and that an Android app is also in the works. I’m most excited to try out the voice input which I’ve read works quite well.

At the moment, if you search for ChatGPT in the iOS store you’ll find dozens of clone apps that use the ChatGPT API, and they’re completely free. You might think, wouldn’t they be losing money if they offer the app for free? From the ad revenue alone, some of these apps are easily generating over $1m every single month. By being first in the market, they managed to get hundreds of thousands of users in a manner of weeks. The power of speed.

Plugins for all, only if you pay

If you’re a Plus subscriber then you might have noticed people talking about getting access to plugins. It’s not quite clear how to actually enable this; I’m not sure why OpenAI didn’t enable it for all users automatically. Go to your settings and enable it in Beta Features. Web browsing is still being rolled out.

Photo manipulation in the palm of your hands

A few weeks ago I wrote about the tool you can use to generate images and then edit them locally on your computer. I was amazed at the power of AI photoshop. Well, we might have the ultimate version of such a tool.

DragGan lets you grab and move any part of an image however you want; change the pose, shape and expression of models and objects in extremely precise and calculated ways. Don’t worry, I’m sure no one is going to use this for bad things, definitely not going to happen. The website is still under development so we can’t use it just yet. In the meantime, you can read the paper here.

One agent to rule them all

HuggingFace is a website that hosts thousands of models that people use daily to run AI programs. What if you could talk to all of these models in natural language and have them do things for you?

That’s what HuggingFace is building with their Transformer Agent. This allows people to speak with and control over 100 thousand models hosted on HF with a simple conversation. You simply tell an AI agent what you want and it then goes and figures out what tools to use to make it happen.

When this gets refined it will be an incredibly powerful process. The ecosystem of models HF possesses will allow them to build AI systems that could do almost anything. It also comes with some built-in tools for document q&a, speech-to-text, image generation and more. The barrier to building with AI has never been lower. You can check out the Twitter announcement here.

As always, Thanks for reading ❤️

Written by a human named Nofil