Chat GPT is usually wrong on financial matters

TomEdison said:
So I think the results in the reliable advice steeplechase are:
  1. Advice from a qualified and competent professional
  2. Advice you get on Askaboutmoney
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[EDITED]

I agree but could I perhaps elaborate on your answer?

  • Advice from a qualified professional
    • As evidenced by:
      • Education
      • Experience
      • Up-to-date Governmental Licence
      • Other?

  • Advice from a competent professional
    • As evidenced by:
      • Results
      • Published client feedback
      • Years in business
      • Other?

  • Advice you get on Askaboutmoney
    • As evidenced by:
      • Results
      • Poster feedback

My fear for us as consumers is that the "AI" being wholesaled to us has no feedback loop defined and the LLMs "learn" from themselves and that errors, or unabashed and outright selling via product placement, etc are not getting flagged or corrected.
 
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The last point you make is the only relevant one. I don't think we need to define or quantify "competent" or "qualified" in order for the statement that advice obtained from a competent and qualified professional is more reliable than advice obtained from ChatGPT to be meaningful and true.
 
Sorry I meant to delete references to the AI models, existing or vapourware; now done.

At the moment I seems to me that Séan or Síle citizen has limited means with which to evaluate either the qualifications of the competence of any financial adviser, either in here or out "there" I'm proposing an all encompassing model for such evaluation, which I don't see as a bad thing.
 
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