- [Instructor] As we're going to find out,
ChatGPT has some really powerful tools
and capabilities built in, but it's not perfect.
Let's take a look at some of the use cases
for ChatGPT in finance, though.
So I'm going to start with something basic.
I'd like ChatGPT to go through
and give me a rundown on some common financial terms
in plain, easy-to-understand language.
These include return on invested capital, liquidity ratio,
capital appreciation, and diversification.
So after I send the message to ChatGPT,
it's going to go through and give me a breakdown
on each of these terms in very basic language.
Now, it gives kind of simple examples for each
of these different terms, but you might use this
if you're coming up with a report, or constructing, say,
investor education materials, or things like that.
But how about financial analysis?
So let's say we wanted to compare two different companies,
Google and Microsoft.
All right, well, I've got financial data
for two different firms,
and I want ChatGPT to perform an analysis
that compares the revenue performance
for the two companies over the last few years,
and then suggests some graphs or visualizations
for this, all right?
Now, ChatGPT's going to tell me it needs financial data
for both firms, okay?
Now, it's going to start kind
of going into its general process.
I don't want to sit through all that,
so I'm simply going to stop it here.
Then I'm going to go get my financial data.
Now we'll talk later about how you can use plugins,
and one of the things plugins can do is allow you
to pull that data directly into ChatGPT.
But for our purposes, I'm going to copy this out
of Yahoo Finance, and then put it into ChatGPT.
So now I've copied the Microsoft financial data,
and I'm going to put it into ChatGPT.
And again, it's going to start going through
and analyzing this information for me,
and it's got some kind of interesting insights to offer.
But again, I don't necessarily want to go through
and kind of sit through all this.
So I'm going to stop it,
because my real goal is to compare Google and Microsoft.
Now we're going to do the same thing with the Google data.
I've just copied this Google data,
and I'm going to put it into ChatGPT.
So now that we have data for both firms,
it's going to go through,
and just start analyzing the comparative revenue performance
for the two firms against one another over time, right?
So it comes through
and it's going to compute year-on-year revenue growth
for Microsoft, and then for Google, and compare the two.
So when we get done, it goes through,
and it does a fairly good reasonable revenue comparison
between the two firms, kind of looking at them overall.
Now we do have to be careful
that it's going to figure out the right numbers,
'cause I just put this in as raw data copied right out
of the financial statements found on Yahoo Finance.
But this gives you a pretty good tool to quickly, easily,
and effectively go through and do this type of comparison.
Now, I'm sure that financial experts could do this kind
of analysis also,
and they could certainly probably do an even deeper
or better job than ChatGPT could,
but it sure is easy to just give ChatGPT this information
and let it run with it, right?
So in terms of enhancing productivity,
this is a very, very powerful tool if you work in finance.