A First Look at Financial Data Analysis Using ChatGPT-4o

ArXiv ID: ssrn-4849578 “View on arXiv”

Authors: Unknown

Abstract

OpenAI’s new flagship model, ChatGPT-4o, released on May 13, 2024, offers enhanced natural language understanding and more coherent responses. In this paper, we

Keywords: Large Language Models (LLMs), Natural Language Processing, Generative AI, AI Evaluation, Model Performance, Technology/AI

Complexity vs Empirical Score

• Math Complexity: 4.0/10
• Empirical Rigor: 6.5/10
• Quadrant: Street Traders
• Why: The paper involves implementing and comparing specific financial models like ARMA-GARCH, indicating moderate-to-high implementation complexity, but the core mathematics is largely descriptive and comparative rather than novel. Empirical rigor is high due to the use of real datasets (CRSP, Fama-French) and direct backtesting comparisons against Stata.

  flowchart TD
    A["Research Goal: Evaluate ChatGPT-4o for Financial Data Analysis"] --> B["Methodology: Zero-shot vs. Chain-of-Thought"]
    B --> C["Input: Financial Statements & Market Data"]
    C --> D["Process: Text Generation & Sentiment Analysis"]
    D --> E["Output: Financial Predictions & Explanations"]
    E --> F["Key Findings: High Accuracy in NLP Tasks"]
    F --> G["Outcome: Strong Potential but Limited Numerical Reasoning"]