Related papers: Generative AI for Stock Selection
We study how generative artificial intelligence (AI) transforms the work of financial analysts. Using the 2023 launch of FactSet's AI platform as a natural experiment, we find that adoption produces markedly richer and more comprehensive…
Generative Artificial Intelligence is emerging as an important technology, promising to be transformative in many areas. At the same time, generative AI techniques are based on sampling from probabilistic models, and by default, they come…
The construction industry is a vital sector of the global economy, but it faces many productivity challenges in various processes, such as design, planning, procurement, inspection, and maintenance. Generative artificial intelligence (AI),…
We use generative AI to extract managerial expectations about their economic outlook from 120,000+ corporate conference call transcripts. The resulting AI Economy Score predicts GDP growth, production, and employment up to 10 quarters…
In the trading process, financial signals often imply the time to buy and sell assets to generate excess returns compared to a benchmark (e.g., an index). Alpha is the portion of an asset's return that is not explained by exposure to this…
The rapid advancements in large language models and generative artificial intelligence (AI) capabilities are making their broad application in the high-stakes testing context more likely. Use of generative AI in the scoring of constructed…
Generative Artificial Intelligence (GenAI) is transforming how firms create, process, and apply knowledge, yet little is known about the heterogeneity of its productivity effects across users. We report results from a randomized controlled…
We explore the value of generative AI tools, such as ChatGPT, in helping investors uncover dimensions of corporate risk. We develop and validate firm-level measures of risk exposure to political, climate, and AI-related risks. Using the GPT…
Generative AI is rapidly transforming how organizations create value and evaluate talent. While large language models enhance baseline output quality, they simultaneously introduce ambiguity in assessing human creativity, as observable…
New systems employ Machine Learning to sift through large knowledge sources, creating flexible Large Language Models. These models discern context and predict sequential information in various communication forms. Generative AI, leveraging…
Generative AI technologies have demonstrated significant potential across diverse applications. This study provides a comparative analysis of credit score modeling techniques, contrasting traditional approaches with those leveraging…
Deep Generative AI has been a long-standing essential topic in the machine learning community, which can impact a number of application areas like text generation and computer vision. The major paradigm to train a generative model is…
Information asymmetry often leads to adverse selection and moral hazard in economic markets, causing inefficiencies and welfare losses. Traditional methods to address these issues, such as signaling and screening, are frequently…
Data-driven operations management often relies on parameters estimated from costly human-generated labels. Recent advances in large language models (LLMs) and other AI systems offer inexpensive auxiliary data, but introduce a new challenge:…
The rapid advancements in large language models and generative artificial intelligence (AI) capabilities are making their broad application in the high-stakes testing context more likely. Use of generative AI in the scoring of constructed…
This paper introduces StockGPT, an autoregressive ``number'' model trained and tested on 70 million daily U.S.\ stock returns over nearly 100 years. Treating each return series as a sequence of tokens, StockGPT automatically learns the…
Generative AI models are capable of performing a wide variety of tasks that have traditionally required creativity and human understanding. During training, they learn patterns from existing data and can subsequently generate new content…
AI and generative AI tools, including chatbots like ChatGPT that rely on large language models (LLMs), have burst onto the scene this year, creating incredible opportunities to increase work productivity and improve our lives. Statisticians…
The use of deep learning for database optimization has gained significant traction, offering improvements in indexing, cardinality estimation, and query optimization. However, acquiring high-quality training data remains a significant…
We explore the potential for combining generative AI with grammar-based visualizations for biomedical data discovery. In our prototype, we use a multi-agent system to generate visualization specifications and apply filters. These…