A finance reporter has put an AI chatbot through its paces to see if it can help her buy a house.
Ivana Pino pitted OpenAI's ChatGPT bot against a human financial advisor to see which one could provide better advice.
Ms Pino wrote: "I wanted to know if ChatGPT is capable of answering some of our most important financial questions and creating a plan for hitting those goals that was tailored to each user's unique financial stats."
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She gave both ChatGPT and human financial adviser Matt Mondoux a scenario in that she was interested in purchasing a $500,000 home within the next five years, along with hypothetical earnings, savings, debts and monthly expenses.
According to her article in Fortune, both ChatGPT and the human told her to pay off her credit card debt and consolidate her student loan debt, although Mr Mondoux gave her much more detailed information on doing this.
ChatGPT then told her to build an emergency fund of 3-6 months of living expenses. It said: "This will help you cover unexpected expenses without going into debt and ensure that you're financially stable before taking on a mortgage."
Meanwhile, Mr Mondoux advised her to save $20,000 per year for a house deposit.
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Ms Pino says that while she was surprised that ChatGPT gave similar advisor to a financial advisor, working with the human 'provided greater value'.
Kyle McIntyre, head of AI engineering at chatbot firm Quiq, warned her: "AI is sometimes biased and wrong."
He added: "It's important to remember that ChatGPT was trained to be creative and to generate human-like text. It wasn't necessarily trained to be right."
You can read Ms Pino's full findings here
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