As AI chatbots gain momentum, a growing number of retail investors are turning to them for stock-picking guidance.
Reuters reports a survey of 11,000 retail investors by eToro found that 13 percent already use AI tools like ChatGPT or Google’s Gemini to select stocks, with about half open to using such tools for portfolio decisions.
Unlike algorithmic trading that executes thousands of trades automatically, people are using ChatGPT as an advisory resource, reading its analysis and then placing trades manually.
UBS veteran Jeremy Leung says he now relies on ChatGPT for his multi-asset portfolio, noting that it can replicate workflows once reserved for expensive data terminals.
In a separate test, Finder asked ChatGPT to pick a 38-stock portfolio based on criteria like debt and growth; the resulting portfolio reportedly rose about 55 percent, outperforming the UK’s top funds by a sizable margin.
But analysts caution that stock markets in the current environment—with major indices near record highs—can make almost any picking method look effective. The S&P 500 is up around 13% this year after a 23% gain last year, creating a favorable backdrop for AI-driven signals.
Experts say the trend highlights how new technology can democratize investment analysis, yet warn that AI models can misquote figures and lack real-time data, making them risky substitutes for professional advice.
