What Exactly Can You Do With ChatGPT? - Financial Freedom And Me (2024)

Leave a Comment / By Eric Piccione / December 15, 2023

Use ChatGPT Properly and Become Superhuman

What Exactly Can You Do WithChatGPT? - Financial Freedom And Me (1)

It’s no surprise that ChatGPT is revolutionary.

ChatGPT gives us seemingly infinite possibilities. Assuming you have the creativity to tap into it the power of ChatGPT, you can expedite your growth in any category.

At this point in time, there’s definitely work needed to be done in order to maximize what you can do with ChatGPT. It struggles with math equations, coding, and long form writing. On the flip side, when it comes to idea generation or optimizing sentences or titles, as well as summarizing long transcripts, ChatGPT excels.

What Exactly Can ChatGPTDo?

Below are some examples of ChatGPT’s capabilities according to an OpenAi Blog post:

Grammar, Language, and Entertainment RelatedFixes

  • “Grammar correction Corrects sentences into standard English.
  • Q&A Answer questions based on existing knowledge.
  • Summarize for a 2nd grader Translates difficult text into simpler concepts.
  • Text to command Translate text into programmatic commands.
  • English to other languages Translates English text into French, Spanish and Japanese.
  • Movie to Emoji Convert movie titles into emojis.
  • Classification Classify items into categories via example.
  • Calculate Time Complexity Find the time complexity of a function.
  • Factual answering Guide the model towards factual answering by showing it how to respond to questions that fall outside its knowledge base. Using a ‘?’ to indicate a response to words and phrases that it doesn’t know provides a natural response that seems to work better than more abstract replies.
  • Third-person converter Converts first-person POV to the third-person. This is modified from a community prompt to use fewer examples.
  • Friend chat Emulate a text message conversation.
  • Mood to color Turn a text description into a color.
  • Analogy maker Create analogies. Modified from a community prompt to require fewer examples.
What Exactly Can You Do WithChatGPT? - Financial Freedom And Me (2)

Are you a coder? Here’s how ChatGPT CanHelp?

  • Natural language to Stripe API Create code to call the Stripe API using natural language.
  • SQL translate Translate natural language to SQL queries.
  • Parse unstructured data Create tables from long form text
  • Python to natural language Explain a piece of Python code in human understandable language.
  • Python bug fixer Find and fix bugs in source code.
  • Natural language to OpenAI API Create code to call to the OpenAI API using a natural language instruction.
  • Translate programming languages Translate from one programming language to another
  • JavaScript helper chatbot Message-style bot that answers JavaScript questions
  • ML/AI language model tutor Bot that answers questions about language models
  • Translate programming languages Translate from one programming language to another
  • Airport code extractor Extract airport codes from text.
  • Advanced tweet classifier Advanced sentiment detection for a piece of text.
  • Explain code Explain a complicated piece of code.
  • SQL request Create simple SQL queries.
  • JavaScript to Python Convert simple JavaScript expressions into Python.
  • JavaScript one line function Turn a JavaScript function into a one liner.
  • Write a Python docstring An example of how to create a docstring for a given Python function. We specify the Python version, paste in the code, and then ask within a comment for a docstring, and give a characteristic beginning of a docstring (“””).
  • ESRB rating Categorize text based upon ESRB ratings.
What Exactly Can You Do WithChatGPT? - Financial Freedom And Me (3)

Generate Ideas WithChatGPT

  • Science fiction book list maker Create a list of items for a given topic.
  • Product name generator Create product names from examples words. Influenced by a community prompt.
  • Micro horror story creator Creates two to three sentence short horror stories from a topic input.
  • Recipe creator (eat at your own risk) Create a recipe from a list of ingredients.
  • VR fitness idea generator Create ideas for fitness and virtual reality games.
  • Interview questions Create interview questions.
  • Restaurant review creator Turn a few words into a restaurant review.
What Exactly Can You Do WithChatGPT? - Financial Freedom And Me (4)

Use ChatGPT To Summarize

  • Keywords Extract keywords from a block of text.
  • Ad from product description Turn a product description into ad copy.
  • TL;DR summarization Summarize text by adding a ‘tl;dr:’ to the end of a text passage. It shows that the API understands how to perform a number of tasks with no instructions.
  • Spreadsheet creator Create spreadsheets of various kinds of data. It’s a long prompt but very versatile. Output can be copy+pasted into a text file and saved as a.csv with pipe separators.
  • Tweet classifier Basic sentiment detection for a piece of text.
  • Extract contact information Extract contact information from a block of text.
  • Notes to summary Turn meeting notes into a summary.
  • Essay outline Generate an outline for a research topic.
  • Chat Open-ended conversation with an AI assistant.
  • Marv the sarcastic chatbot Marv is a factual chatbot that is also sarcastic.
  • Turn-by-turn directions Convert natural language to turn-by-turn directions.
  • Create study notes Provide a topic and get study notes.
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This is just scratching the surface of the full possibilities of ChatGPT. As things progress, the interface and efficiency will improve. And of course, it will learn from past errors or miscalculations and will be able to continue getting better to give even more options to the users that tap into ChatGPT’s potential. Leave a comment below, have you used ChatGPT before?

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What is ChatGPT and How It Can Change the World

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What Exactly Can You Do With ChatGPT? - Financial Freedom And Me (2024)

FAQs

What Exactly Can You Do With ChatGPT? - Financial Freedom And Me? ›

With the help of ChatGPT, you can understand your numbers and visualize the exit happening. Outline the steps that take you there then figure out how to do it faster. Finally, think about how you'll spend your time. Financial freedom is possible, but not without thinking about it now.

Can you use ChatGPT as a financial advisor? ›

How Advisors Can Use ChatGPT and AI to Grow or Streamline Business. Recently, buzzy artificial intelligence tools have demonstrated the capability to shake up nearly any industry. That includes financial advising.

How to use ChatGPT in finance? ›

How Finance Teams Can Use ChatGPT
  1. Financial analysis and decision-support.
  2. Expense management and budgets.
  3. Creating computer code.
  4. Cash flow projections.
  5. Researching financing and investment products.
  6. Researching economic and industry trends with financial impacts.
  7. M&A and corporate development.

Can I use ChatGPT for investing? ›

With some basic programming knowledge, ChatGPT can help investors write code to chart stock returns, build portfolios, and visualize performance.

What does financial freedom allow you to do? ›

Financial freedom is a state where you have complete control over your finances, allowing you to make choices based on your desires and goals rather than being limited by how much things cost. It means having enough income or savings to cover your expenses, giving you the freedom to live life on your own terms.

Can ChatGPT 4 provide financial advice? ›

GPT-4 was not specifically trained for financial advice, but it nevertheless delivers very reasonable results for this task,” says Lars Hornuf, summarizing the results of the study.

Can you ask ChatGPT for advice? ›

Trained on massive quantities of text (much of which was scraped from the internet), ChatGPT can provide advice on almost any topic. It can answer questions about law, medicine, history, geography, economics and much more (although, as many have found, it's always worth fact-checking the answers).

Can ChatGPT make a balance sheet? ›

Automatic generation of financial reports: ChatGPT can be used to automatically generate reports such as financial statements, balance sheets and income statements from raw data. It can also be used to create interactive dashboards for executives to track the company's financial performance.

Can ChatGPT analyze bank statements? ›

ChatGPT is an AI tool that's set to revolutionize the fintech industry. It can sift through mountains of financial data, analyze complex financial statements, and even provide insights into investment decisions.

Can ChatGPT analyze a balance sheet? ›

Analysts can use ChatGPT to analyze financial statements and other data to make investment decisions. ChatGPT can also help identify trends and patterns in market data that may otherwise be missed.

Can ChatGPT predict the stock market? ›

ChatGPT is trained with the help of a massive database of financial reports and statistics. As a result, it may investigate the interaction between the variables that affect stock prices. Later, based on this data, ChatGPT can formulate market direction predictions.

What stocks does ChatGPT recommend? ›

Comparison Results
NamePriceAnalyst Price Target
NVDA Nvidia$871.33$989.53 (13.57% Upside)
GOOGL Alphabet Class A$154.85$165.98 (7.19% Upside)
MSFT Microsoft$424.59$473.77 (11.58% Upside)
AMZN Amazon$185.19$209.74 (13.26% Upside)
5 more rows

What company owns ChatGPT? ›

Chat GPT is owned by OpenAI LP, an artificial intelligence research lab consisting of the for-profit OpenAI LP and its parent company, the non-profit OpenAI Inc.

What is the 4 rule for financial freedom? ›

The 4% rule says people should withdraw 4% of their retirement funds in the first year after retiring and take that dollar amount, adjusted for inflation, every year after. The rule seeks to establish a steady and safe income stream that will meet a retiree's current and future financial needs.

What salary is needed for financial freedom? ›

Perhaps surprisingly then, financial freedom comes at a much lower price point in the eyes of the average American, according to Empower—about $94,000 a year, is how much they said they'd need to earn to feel financially independent. But that's still about $20,000 more than the median household income of $74,580.

What net worth is needed for financial freedom? ›

Amassing a net worth equal to 20X your average annual gross income will be hard. But good news! Once you have a minimum portfolio balance of $300,000 you will start feeling free. And once your net worth reaches 10X your average annual gross income, that's when the feeling of financial independence starts kicking in.

How a financial advisor can use AI? ›

AI can help financial advisors with a variety of day-to-day tasks, including client service, data analysis, portfolio optimization, risk assessment, and trend prediction. SigFig, Datamaran, and PulseFolio are examples of artificial intelligence tools that advisors can use to assist with financial services.

Will AI replace human financial advisors? ›

AI financial planning is undoubtedly transforming the financial industry, and with it, the role of financial advisors. But rather than a complete replacement, AI will likely serve to supplement existing financial advice capabilities, accelerated by technology-driven solutions.

What is the AI that gives financial advice? ›

Generative AI has emerged as a useful tool for financial advice, offering consumers a free way to receive customized guidance on everything from creating a budget to managing an investment portfolio.

Do millionaires use financial advisors? ›

7. Seek Professional Finance Advice. Of high-net-worth individuals, 70 percent work with a financial advisor. You can compare that to just 37 percent in the general population.

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