I messed around with ChatGPT a good bit. It's actually a very deceptive platform.
It clearly has bias', for one. It seems to amalgamate recent trends on the web and regurgitate them as fact.
The result is that it often make false statements on even innocuous, objectively quantifiable questions.
As an example, I asked it :
"Compare the pattern of the DJIA in 1968 to the pattern in 2022."
The response about 1968 included a bunch of political and social events as reasons for the decline. That's highly debatable, it ignores fiscal, other social, and monetary factors.
However, the response for 2022 was objectively incorrect, below :
"In contrast, in 2022, the DJIA saw a positive performance, largely due to a combination of strong economic growth, low interest rates, and a robust technology sector. Despite some short-term volatility due to the COVID-19 pandemic and other geopolitical events, the DJIA ended the year with a gain of over 20%, which was one of its best yearly performances in recent history. "
That is false. The DJIA started 2022 at 36,231 and ended it at 33,147. It declined 10% in 2022.
It also said low interest rates for a year with continuous hikes that have us at the highest rates of the last 15 years. It also completely ignored inflation - both goods, and monetary, which reduces real inflation adjusted gains.
This system is quite good at stringing words together in a coherent way. However, I think it is basically regurgitating what are termed "Normative Facts". Normative Facts are just consensus views, the social zeitgeist so to speak, aka the "Norm" of opinion. This may make it comforting to read for some, but does nothing to advance people's awareness.
In the case of the DJIA question, it clearly "read" a bunch of recent articles on the run up in the index from around October to the end of the year.
It then conflated that 3-month period with the entirety of 2022, and produced an objectively false summary including the ludicrous statement that interest rates were low. If one were to objectively look at 2022 DJIA and relate them to interest rates, you'd find that the DJIA bottomed and started to go up along with interest rates.
I'm not saying those two things happen together or making any such conclusion, I'm just saying that's what happened, and this thing basically just tried to gaslight me.
The problem is, it is quite eloquent in stringing those words together. This gives what it writes a tone of knowing authority that the back end logic actually lacks.
I see it as a very dangerous disinformation tool.