Hedge Funds Using ChatGPT for Marketing, Document Analysis

Hedge funds and other money managers are increasingly leaning on ChatGPT for marketing, and to summarize vast reports, according to a new survey.

Forty-four percent of money managers use the artificial intelligence tool in a professional capacity, according to the report from BNP Paribas SA. Most utilize ChatGPT to generate marketing text, or to recap large documents such as regulatory filings or broker research reports.

Some of the managers surveyed said they’d like to use ChatGPT to analyze legal documents.

Generative AI tools such as OpenAI Inc.-owned ChatGPT have quickly gained traction among money managers, as the technology ...