Evidence map›Paper›PMID 38304767›Full record

ArticleHeliyon2024

ChatGPT in finance: Applications, challenges, and solutions.

Muhammad Salar Khan, Hamza Umer

Open access · goldAbstract read
In one paragraph

Article in Heliyon, 2024. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 4 papers.

0numbers the graph read from it
0cells of the map it votes in
4citing papers in PubMed
7.2field-weighted citation impact, top 3% of its field
1 · What the graph read from it

What it found

Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.

The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.

2 · The registry

The trial behind it

Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.

Neither the registry nor the abstract names a trial number. If this is a trial report, that itself is worth knowing.

3 · Its place in the literature

Who cites it

4 citing papers in PubMed, 60 citations in OpenAlex.

  1. Article
  2. Review
  3. Article
  4. Article
4 · The record

Corrections and comments

PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.

5 · Who and what money

Authors and funding

2 authors at 2 institutions in 2 countries.

Muhammad Salar KhanSchar School of Policy and Government, George Mason University, USA.
Hamza UmerHitotsubashi Institute for Advanced Study (HIAS), Institute of Economic Research (IER), Hitotsubashi University, Japan.
George Mason University · USHitotsubashi University · JP

Funding

No grant is acknowledged in the PubMed record.

6 · The paper itself

Abstract

The emergence of ChatGPT, a generative artificial intelligence tool, has sparked a revolution in the finance industry, enabling individuals to interact with technology in natural language. However, the use of ChatGPT in finance presents a profound array of ethical considerations that demand careful scrutiny to ensure its responsible and ethical use. After a concise exploration of ChatGPT's applications in finance, this policy article delves into the ethical challenges arising from the use of ChatGPT in finance, including outcomes contaminated with biases, incorporation of fake information in the financial decisions, concerns surrounding privacy and security, lack of transparency and accountability in the decision-making processes and financial services, human job displacement, and the intricate web of legal complexities. Our article asserts that financial institutions employing ChatGPT must proactively devise strategies to confront these burgeoning challenges, mitigating their adverse effects on both individuals and society as a whole. Additionally, we propose relevant policies to tackle these ethical quandaries head-on. In essence, this article illuminates the imperative need for a meticulous ethical framework, facilitating an informed and responsible use of ChatGPT in the realm of finance, safeguarding the welfare of individuals and society. While our work significantly contributes to the research and practice of finance, we also identify future research avenues.

Indexed as

ApplicationsArtificial intelligenceChatGPTEthical challengesFinancePolicies

Identifiers

PMID38304767
PMCPMC10831748
OpenAlexW4391036703

What OpenQuestion holds

Textmetadata
LicenceCC BY
Read underepoch 390

Registered trials

None linked

Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.