GPT has become financially literate: Insights from financial literacy tests of GPT and a preliminary test of how people use it as a source of advice

We assess the ability of GPT–a large language model–to serve as a financial robo-advisor for masses, by using literacy test. Davinci and ChatGPT based on GPT-3.5 score 66% 65% test, respectively, compared to baseline 33%. However, GPT-4 achieves near-perfect 99% score, pointing becoming an emergent state-of-the-art models. use Judge-Advisor System savings dilemma illustrate how researchers might advice-utilization from also present number directions future research.