When technology entrepreneur Edward Morris participated in the $5bn initial public offering of chip designer Arm last September, he adopted an entirely artificial intelligence-based strategy that would result in one of his most profitable investments to date.
Morris — who runs the consultancy Enigmatica, specialising in AI and prompt engineering (the creation of chatbot inputs that return the most desirable answers) — says he conducted all the necessary due diligence on his investment using the popular AI-powered virtual assistant ChatGPT and made a 30 per cent return. He typically closes out at 10 per cent.
In the past, Morris might have asked a human financial adviser to help with his investment activities. But, he considers these services “incredibly expensive” and, seeing first-hand the advancement of AI over the past few years, he was keen to try a new approach. He has no regrets.