Soon after ChatGPT burst onto the scene last year, I went to New York City for work... I was making small talk with someone at a company that's part of the fabric of Wall Street. And during our conversation, ChatGPT came up...

My AI Awakening Happened in New York City By Vic Lederman, editorial director, Chaikin Analytics Soon after ChatGPT burst onto the scene last year, I went to New York City for work... I was making small talk with someone at a company that's part of the fabric of Wall Street. And during our conversation, ChatGPT came up... Until then, I had mostly heard about the problems with the generative artificial-intelligence ("AI") tool. After all, it can produce some goofy results. Heck, the chief technology officer at the company that created ChatGPT even sees the problem. Back in February, she told Time magazine that the tool "may make up facts." So I made a joke about these flaws with my new Wall Street friend. I expected the guy to laugh and bash AI's weaknesses with me. But he didn't. In fact, he leaned in and said... "Vic, we're using it already." That got my attention. I knew I needed to hear more. So I asked, "Oh yeah, how so?" That's when he told me something I didn't expect... Recommended Links: Here's What Wall Street Is Watching This Week Half the top 300 financial institutions, the Department of Defense, and the brightest minds at Harvard University, London Business School, and the University of Chicago await one man's prediction for the rest of 2023. Don't be left out – click here to see the full 2023 warning before today's opening bell. Back by Demand: 'The Perfect Transaction' (94% success rate) Since 2010, one little-known trading strategy has booked a 94% success rate and is as close to a Holy Grail as anything we've seen. It's a way to target the best companies in the market and instantly collect payouts of $100s at a time, without ever touching a single stock upfront. By tomorrow, click here to learn more (includes a free recommendation). Before my trip to New York City, I saw the new generative-AI trend as the next "craze" or the latest "buzzword" in the world. But that all changed in a Manhattan office building... My new Wall Street friend helped me see the reality of the situation. "We use it for all kinds of stuff," he said. He explained how his company uses AI to summarize calls. It uses the technology to make bulleted lists from large presentations. And it even uses AI to craft messages to the public. I can't speak for every company in finance. But I now know at least one company in this industry is using AI for all sorts of things. According to my new Wall Street friend, "It's saving hundreds of hours." And what's more, people at the company love using it... I love writing. But as I've learned over the years, many people struggle with that task. For whatever reason, that's especially true for folks who deal with a lot of numbers every day. So in a company packed with those types of people, the AI tool makes writing fun for them. And in case you were wondering, my Wall Street friend said errors aren't a problem like they are with ChatGPT.... A human is always in the loop. The AI tool just does the first batch of heavy lifting for them. Folks, we're talking about one of the most professional settings you can imagine. This Wall Street company is responsible for hundreds of millions of dollars. So I hope my point is clear... Even in its infancy, AI is making a difference in the financial world. On Friday, Chaikin Analytics founder Marc Chaikin explained how the "AI curmudgeons" are out in full force. They'll try to tell you that all the excitement today is overblown. But after my work trip to New York City, I simply can't be one of them. I've seen firsthand how a real business at the highest levels of finance is using AI to improve its productivity. You need to pay attention to this trend. Good investing, Vic Lederman Editor's note: Marc recently told Fox Business that "AI changed the equation"... Like the Internet in the 1990s, this technology is here to stay. And it already has massive buy-in from the biggest and most well-established tech companies of the past 20 years. But AI can also be scary. It's critical to find the right ways to play the trend. To that point, you don't want to miss Marc's brand-new presentation... Specifically, he has identified five companies that Wall Street is focusing on in the coming AI boom – including one stock that's trading for 1/12th the price of Nvidia (NVDA). Watch the presentation right here. Market View Major Indexes and Notable Sectors     # Hld:     Bullish     Neutral     Bearish Dow 30 +0.03% 10 16 4 S&P 500 +0.04% 123 279 97 Nasdaq -0.13% 38 53 8 Small Caps +0.57% 479 990 469 Bonds +0.35% — According to the Chaikin Power Bar, Small Cap stocks and Large Cap stocks are somewhat Bullish. Major indexes are mixed. *  *  *  * Sector Tracker Sector movement over the last 5 days Information Technology -1.16% Energy -1.21% Health Care -1.58% Utilities -1.67% Materials -2.28% Staples -2.38% Industrials -2.43% Financial -2.69% Communication -3.07% Real Estate -3.21% Discretionary -4.16% *  *  *  * Industry Focus Bank Services 11 39 39 Over the past 6 months, the Bank subsector (KBE) has underperformed the S&P 500 by -28.58%. Its Power Bar ratio, which measures future potential, is Very Weak, with more Bearish than Bullish stocks. It is currently ranked #18 of 21 subsectors and has moved down 4 slots over the past week. Indicative Stocks LKFN Lakeland Financial C GBCI Glacier Bancorp, Inc WSBC WesBanco, Inc. *  *  *  * Top Movers Gainers ROST +5.01% AMAT +3.68% GNRC +2.61% EPAM +2.44% AXON +2.41% Losers KEYS -13.78% DE -5.28% MRNA -4.35% EL -3.31% SEE -2.57% *  *  *  * Earnings Report Reporting Today Rating Before Open After Close ZM NDSN No earnings reporting today. Earnings Surprises EL The Estée Lauder Companies Inc. Q4 $0.07 Beat by $0.11 DE Deere & Company Q3 $10.20 Beat by $1.99 PANW Palo Alto Networks, Inc. Q4 $1.44 Beat by $0.15 *  *  *  * You have received this e-mail as part of your subscription to PowerFeed. If you no longer want to receive e-mails from PowerFeed, click here. You're receiving this e-mail at STEVENMAGALLANES520.NIMS@BLOGGER.COM. For questions about your account or to speak with customer service, call +1 (877) 697-6783 (U.S.), 9 a.m. - 5 p.m. Eastern time or e-mail info@chaikinanalytics.com. Please note: The law prohibits us from giving personalized investment advice. © 2023 Chaikin Analytics, LLC. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Chaikin Analytics, LLC. 201 King Of Prussia Rd., Suite 650, Radnor, PA 19087. www.chaikinanalytics.com. Any brokers mentioned constitute a partial list of available brokers and is for your information only. Chaikin Analytics, LLC, does not recommend or endorse any brokers, dealers, or investment advisors. Chaikin Analytics forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Chaikin Analytics, LLC (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation. This work is based on SEC filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.