Testing of ChatGPT-5: Abundant Potential, High Risks - AI Model AdvancementUndergoing Examination: Fewer Questions, Higher Risks
In the world of financial consultation, ChatGPT-5, OpenAI's latest AI model, has made a significant impact. However, it's crucial to approach its suggestions with caution as it is not legally considered investment advice [1][3].
Regulatory agencies monitor the dissemination of financial advice online, but AI tools like ChatGPT-5 avoid crossing into providing regulated advice by explicitly warning users and avoiding personalized recommendations [1]. The model regularly includes disclaimers such as "nothing here is personal financial advice," emphasizing that it cannot replace human experts who understand an individual's full financial situation [1].
ChatGPT-5 evaluates financial situations based on the data provided, but it does not ask questions in health conversations or when analyzing a patient's blood test [2]. Despite its improvements, there are still weaknesses that need to be addressed, such as its inability to follow up when the need for investment is skipped [2].
Niels Nauhauser, a financial expert, had criticized ChatGPT-5 for not following up when the need for investment is skipped in a previous scenario. Nauhauser attempted to adjust the AI by providing context for the upcoming question, but the AI did not ask questions again after acknowledging understanding [2].
The banking supervisor Bafin continues to monitor the development of KIs like ChatGPT-5 to determine if they should be considered investment advice [3]. ChatGPT-5 suggests risky investment products such as cryptocurrencies, options, and speculative individual stocks [3].
Despite these risks, ChatGPT-5's answers are quick, structured, and specific, which can be intimidating but hides its errors. Specifying sources for ChatGPT-5 to reference, such as "scientific sources, consumer centers, and Stiftung Warentest," can help reduce errors [3].
It's important to note that ChatGPT-5's financial advice is informational and unlicensed, falling outside the scope of regulated financial advice, and thus it does not require official approval from financial authorities. Users should always verify AI-generated information independently and seek professional advice for personalized financial decisions [3].
Compared to other AIs like Gemini (from Google) or Deepseek, ChatGPT-5 provides more specific and less general answers to the same question [1]. The new version of OpenAI's AI, ChatGPT-5, comes with nine voices, including Juniper, which is described as the "open and cheerful" variant [1].
In summary, while ChatGPT-5 is a valuable tool for financial guidance, it's not a substitute for professional advice. Users should be cautious and verify the information independently before making any financial decisions.
