Retail investors nearing retirement age are increasingly investing in artificial intelligence (AI) stocks since the launch of ChatGPT, according to recent data from the eToro platform. The social trading giant reveals that the number of investors aged 55 and over investing in AI stocks has grown significantly faster than any other age group.

eToro Records 60% Increase in AI Stock Investments by Over-55s

Following ChatGPT's release in late November 2022, eToro, a social trading and investment platform, experienced a surge in AI stock trading activity among older investors. In the first quarter of 2023, investors over-55s exhibited an increase of 60% in new positions opened in AI stocks compared to the last quarter of 2022. Comparatively, the 18-34 age group saw a rise of 41%, while the 35-44 age group experienced an increase of 54%.

C3.ai (NYSE:AI), an enterprise AI software provider, witnessed the most significant growth in new positions opened by the over-55 age group, with a remarkable increase of 22,000%. This growth rate is approximately three times higher than that seen among other age groups. Other AI stocks that attracted substantial interest from mature investors include Intel (NASDAQ: INYC), with 93% growth in new positions, NVIDIA (NASDAQ: NVDA), with 91% growth, and SentinelOne (NYSE: S) with 84% growth.

Addressing the data, Ben Laidler, Global Markets Strategist at eToro, stated that while it is commonly assumed that younger, tech-savvy individuals are the primary adopters of AI, the data indicates that ChatGPT has attracted interest across all age groups, with a significant number of older investors participating.

"eToro users nearing or already in retirement are now embracing AI-related stocks at a faster rate than their younger counterparts and by doing so bucking many tech-adoption stereotypes. It's a reminder that technology is a key driver and opportunity for all," Laidler added.

Source: eToro

Retail Investor Beat by eToro Shows Rising Interest in AI

eToro's Retail Investor Beat, a global survey of 10,000 retail investors across 13 countries, provides further evidence of the new AI trend. About 17% of respondents aged 55 and over plan to raise their investments in sectors that benefit from AI, with only 5% planning to reduce allocations in such sectors. Additionally, nearly half (46%) of this demographic would prefer AI or machine learning to manage their portfolios over human fund managers.

"As well as being increasingly investable, AI has the potential to play a central role in retail investor strategy. By enabling them to analyze vast amounts of data, generate new investment ideas, and overcome human biases, AI has the potential to tilt the scales more toward retail investors in the future," eToro's Global Markets Strategist concluded.

The data on growth in newly opened positions on the eToro platform was collected on 4 April 2023 and was conducted by research company Opinium which encompassed 10,000 retail investors across 13 countries and three continents.

AI Enters the World of Retail Trading

Following the tremendous success of ChatGPT, the market is witnessing a growing number of tools utilizing artificial intelligence across various sectors of the economy. Although retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term is still in its infancy when it comes to this technology, several brands have begun exploring its potential.

Among these is Tiger Brokers, the trading brand of UP Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Holding Limited, a leading online brokerage firm catering to Chinese investors. The company has introduced an alternative to the artificial intelligence chatbot ChatGPT, named TigerGPT. As stated in the firm's press release published last Wednesday, TigerGPT is the first AI trading assistant to be released in the industry.

🤖We're super excited to introduce TigerGPT, the industry’s first-ever AI investment assistant!
User testing is now live here, enjoy! We’d also love to have your feedback！
Try now 👉👉👉 https://t.co/H4DWy58TaM pic.twitter.com/UdBVSfQu6u

— Tiger Brokers Singapore (@TigerBrokers_SG) April 11, 2023

Tiger Brokers has capitalized on OpenAI's advanced artificial intelligence capabilities to develop TigerGPT. The investment assistant uses the broker's comprehensive content library and premium source access to deliver quick, informative responses to users. This includes information on listed companies' profiles, financial knowledge, investor education materials, and market and stock insights. By addressing investment-related questions in easily understandable conversations, TigerGPT saves users time and enhances efficiency in pre-investment research.

eToro is also committed to continuous development, as demonstrated by its recent collaboration with Twitter, which aims to become a financial super app under the leadership of Elon Musk.

Since last week, users have had the option to buy and sell stocks and other assets directly through eToro on the social media platform.