PUMPChat is a crucial new component within our PUMP 2.0 social analytics platform. PUMPChat is based on a concept similar to the widely-known ChatGPT but has a number of features that make it more effective and relevant for investors, traders, financial analysts, and journalists covering a variety of financial markets. In this article, we take an in-depth look at PUMPChat and compare it with the ubiquitously famous ChatGPT from OpenAI.
What is PUMPChat?
PUMPChat is a generative AI chat tool that is integrated into our PUMP 2.0 social media analytics platform. PUMPChat has been trained extensively on finance-specific content and, therefore, is capable of producing much more accurate and nuanced output than ChatGPT when it comes to finance-related information.
PUMPChat’s development was finalised by us a few weeks before the launch of PUMP 2.0, and the tool had been available as a standalone product before we unveiled PUMP’s new version. Starting with PUMP 2.0, which was launched last week, users now have unlimited access to PUMPChat as part of the overall package.
PUMPChat uses our customised generative AI technology that leverages both OpenAI’s GPT-4 model and Meta’s Llama 2.
PUMPChat can act as your financial advisor or assistant to summarise information, gain insights, and even generate descriptive reports on a wide variety of financial assets, including cryptocurrencies, equities, commodities, and more.
PUMPChat vs ChatGPT
PUMPChat has a number of significant advantages over ChatGPT for the needs of users analysing financial markets. The key advantages include:
1. Thanks to being extensively trained on finance-specific data, PUMPChat is capable of providing financial insights more accurately than ChatGPT. While ChatGPT is a great general-purpose generative AI tool, it has never been designed specifically for financial markets.
2. PUMPChat is more efficient at using computational resources, making it faster than ChatGPT under the same conditions and query types.
3. PUMPChat has a more powerful context window than ChatGPT. In other words, PUMPChat is capable of remembering past conversations with the user better than ChatGPT.
4. Importantly, PUMPChat has been designed to cross-verify the output it produces with a range of databases for social media posts, news, and accounts that we maintain and regularly update. Our special vector database gathers information from a wide range of social media sources and acts as an important validity check mechanism for PUMPChat. The vector database is continually updated.
One of the key deficiencies of ChatGPT that many users note is the tool’s lax attitude to the factuality of the information. This is unsurprising given the fact that ChatGPT was never intended to verify the factual correctness of its output.
ChatGPT, as a standard generative AI tool, is based on NLP algorithms that predict the sequence of words in a sentence. There is no information validity check within ChatGPT, nor was it ever intended by OpenAI.
In contrast, PUMPChat produces a much more factually valid output thanks to the cross-verification with our databases.
5. PUMPChat’s key NLP model, Llama 2, is continually updated and improved by us with new financial data on a monthly basis.
6. Unlike ChatGPT, PUMPChat is capable of analysing non-textual input like images and videos in great detail.
PUMPChat is a major addition to our platform’s functionality. It can help you gain valuable insights, save time, and brainstorm trading and investment ideas. In addition to its usefulness for investors and analysts, it can help journalists and financial influencers on social media quickly generate relevant news-based and social sentiment-based content. In the world of finance-specific generative AI, PUMPChat is a true revolutionary disruptor.
To get access to PUMPChat, visit www.zenpulsar.com/pump and sign up for PUMP 2.0, which gives you unlimited access to the chat tool in addition to the numerous other benefits available within the platform.