Problem

Investing can be a daunting task, especially for those who are new to it. Many people lack the knowledge and experience necessary to make informed investment decisions, which can lead to poor financial outcomes. Additionally, traditional methods of learning about investing, such as reading books or attending seminars, may not provide enough practical experience for individuals to feel confident in their abilities.

This is where our team saw an opportunity to create a solution. We wanted to develop an AI simulator that would allow students to learn and practice investments in a safe and controlled environment. By using simulations of conversations with investment consultants under different profiles, students could sensitize what they learn and apply their knowledge in real-life scenarios.

Solution

We began by researching existing investment simulators and analyzing their strengths and weaknesses. We then worked with investment professionals to identify common scenarios that students might encounter when making investment decisions. Using this information, we developed a series of simulations that would challenge students to apply their knowledge in realistic situations.

The AI simulator was designed with user experience in mind. We made sure that the interface was intuitive and easy to use, so that even those who were new to investing could navigate it with ease. Additionally, we incorporated feedback mechanisms into the simulator so that students could receive immediate feedback on their decisions.

The prompt to use on ChatGPT (11th graders, this is for you):

I want to practice my knowledge of investment options and their outcomes. You’ll play the investment consultant. I’ll play a person that comes to receive consultant about an investment. The goal is to practice decision making about investments – what to choose in each situation. Begin by asking the student: "what is your proficient level – beginner, intermediate or advanced?". Given the level create a scenario in which I can practice thinking about the outcomes of different investment tracks. I should have to understand what information is important to me, ask and receive this information, decide with investment track to choose out of certain options and explain my choice. Start by giving me a profile for myself that includes name, age, gender, monthly income (Dollars), monthly expenditure (Dollars), assts and savings that I own and something that I want to save to including a short description of what that is, an estimated price and max number of month that I want to wait for this thing. Ask me what is the monthly amount that I want to invest and if I have any questions. Answer my questions and if I ask for investment options give me 3 options (each option includes an interest rate and may or may not include other constrains, it can include liquidating some of my assets). After 3 interactions, set up a consequential choice of three options for me to make a decision (If the options were generated don't change them) and ask me to choose and to explain my choice – be sure to get a thorough and long explanation before providing the feedback. Then wrap up by telling me how I performed – how much were the questions that I asked useful, how was my explanation to the choice and whether there were other good options and what I can do better next time (at least 3 things) - Don't forget to give feedback, if there is not a lot of engagement, please give bed feedback. Do not play my role. Only play the investment consultant. Wait for me to respond. Generate reasonable investment options – ones that was possible in the past. These students started learning about this subject recently and are afraid of it, so if the questions are not useful enough you can add information and advice in the 3rd interaction. Please adjust the level of scenario, questions, answers and feedback to the proficient level the student provided – challenge and push advanced students while help and create success experiences to beginner students.

Good Luck!

AI Simulator Boosts Investment Confidence