"Some tasks that demand Herculean cognitive effort from humans are trivially easy for AI systems, which are designed to detect and replicate complex patterns gleaned from enormous troves of data. The technology has already scored top marks in world-class competitions in mathematics and coding; soon -- according to the vision of some developers -- help human researchers make new scientific discoveries."
"Previous studies had demonstrated that AI could pass the CFA Levels I and II exams, but it struggled with the third and final (and most difficult) phase. The Level III exam, designed to test candidates' ability to apply their knowledge of portfolio management and wealth planning to hypothetical real-world scenarios, includes a set of multiple-choice as well as essay questions."
Twenty-three industry-leading AI models from companies including Google, OpenAI, Anthropic, Meta, xAI, and DeepSeek were evaluated on a mock CFA Level III exam. Frontier models succeeded in passing the exam, which combines multiple-choice and essay questions to measure analysis, synthesis, and professional judgment in portfolio management and wealth planning. Prior demonstrations showed AI could clear CFA Levels I and II but struggled with Level III until now. The AI performance narrowed the gap with skilled human financial analysts and illustrated rapid capability gains on complex, applied cognitive tasks.
Read at ZDNET
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