I was told that there might be legal aspects that I'm not aware of so I'm asking this question.
Since late November two AIs I've built have been generating predictions about stocks found on the NASDAQ. I've been publishing these predictions and their results on a simple WordPress site.
Looking around I see multiple people appending predictions with statements such as "Please do your due diligence". Doing a little research, I found that it is because they believe that there are legal ramifications to providing finical advice and that this line will absolve them of any legal responsibility.
I would like to know if:
a) These people (people who make predictions) are correct to fear that others (complete strangers) might make a financial decision based on the prediction (or some action) and then take legal action against them (the person who made the predictions).
b) If the above is true. Does adding the line (or variation) "Please do your due diligence" absolve them of legal responsibilities or is it as effective as a "Sovereign citizen" defense. I know of no known case where this defense worked. AKA: For a chance of success in court do not use this defense.
At the end of the day, I want to learn and create AIs and share my experience and growth in this field. The stock market is easy in terms of access to data and the ability to validate predictions (easier than building a chess AI). Because I chose this field it seems that I need to do some due diligence and figure out what is my legal exposure.
On my site, in the about section, it does describe that my project is a learning experience for me.
Added info in case it helps: I'm in Canada and the AIs are predicting stocks on the NASDAQ.