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Time for today's write up. 👌

Quote

"AI is awesome until it does your job better than you, for free, instantly. Then it becomes frightening." - Alex Hormozi

Almost Intelligent

Topics for this write-up.

• What is AI

• Example of AI

• Where AI Sucks

• 3 Industries to Benefit

The Background

AI stands for artificial intelligence. According to Investopedia AI "refers to systems or machines that mimic human intelligence to perform tasks." This can be everything from the self-driving capability in a car, to the auto-correct you use before sending that project proposal to your boss.

To sum it up. If there is a task that can be done by a human, there will likely be an AI software or machine developed to do it in the future. It's kind of scary. Think of a robot that learns on its own, has unlimited memory, and never makes the same mistake twice (and you thought terminator was sci-fi).

While we are far from "perfect" AI as previously mentioned, we are starting to see the beginnings of it today.

Example of AI

One of the most recent examples of AI that made a name for itself overnight is ChatGPT. This is an AI chatbot designed to give you detailed answers on anything that might come to mind.

Chat GPT added 1m users in less than 5 days. How crazy of an achievement is that? Compared to other platforms like Facebook and Instagram which took 10 months and 2 years to reach 1m users, it's extremely impressive.

I spent some time playing with it and included a few of my favorite examples below.

"Write 5 tweets on investing."

Code? No problem.

"How do you center text in HTML code?"

For the WWII history nerds, you likely knew this week was the anniversary of Japan's attack on Pearl Harbor. In case you weren't though, and your history teacher gave you a homework assignment Chat GPT has you covered.

You can stump Chat GPT with in-depth questions. Especially when asking for financial/numerical data the bot struggles. It's not foolproof (see ChatGPT fails in the meme section). We also have to remember that this is just one AI bot.

Rumor has it there is a new personal finance platform coming out soon. This bot will answer any question you have based on your spending, income, age level, etc. I'll be sure to keep you in the loop once I know more.

Where AI Sucks

So are we all about to lose our jobs and live in a world run by Wall-E? Not quite.

There are a few areas where AI still falls short.

First, it has no personality. For example, let's take the 5 tweets generated by Chat GPT above. Number 2 said, "Diversify your investment portfolio to minimize risk and maximize potential gains. Don't put all your eggs in one basket."

Not bad, but this sounds like 75% of "Money Twitter" accounts (shots fired). AI can make content, it's just bland and boring at the moment. Think of R2-D2 from Star Wars. Clever, goofy, and understands sarcasm. That's the AI that worries me.

Second, AI has no skin in the game. Chat GPT will give you answers that are incorrect and won't admit when it might be wrong. To the novice asking a question, it's dangerous to assume everything you read from a bot is 100% right. For example, I wouldn't trust Chat GPT with directions on how to pack a parachute.

Third, the ability to read a situation. Say you are going to answer a question. Think extremely simple. What is the answer to 5 x 5? This seems straightforward, but what if it was your 2nd-grade cousin asking?

Your answer would have a different tone with additional details than if it was asked by your redneck uncle.

Three AI Investments

There will be money to be made investing in AI. Here is a quick list of three industries that should be heavily involved.

Software & Hardware - Your big companies like Nivida, Microsoft, and Amazon will obviously play an important role in the next generation of AI. Software, cloud computing, and hardware for new systems will likely run through these tech giants somehow.

Cyber Security - The last thing we need is AI technology getting hacked and used against us. I'll be honest, I'm not very inclined toward cyber security companies so I'll leave this one up to you to dig deeper.

Logistics - Humans are currently used for many repetitive tasks in manufacturing and logistics that require basic decision-making skills. Sorting products, quality control, shipping, and packing items. While automation is already showing it's value in this industry AI could take that to the next level.

Conclusion

It's dope to see platforms like Chat GPT take the internet by storm. While AI still has a ways to go, it doesn't take a genius to see the impacts long term.

Also if you are worried about your job I think Matthew Kobach said it best.

Basically, we don't have to worry about AI taking over the world quite yet. That's a problem for the next generation.

Thanks for reading, Cade.

Cade's Finds

Topic Recap - Youtube episode from the All In Podcast covering the latest FTX drama, the future of AI, and the events in China.

The Art Of Doing Nothing - Newsletter written by my friend Sam showing the similarities of blocking a penalty kick and being a boring investor.

Use Chat GPT Yourself - Here is a link to Chat GPT. Creating an account is free. See what all the bustle is about.

Best Memes

Chat GPT can be dumb.

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Nothing in this email is intended to serve as financial advice. Do your own research. Thanks for reading, if you have any questions, comments, suggestions, etc. about the email send me a DM on twitter. See you soon!