The Good, the Bard, and the Ugly | InvestED Podcast | Episode #420

In 2023, it appears like every other week we have actually seen a brand-new #ai tool appear and have its 15 minutes of fame. From image generation to chat functions and voice replication, the general public eye has actually never ever been more totally focused on artificial intelligence.

Is the latest wave of machine learning composed of real advancements, or have users been deceived by sophisticated systems of smoke and mirrors? Knowing the threats of involving expert system in the procedure is a challenging obstacle to browse, and one that appears to grow more complex every day.

Today on InvestED, Phil and Danielle turn their sights back to AI and talk through the prospective ramifications of computer brains and their effects on the financial world.

#chatgpt # #finance
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The Good, the Bard, and the Ugly | InvestED Podcast | Episode #420

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About the Author: Richard Money

10 Comments

    1. Just having fun. All of Phil’s (and Danielle’s) stuff is great. They have totally redeemed my investing style.

  1. I highly recommend first reading the postscript of the Intelligent Investor, you can have a long discussion just on those two pages of the book.

  2. For the question about what the AI do to know about your last question, it is not that it learns from you (current projects try to avoid that as much as possible because is really dangerous IE people can fill wrong information on purpose).

    So what it does is that every time we ask them, the AI just process all of the conversation again and again so every new question for the AI is just a new question but with all of the conversation as a context within the new question.

    Regarding how it makes up something after saying “I apologies for my mistake” is that AI models can be configures to be “creative” and the less creative the less “hallucinations” but that also means less useful to find data within a lot of information (which in fact is also useful if we are using it for really narrowed pieces of information and indeed we need less “hallucinations”).

    Btw the level of “creative” is something that can be set when using it for development (their APIs), while chatGPT and most end users interfaces already have set the level of creativeness they are confortable with.

    Hope that helps!

  3. I was followed AI news since 2017, because then it became obvious that this technology will change everything.

  4. Wasn’t it Mark Twain?
    “What gets us into trouble is not what we don’t know, but what we know for sure that just ain’t so.”

  5. I’ve been on Bard for a while. I signed up for it when it was still in Beta. I actually like it a lot. It is a language model, so I do find that it sometimes gives wrong answers. But when I push back, it corrects that answer and eventually gets it right. I also believe as it’s used, it will get more accurate, and will be able to better judge sources for the most accurate information. However, it is still a language model. It is better for creative tasks. I’ve really enjoyed getting into logic debates with it, eventually getting Bard to admit that I’m right.

    If you watched the Google I/O, the more interesting things in AI will be with art, with coding, with photography and film, etc. etc. Google is so far beyond microsoft, it is not even funny. One friend of mind even said, everything we know about Google and AI is probably 5% of what they actually have. The majority of their AI is going to be used to help Google, internally, not something for us to use.

  6. I also do find that if I ask for ROE, ROIC, ROA and ROCE information on a company, it gets me that information quickly and accurately. It’s saved me a lot of time.

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