420- The Good, the Bard, and the Ugly

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Investing, Business

4.6 • 1.6K Ratings

🗓️ 30 May 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In 2023, it seems like every other week has seen a new AI tool pop up and have its 15 minutes of fame. From image generation to chat functions and voice replication, the public eye has never been more fully focused on artificial intelligence. Is the latest wave of machine learning composed of actual breakthroughs, or have users been fooled by elaborate systems of smoke and mirrors? Knowing the risks of involving artificial intelligence in the investing process is a tricky challenge to navigate, and one that seems to grow more complicated every day. This week on InvestED, Phil and Danielle turn their sights back to AI and talk through the potential implications of computer brains and their effects on the financial world. If you prefer a more traditional technological approach to your investing journey, click here for your Rule #1 Calculators for Investing Analysis: https://bit.ly/42dBHSn Topics Discussed: AI hallucination Resources Discussed: Bard ChatGPT BloombergGPT The Intelligent Investor Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Kraken Pro. Meet Kraken Pro, rebuilt from the ground up to give you the advanced crypto trading tools you need, all in one place.
0:09.5	Switch instantly between spot, margin and futures trading, then track your performance on a fully customizable interface.
0:16.0	It's Kraken's most powerful trading platform. Well, ever.
0:20.0	Head to pro.krakken.com and trade like a pro.
0:23.0	Cryptocurrencies are unregulated in the UK.
0:25.0	Profits may be subject to capsule gains tax and the value of cryptocurrencies can go down or up.
0:40.0	Hey everybody, this is Phil Town. And this is Daniel Town.
0:43.0	Welcome to the invested podcast y'all. We're excited to be here giving you a little, little southern flavor there.
0:50.0	Nice y'all. Yeah, we have been dealing with it feels like the world does not want us to be able to record this today. So I'm excited that we're doing it.
1:02.0	And I'm pretty sure that we're probably going to end up saying really useful things.
1:07.0	Yeah, because it tends to happen or it could be totally waste of time. Who knows.
1:13.0	We thought since we pretty well wrapped up the Berkshire meeting.
1:17.0	Indeed.
1:18.0	We'd move on to a subject that is on everybody's mind out here is not everybody's, but the impact of AI with the release of artificial intelligence with the release of chat GPT from a partnership between open AI and Microsoft.
1:39.0	And the very recent release of Bard from Google have stirred things up quite a bit. And when when chat GPT was released at the end of last year, it caused the CEO of Google to say we are on red alert.
1:57.0	This is just this is a potentially damaging competition.
2:02.0	And we're now on red alert and we're going to do everything we can to catch up.
2:07.0	And I think it's the fact that the Microsoft released this thing to try to drive people over to bang their search engine.
2:17.0	We're going to draw Google to release Bard prematurely.
2:22.0	And the result is fascinating what we've got out here right now.
2:26.0	Yeah, I mean, we're not obsessed with this or anything, although it probably comes off that way because we keep on doing podcasts about it.
2:32.0	But Bard just came out and I've been working on getting some actual info, which just still again hasn't happened yet.
	...

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