It’s been nearly 40 years since the terminator debuted in 1984 & while Arnold Schwarzenegger isn’t likely to show up at your doorstep with a leather jacket, you may be shocked to see just how far we’ve come in advancing the capabilities of AI.
Just this month Microsoft pledged $10 billion dollars to a leading artificial intelligence media generation software company, OpenAI. Essentially, you can give the software any prompt your heart desires and it will generate viable, coherent, and down-right impressive responses in the form of art, photographs and even written content. To illustrate the power of the platform, I thought I would let it write this month’s Buckhead Capital blog post. Read below and ask yourself honestly, “would you have been able to tell this was written by a computer prompted by a single question?”
THE PROMPT:
Write a blog about financial decisions to make each new year.
THE RESPONSE:
As the new year approaches, it’s important to take the time to reflect on your financial goals and make any necessary adjustments to your plan. Here are a few financial decisions to consider making each new year:
- Review your budget: Take a close look at your income and expenses to see where you can cut costs or increase savings. This will help you identify areas where you can make adjustments to reach your financial goals.
- Set new financial goals: Whether it’s saving for a down payment on a house, paying off credit card debt, or building an emergency fund, setting new financial goals for the upcoming year will help you stay motivated and on track.
- Revisit your investment portfolio: As the market and your personal financial situation change, it’s important to reassess your investment portfolio to ensure it still aligns with your goals and risk tolerance. Consider reallocating assets or making changes to your diversification strategy.
- Maximize your retirement contributions: Take advantage of any employer matching contributions and increase your 401(k) or IRA contributions as much as possible. The earlier you start saving for retirement, the more time your money has to grow.
- Review your insurance coverage: Make sure your insurance coverage is still adequate and that you’re getting the best rates. Review your health, auto, homeowners, and life insurance policies to ensure they still meet your needs.
- Review your credit report: Check your credit report annually to ensure that there are no errors and to check for any signs of identity theft. By keeping your credit score high, you’ll be in a better position to qualify for loans or credit cards with favorable terms.
By taking these steps each new year, you’ll be better equipped to reach your financial goals and achieve financial stability. Remember to be patient, stay focused, and always have a long-term perspective.
Impressive, is it not? Quite frankly, all the suggestions are sound advice, and the composition is great as well. The future of artificial intelligence and how it will affect our society is uncertain. It seems clear that it will replace manual human input in countless fields and industries – in many places, it already has (Siri, Alexa, Customer Service Software, Self-Driving Cars, etc.).
While I am neither a philosopher nor a scientist, and cannot provide you with any empirical proof, I believe that the human element will never be truly replaced. Since humans began putting pen to paper (or even stick to cave wall) there have been constant predictions of our Doomsday – and so far, we’re undefeated. Here’s to the belief Skynet won’t be any different.
P.S. As soon as AI can do my taxes (without my help), I say we hit the brakes there.
