Don’t be surprised if you see a Jeopardy question that asks:
“This tool was released to the public on November 30, 2022, sending shockwaves through the financial markets and changing the course of business history.”
Did you say, “What is ChatGPT?”
“The grass withers, the flower fades, but the word of our God will stand forever.” Isaiah 40:8
The Future. Today.
In less than four years, artificial intelligence (AI) has gone from science fiction to something many people use before their first cup of coffee. Whether you currently have an AI agent working for you—or whether you are just getting started, here are a few ideas for pushing the limits.
If You’re Just Starting Out
Think about AI like a conversation, not like a search engine. You can use what’s called the “voice mode” and ask a question without worrying about how to phrase what you’re saying. For example, try asking, “What’s the difference between APR (annual percentage rate) and interest rate?” If an answer feels too technical, say, “Explain it to me like I’m a 5th grader.” Asking questions can help you climb the learning curve. Fast.
Pro tip: Don’t be afraid to ask AI hypothetical personal finance questions. But think twice before entering account numbers, Social Security numbers, or other sensitive personal details.
One You Get Comfortable
Context is everything. Instead of asking AI to “summarize this article,” try “I’m in my early 60s and preparing for retirement. Summarize this article and tell me what matters most to someone in my situation.” The more the tool knows, the better the answer. If you’re at work, ask AI to help with tasks. If you need a power cord, for example, tell AI your computer model, and it will tell you what to buy. Depending on your setup, AI can order the new cord and help you with the expense account.
Did You Know: There are hundreds of no-cost courses from the beginner to the advanced levels available online. Ping us if you want to learn more about what’s available.
Advanced Level
Upload a document, like a mutual fund prospectus or an economic report. Ask AI to summarize the key points. Then, ask AI to argue the pros and cons of what’s in the document. And ask it to draw some conclusions and provide details to support its reasons. Sometimes watching AI argue can lead to some insights that you might not have considered.
Ask AI
Don’t hesitate to ask me about AI and your personal finances. I want you to feel comfortable asking questions like, “How are you using AI?” Or, when we have our next meeting, tell me about how you are using AI. I want to hear about what you are doing.
