Investment case "Artificial Intelligence
One or the other may have seen my post shared below, which I published in the night from Sunday to Monday here on getquin ( @Staatsmann : So Better?) published. In it I, the anti-finfluencer donkey, shared a guide on how to become a successful finfluencer. But did I really?
The post was published by me on getquin, of course. However, I am not responsible for the content. I had these written by an artificial intelligence, ChatGPT to be precise. @Lorena and @MScottInvesting had already shared posts about this in the last weeks. I asked ChatGPT (in English) how to become a successful Finfluencer. ChatGPT answered my question with the 5 points mentioned in my post. I then asked ChatGPT for more details on each of the points. I then copied these together and had the post.
Well, almost. The answers to my altogether 6 questions repeated themselves partly, why I had to shorten in the one or other place. For example, ChatGPT also recommended for credibility to include the structure of the expertise with some details (which is correct in principle, but reads strangely when in the post just before it was already discussed in detail). I removed the details and referred to the previous section instead. Otherwise I replaced LinkedIn by getquin. But that's it as far as content adjustments are concerned.
Also, the post was in English until then. Since most of the community is German speaking, I decided to translate the text. Actually, I decided to have the text translated. And this was done by an artificial intelligence. DeepL. I still had to correct some small things. For example, I had to change the form of address from "Sie" to "Du" or choose better wording in a few individual cases. In addition, DeepL often spoke of my "audience", which I then rather changed to "followers". All in all, however, it was a manageable effort. Besides, everyone would have understood the text without this rework.
All in all, this relatively extensive article was created within about 20 minutes on the cell phone and required no research. Impressive. Especially since no one noticed it, obviously. Only @InvestmentPapa had perhaps a suspicion, a few other users, like bspw. @DividendenWaschbaer , probably at least wondered about the topic and again others interacted with the post as they do with any of my other posts.
For me, reason enough to highlight the topic of AI, also as an investment case, in this post. But let's start short and sweet with a technical definition of the term.
What is artificial intelligence anyway?
Artificial intelligence (AI) refers to the ability of a machine or computer system to perform tasks that normally require human intelligence, such as understanding language, recognizing patterns, learning, and solving problems. AI systems can be trained to perform a wide range of tasks, including language translation, image recognition, and decision making.
What is the difference between an algorithm and an AI?
An algorithm is a set of instructions that a computer follows to perform a task. Algorithms are used to solve problems and perform tasks in a variety of fields, including computer science, mathematics, and data analysis.
AI systems often use algorithms to perform their tasks, but they go beyond these simple, rule-based systems by using techniques such as machine learning to adapt and improve their performance over time. AI systems can learn from data and experience and adapt to new situations and environments. Algorithms tend to be static.
These basic definitions should suffice for our purposes. Let's move on to the really relevant questions:
Will AI play an important role in the future?
It is difficult to predict the future with certainty, but it is likely that AI will play an important role in many areas in the future. AI has already made significant progress in fields such as natural language processing, image recognition, and machine learning, and has the potential to revolutionize many other areas as well. However, it is important to note that AI is only one technological aspect and not the only factor that will shape the future. It is likely that other technologies such as the Internet of Things (IoT), 5G and quantum computing will also have a significant impact on the future.
In what areas is there potential for AI to revolutionize life and work?
There are many potential applications for AI, including:
- Healthcare: AI can be used to analyze medical images, aid in diagnosis and predict patient outcomes.
- Transportation: AI can be used to improve the efficiency of transportation systems and develop autonomous vehicles.
- Finance: AI can be used to analyze financial data and make market forecasts.
- Education: AI can be used to personalize learning and help students learn at their own pace.
- Manufacturing: AI can be used to optimize production processes and improve factory efficiency.
- Agriculture: AI can be used to optimize crop yields and improve farm efficiency.
- Customer care: AI can be used to handle routine customer inquiries and provide personalized support.
- Security: AI can be used to detect potential threats and improve the security of networks and systems.
- Entertainment: AI can be used to create personalized content and recommendations for users.
- Environmental monitoring: AI can be used to monitor the environment and predict and mitigate the effects of natural disasters.
How can AI outperform humans in these areas?
AI has the potential to be superior to humans in certain tasks because it can process and analyze large amounts of data very quickly - and continuously, without fatigue. In some cases, AI can also be more accurate than humans, especially in tasks that require a high degree of precision.
In healthcare, for example, AI can analyze medical images and detect patterns that are invisible to the human eye. This can help doctors make more accurate diagnoses and recommend treatments. In transportation, AI can analyze traffic patterns and predict the most efficient routes for vehicles, which can help reduce congestion and improve the efficiency of the transportation system. In finance, AI can analyze financial data and make predictions about market trends, which can help investors make more informed decisions.
However, it should be noted that AI is not always superior to humans and that there are many tasks that are better suited for human intelligence and creativity. It is also important to consider the ethical implications of using AI and ensure that it is used in a responsible and transparent manner.
Enough rambling. Now how can I invest in AI?
There are many ways investors can profit from AI, including:
- Investing in companies that develop or use AI technologies: Many companies are integrating AI into their products and services, and investing in these companies can provide exposure to the growth potential of AI.
- Investing in AI-focused funds and ETF: There are a number of AI-focused funds and ETFs that allow investors to invest in a diversified portfolio of AI-related companies. Personally, however, I would advise against this as you are potentially putting too many rotten eggs in your nest.
- Incorporating AI into investment strategies: some investors are using AI to analyze data and make investment decisions or to identify companies that are likely to benefit from the adoption of AI.
- Staying informed about the latest developments in AI: It is important for investors to stay abreast of the latest developments in AI, as this can help them identify new opportunities and make informed investment decisions.
Which companies are using AI or offering AI as a product?
- Google is a leader in AI research and development and has a number of AI-focused products and services, including Google Search, Google Maps and Google Translate. $GOOGL
- Amazon uses AI in a number of its products and services, including Amazon Web Services (AWS), which provides cloud-based AI tools and services for businesses. $AMZN
- Apple uses AI in a number of its products, including Siri and facial recognition technology. $AAPL
- Microsoft has a number of AI-focused products and services, including its Azure cloud platform and its Cortana virtual assistant. $MSFT
- NVIDIA is a leading provider of graphics processing units (GPUs) used in many AI applications. $NVDA
- IBM is a leader in AI research and development and has a number of AI-focused products and services, including Watson, an artificial intelligence platform. $IBM
- Meta uses AI to improve the user experience on its platform and to detect and remove inappropriate content. $META
- Baidu uses AI in its search engine and for autonomous driving, among other things. $BIDU
- Salesforce uses AI in its CRM platform to help companies better understand and engage with their customers. $CRM
- OpenAI is a research institute that advances the field of artificial intelligence. OpenAI developed ChatGPT and Dall-E 2. OpenAI's tools generated, for example, my profile picture and the text "How to become a successful Finfluencer." Unfortunately, the company is not listed on the stock market.
What? OpenAI is launching one after the other and I can't buy shares from them? Are there at least AGs that use OpenAI's products?
OpenAI is a research institute that develops AI technologies and publishes its research results, but does not offer its own products or services that you can buy. Therefore, it is not possible to invest directly in OpenAI. However, many companies use the research and technologies developed by OpenAI or incorporate them into their products and services.
For example, OpenAI has worked with Microsoft to develop GPT-3, a natural language processing AI model that is used in a number of Microsoft products and services, including the Azure cloud platform and the Cortana virtual assistant. OpenAI has also collaborated with other companies, including OpenAI LP, a company formed to commercialize technology developed by OpenAI.
Overall, though, very impressive. Can I try this out for myself?
Sure you can. After a free registration you can ask https://openai.com/ ChatGPT and have your own posts generated for getquin. Or you can have a nice new profile picture drawn with Dall E 2. Also the translation of your generated posts from English to German is free on https://www.deepl.com/ possible.
Conclusion & Sources
In case you haven't guessed yet: Large parts of this post were again written by ChatGPT, translated by DeepL and only fine-tuned by me.
Who of you had the suspicion that this post in parts and the post "How to become a successful Finfluencer" were almost completely created by an artificial intelligence?
In which areas do you see great potential through artificial intelligence ?
And for our Finfluencer (bspw. @Boersenape , @Aktienfoxx , @Dividente and @MitVerstandzumKapital ): Are you worried about AI destroying your jobs as content creators, or do you find it more exciting to use AI to make your jobs easier?
Finally, if you'd like to contribute to getquin yourself, here are a few topic suggestions from ChatGPT that might be interesting for a financial community like getquin:
- How is the current economic environment affecting financial markets and individual companies? This could include topics such as interest rates, exchange rates, and inflation.
- What are the latest trends in financial technology (fintech)? This could include topics such as blockchain, cryptocurrencies, and artificial intelligence (AI) in finance.
- How can investors diversify their portfolios to manage risk? This could include discussions on asset allocation, investment strategies, and risk management techniques.
- What are the implications of recent regulatory developments for the financial industry? This could include discussions about changes in financial regulations and their impact on companies and investors.
- How can individuals manage their personal finances and achieve their financial goals? This could include topics such as budgeting, saving and investing for the future.
- What are the latest trends in sustainable and impact investing? This could include discussions about investing in companies that have a positive impact on the environment and society, as well as considerations of ESG criteria.
- How can individuals and businesses effectively manage their taxes? This could include discussions on tax planning strategies, changes in tax laws, and tax optimization techniques.
