Using AI For Our Prosperous Future – Episode 496

This transcript was auto-generated and may contain errors.

[00:01] Welcome to the Prosperity Podcast. Prosperity thinkers, today we’re going to be talking about innovations that are happening in the world. And this is something I’m bringing to chem because I’m a nerd. And I like this kind of stuff. And it’s something that actually applies to all of our lives. And we’re talking about open AI and innovations inside of technology that are unfolding. We’re talking for me, at least this is like holding the first iPhone in your hand. It’s that big of a step. So chem, let’s start at the baseline and talk about what you know of this. And then I’ll share a few things and then we’ll talk about where this applies to our lives. Awesome. So AI, artificial intelligence, is a space that is just learning and growing.

[00:46] I’ve been following it since I can remember Peter Diamandis is my favorite speaker on the subject. And Todd and I go to the Consumer Electronics Show every year and it has AI environments in it. And I love what it’s doing because of its ability to learn. And there’s definitely concerns and things that could be negative about it in a business way and in our personal lives. But I believe, and I believe very strongly that the good outweighs the bad. And one of the Peter Diamandis quotes that I love is more reflective of privacy than AI in particular, but it’s still very apropos. And that is that it will shine a light so bright that the good guys won’t be able to hide anymore. And so with artificial intelligence and the chat bots and the copywriting, those

[01:45] are the two areas that I’m the most interested in. Excellent. Yeah. So let’s talk about the chat bots and let’s talk about those different pieces that are happening right now. So to kind of bring in where we’ve been and then where we’re going may be helpful. One of the leaders in that technology is called OpenAI. And this is not necessarily a tech episode. This is very much related to prosperity because I own a company that has developers and we create things. And so that’s why I’m forward thinking in this. Where we’re at right now is we’ve used OpenAI and we have chat bots that we’ve all been able to put in data and it spits back something to us. Where we’re at now is a lot more detailed in the context.

[02:34] And so what’s happened is there’s another tool called character.ai and it’s built on that same platform where, for example, you Kim, we will soon have this where there’s the Kim bot and it will read all of your books. It listens to your voice and it knows how you think and how you speak. So then we can now go and we can ask the Kim bot how you would answer a question and it answers in your context. That’s amazing. We’re there. I’m so excited about that because information as a point of fact is only so good. It needs wisdom along with it. And wisdom is the paragraph answer, not the one sentence answer. And that’s why I write the books is because there’s time in the books to flesh out the truth, which takes a paragraph to answer.

[03:33] It’s not a one sentence soundbite. And so I believe that these bots will help us provide information to people in a way that they can assimilate because not everybody likes to read books. Absolutely. And so we take that context and we go even deeper. So now we have the context of it, you know, creating the model, understanding how you think, how you act, being able to query that. Where we will be very, very soon and a few developers are here right now. The most amazing one I heard was a developer lady. She wrote in her journal as a teenager and she was great at writing in her journal and she selected several different entries when she felt she was most happy. She took those entries. She had them transcribed, put into text.

[04:25] Now she created a model from that. So then what she did is she started to chat with her AI self when she was most happy. And she said, hey, how would you make this decision about my career? And it gave her career advice as her most happy self. So think from a legacy perspective, grandparent creates the wealth. They put in the grit. They did the hard work. They have the principles. They set it up for second generation. Third generation comes around. Third generation is a little bit distanced from it. Well now third generation can get advice from first generation. That’s pretty cool. That is cool. And the decisions that are made when we are thinking from a prosperous standpoint, when we are happy, are different than the decisions that we make when we’re in a different

[05:18] space. So yeah, I am super excited about where we’re heading with this. Absolutely. Where it’s going to apply and change things is in every single industry. So some of the examples that I’ve read, venture capitalists went through and said, okay, I want to merge company one with company two. What would that merger look like? The AI went through and explained in detail, you know, 10 paragraphs. This is what the structure should look like. This is how you should negotiate the deal. So then I saw another one in the fitness world. A gentleman said, okay, hey, I want to lose 10 pounds in the next four months. So I have a caloric excess right now. I need to lower my calories. So he chatted with the AI and said, I want to lose those 10 pounds.

[06:07] These are the foods that I like. This is how much exercise I’m willing to do. Will you create a shopping list of the food that I need to eat, the recipes, the workouts? And it does it for him. Amazing. That’s where it’s so cool. So where it may be from an unprosperous thinker. If I weren’t having this conversation with you, if I was having this with a different financial advisor or financial planner or anyone in that financial industry, they may sit there and be scared thinking that they’re going to be out of a job. An attorney may be thinking they’re out of a job. Kim, why do you feel like you’re not going to be out? Because as personalized as the AI can get, all that’s going to do is enable

[06:53] us to help more people. And then the AI still needs to be tweaked, to be continually educated, to have nuances explained. And there are so many human elements that get added to a financial decision, for example, that have nothing to do with the math, that the AI is going to need an interpreter. And that will be our role. That is awesome. The reason why I ask that question, Kim, to you is because as deep as I am in the AI world, you’re your own unique architect, the way that you see it with your prosperous thinking. And it’s similar to conversations we’ve had. You can ask the AI, should I get a 15-year or 30-year mortgage? But they might not take into account the second-order effects, which you

[07:46] know from your years of working. But on top of that, and this is for listeners, and this is me just understanding, I’ve known you for years, and you’re on the edge of your seat with technology. Now, you’re not a developer, but you’re saying, this is going to make us better, we need a part of that. That is the unique thing that you have, that you bring to the table. Well, thank you for that. I’m grateful, and I am so excited about the future. And I do read about it a lot and think about how we can apply it and make use of it and pull the prosperous elements out of the technology that we know is going to be a part of our future, like it or not. Yes, absolutely. So I have a call to action for you as a listener.

[08:36] So we don’t have the Kim bot created yet. Maybe at some point that’ll happen. But there are probably some second order effects type of questions that you have out there. So for example, a 15 year versus 30 year mortgage, that’s a very, you know, Googled type of question. But Kim, you’re able to look through and say, have you thought about the other piece? So my call to action is send an email to hello at prosperity thinkers.com about your deeper questions, your second order effect questions. So if you’re saying, Hey, I want to do this for my family, but I’m really not sure how it’s going to affect another part of my business, my life, other generations. That’s the question that the Kim bot or Kim human right now can answer.

[09:25] Does that sound like a fun game, a call to action? I love that. And we’re grateful right in advance, very proactively grateful for our listeners that provide those questions that then help us get better and in time we’ll help the bot get better as well. Perfect. Hey, thank you for listening to this episode and being a part of the podcast. Thank you for listening to the prosperity podcast to take control of your money and have it work for you. Visit prosperity thinkers.com