ChatGPT vs. Nancy Pelosi. Which would you choose?
The Feds will use AI and do it for us.
Sales executive Clarin Florentyna used ChatGPT when she picked up investing about two years ago.
The bot guided her through the basics, with accurate definitions of key terms such as the intrinsic value of a stock.
When asked for investment advice, ChatGPT suggested setting aside an emergency fund of three to six months, as well as how much to put into bonds, equities and other assets, based on Ms Florentyna’s then monthly income and target returns.
The presentation of such a breakdown made the advice feel more “personalised” than what’s available on finance websites, said the 28-year-old.
It is a sad state of affairs in society when your personal relationships are computers.
But it does show the inherent need for personal relationships and we have lost the art. So..................
BFL
Be careful. I asked ChatGBT while researching opening a High Yield Savings account last month. It gave me several choices but the interest rates were incorrect, usually by .5 of a percent or more.
Certainly one way to tell the Watchers all about your finances.
Not anyone with a brain that is.
Usually ChatGPT just uses information gathered from the Web.
Add a rubric for research.
You can even ask ChatGPT, Groc and Gemini to help you customize a rubric for a specific research project.
Very short rubric:
Before answering: create a private 5-7 item rubric for excellence on this task.
Draft your answer, then self-critique against the rubric and retake until it passes.
Keep the rubric and critiques internal. Only show the final, best version.
If uncertain, generate one internal alternate and choose the stronger result.
Stop as soon as all rubric criteria are met at a high standard.
I wouldn’t trust any AI to give advice—especially investment advice.
AI doesn’t truly understand concepts like good vs. bad. It only “knows” what it has been trained on, and that information is limited to the quality and scope of its source material.
From my experience using ChatGPT, there’s a lot missing from its “memory.” While it might offer advice that sounds good, it’s only as reliable as the data it’s built on—and that data isn’t always complete or current.
At the end of the day, any advice it gives is based on programmed input. And as the old saying goes: GIGO — garbage in, garbage out.