Milan Cacic
December 19, 2022
Money Financial literacy Economy Lifestyle Good reads Commentary In the news Weekly update Weekly commentaryARTIFICIAL INTELLIGENCE, THE GIFT THAT KEEPS ON GIVING!
Many of you may have been reading about some of the new AI technology that is out there. While doing some research, I came across ChatGPT (chat.openai.com) which is a trained artificial intelligence chat model that works for conversations and it takes direction. It is currently in beta. One of the goals of these AI chat bots would be to be used as a personal assistant. It would learn your habits well enough that it could respond to any inquiries from your friends or business associates without you having to be involved at all. It may also anticipate what your needs are and prepare things for you before you even ask for. I know this sounds strange but it's coming fast and will create a lot of disruption and opportunity!
For fun, I inputted into the AI chat model exactly the following "write a poem about investing after a down year to T’was the night before Christmas" the following is what it produced within seconds:
“'T’was the night before Christmas, and all through the land,
Investors were worried, about their portfolios at hand.
The year had been rough, with markets in a downturn,
Many had lost money, their confidence now worn down.
But despite the challenges, they remain steadfast and true,
determined to bounce back, and see their investment through.
They look to the future, with long term plan in mind,
and sought out and opportunities, to help their portfolios unwind.
They diversify their holdings, and stayed disciplined too,
working hard to rebuild – and see their investments through..
As the night grew longer, and sent it took flight,
investors all dreamed of a better year insight.
With hard work and determination, they would bounce back strong,
and reap the rewards, of a well-managed portfolio all year long.
So happy Christmas, and a prosperous new year,
May your investments thrive and bring you good cheer!"
I have also included a piece from our CIBC Economics Team entitled "Noisy signals"
This will be our last market update for 2022.
I would like to say thank you to all of our clients. We are grateful for the opportunity to help with your finances and appreciate the trust you have placed in us.
As always if you have any questions please feel free to give us a call anytime.
Have a great weekend and happy holidays.
Milan