Take-Aways From a Class About AI

During the past 3.5 years, I have used AI and taught about a dozen classes and webinars about AI use to both professional and consumer audiences. I also like to attend programs about AI to learn more myself. Below are eight take-aways from a recent AI class that I attended:

AI is Not Going Away- The genie is out of bottle, so to speak. AI is not going anywhere. Job security is a big concern but the biggest issue is not losing a job to AI, but losing a job to a person who knows how to use AI. There will continue to be less human interaction for business transactions. If people don’t get on board, they will be locked out.

 

The Two Sides of AI- AI can be both awe-full (i.e., a deep amazement of something that is very grand or powerful) and awful (i.e., very bad, ugly, or unpleasant). On the positive side, AI use enhances productivity and is like having a personal assistant. AI concerns include impacts on water and electricity and misuse by bad actors that program AI to do bad things.

 

AI Improvements- When the generative AI program ChatGPT launched in November 22, it was basically a one-way experience. Users posted a query or directions to create something via a prompt and received a response. Flash forward to today and AI is holding conversations with its users, often suggesting extensions of the content that was initially requested.

 

Sobering Comparison- The class presenter compared the potential for AI misuse to another frightening discovery, the creation and use of the atomic bomb during World War II. Both have the potential for severe consequences if misused.

 

AI Characteristics- Users need to know that AI can hallucinate. This is where it produces content that seems well-written but is incorrect. In addition, AI output may contain biases such as racism, agism, and misogyny. Therefore, AI content must always be reviewed by a subject matter expert. AI also tends to be sycophantic and agree with what others have said, instead of offering challenges.

 

AI Availability- Unlike human workers, AI is available 24/7/365. It never takes vacations or retires. Some free AI platforms cut users off for a day or so after excessive use within a short period of time. Some people like AI (vs. a human agent) for financial questions because they don’t need to feel ashamed to ask a “dumb question.”

 

AI Summaries- AI can be used to summarize books and articles. Just include in the prompt the link for a specific publication.  AI can also be used to summarize email exchanges and online Zoom calls (with meeting notes). Some people also use AI for medical research so they can have a more informed interaction with their doctor.

 

Other AI Uses- AI uses that were mentioned include 1. Providing data about people and searching for an obituary to find out if they died, 2. Creating recipes from food on hand, 3. Summarizing a book, play, or movie, 4. Using AI as a companion to stimulate conversation (AI will respond and ask you questions), 5. Creating letters, emails, and poems for personal or professional use, and 6. Creating personalized graphics like the one for me above.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.