By Kelvin Lee, Alonso Munoz
Artificial intelligence (AI), Innovation, machine learning, and language models: we certainly have entered a new era of technological advancement and development. Over the past couple of weeks, OpenAI has opened the floodgates into the world of machine learning and AI. Anyone with access to the internet and a pulse has heard of their ChatGPT, with the world of techies and finance types crowding social mediums to express their opinions on AI’s corporate beneficiaries, future, and downfalls.
The company responsible for this shiny innovation, Open AI, is already revolutionizing the way we live, work, and interact with the world around us. From healthcare to finance, education to transportation, there’s seemingly no limitation in its applicability. AI, specifically OpenAI’s chatbot, is an outsourced brain with only sophistication and data being the hurdle. As AI models continue to train on the billions of terabytes of information, it’s only a matter of time (and money) until it can operate more efficiently than we can. Unlike humans, who have a limited cognitive ability to learn and process information, AI algorithms are capable of continuous learning. As AI algorithms are fed more data, they become more accurate and capable. To show you the interest and global hype over ChatGPT, the following is a snapshot of the website when we attempted to log onto our ChatGPT portal:
So how does this all work? AI algorithms work as an advanced query and data processor. It sorts through information and interprets it in a useful way for the user. AI is so proficient in its interpretation that it’s able to competently answer questions in traditionally complex fields. It may not be long before AI programs can write tailored legal letters and contracts or potentially diagnose medical patients and recommend treatments. Meta Platforms, Inc (META) uses its large AI models to review images and posts for content moderation. Buzzfeed uses chatbots to write articles. ChatGPT, the most sophisticated chatbot, is already helping marketing and sales department with content creation, realtors with property descriptions, and college students with their essays. We’re not alone in seeing the potential for this technology, Microsoft (MSFT) this month announced a $10 billion multiyear investment in OpenAI. Much like how the industrial revolution transformed blue collar work, AI has the capability to automate white collar jobs.
The engineers developing AI are already using this capability to further their own work, using software to recommend lines of codes and solutions in their programming. AI is helping build AI, and that self-productive and efficient cycle produces exponential growth
. Technological advancements drive modern society. Our tools become smarter, we become more efficient, and as a result, we create even better tools. AI is simply that better tool. Just look at how already the internet and smartphones have a ubiquitous influence in our day to day. We are truly living life much different than our peers 30 years ago, and in another 30 years the results of innovation will likely again shape how we live to a degree unrecognizable by today’s standards.
Disclosure: Both Meta Platforms, Inc (META) and Microsoft Corp (MSFT) are constituents in Hamilton Capital Partners, LLC’s Flagship Portfolio.
To contact the author of this story:
Kelvin Lee at kelvin@hamiltoncapllc.com
To contact the editor responsible for this story:
Alonso Munoz at alonso@hamiltoncapllc.com
