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- The Borrow Smart Chronicles - AI and YOU
In the midst of chaos,
there is also opportunity."
Weekly Spotlight: The Coming Impact of AI
We hear about it constantly: AI is going to eat up our world. Most experts feel that 50% to 90% of our daily tasks will be impacted by AI. The AI affirms that. Ask ChatGPT or Bard and they’ll explain in clear terms the shift that is coming.
My daughter is a high school senior and using Perplexity and Microsoft Copilot she isn’t getting work done faster, she’s getting it done with a depth she said wasn’t possible a year ago. My son uses it for investment banking case study reviews and data analysis. The more I use it the more it feels like a familiar mentor that is there to quickly get me thinking out of the box on a topic because they have a wider range of experience on many subjects. It’s incredible at organizing information in a way that makes it easier for me to get work done.
We are already at new levels of productivity. Jamie Dimon says' We’ll move to a 3-day work week in the future, and that seems possible. I implore you to explore it… Use Bard, Copilot or ChatGPT and just play so you start to get a feel for how it will impact our seen and unseen lives.
we have been becoming more productive
that’s about to expand exponentially and grow our economy
in ways we haven’t imagined yet
I asked Chat GPT to chart for me the areas of impact and how much those areas would be impacted - Routine Tasks, Data Analysis, and Personalized Services are bigly impacted.
a BORROW SMART CONCEPT
Financial Problems can be solved the Asset and Liability Management
I have been training a ChatGPT around Borrow Smart. Using my book, articles I’ve written, events we teach, and more. It’s getting smarter and able to assemble interesting ideas.
Here is a prompt shared by Trevor Hammond and John Thompson as they were asking about problems that a financial planner would solve and how a liability advisor might approach those same problems.
It’s not perfect, but it gets you thinking differently.
from the Borrow Smart GPT Engine
LIABILITIES
What’s Happening?
more consumers are missing mortgage payments
and higher rates lead to more of those coming in the future
fortunately most debt is fixed in our country
but there is more and more of it
you can reduce interest but it costs you money now
more people are paying points than ever before
some states seems to be very point friendly
the government can pay points in a way, but they just keep making more debt/money
REAL ESTATE
What’s Happening?
consumer sentiment is still very sour
the landscape has really changed for rent versus buy
inventory simply doesn’t come to the rescue
and that make home ownership more difficult
as does higher prices
means fewer buyers competing
in the end real estate is almost always financed so higher rates hurt returns
“Money flows like water, and like water, it can nourish or erode. Find balance, and it becomes a path to wisdom, not just wealth."
ASSETS
What’s Happening?
inflation is coming down
but consumer are making more per hour
stock investors are still happy
yet we are back at all time bubble highs
those with investments continue to outperform
“In the garden of life, the smallest seed of kindness you plant today can bloom into a forest of impact tomorrow, touching souls you may never meet.”
ON BEING HUMAN
What’s Worth Sharing?
“Life is simple.
Everything happens for you, not to you.
Everything happens at exactly the right moment,
neither too soon nor too late. You don’t have to like it….
It’s just easier if you do.”
DOPAMEMES
And Other Inspirations…
I love it… teach people how to think!
This is utterly brilliant. A student accuses @jk_rowling of being transphobic. This teacher skilfully dissects the claim and challenges it by asking questions.
He teaches not what to think, but how to think critically.
Watch until the end.
You see the epiphany in real-time.— Lee Harris (@addicted2newz)
8:50 AM • Feb 3, 2024
A video analytics tool to monitor employee and customer actions in real-time
The company, NeuroSpot, claims it can monitor customer traffic, analyze visitor behavior, evaluate staff performance, and satisfaction levels
Freaky.
— Allen T (@Mr_AllenT)
11:40 PM • Feb 1, 2024
Is the above our future, where robotics turns us into robots?
“Borrowing money for a house is not merely a financial transaction; it's an investment in a foundation for dreams, a canvas for memories, and a testament to the belief that stability and growth often begin with the courage to take a step forward into a place you can truly call home.”
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