00:00.00

wongga

Good morning investment community this is Garret Wong your host of the investing to win podcast I am by myself today in a solo podcast because I wanted to discuss Ai again now last week in last week's episode I had Carrie sove on she is. An expert in Ai she is the ai consultant for Exp Realty which is a very tech forward Realtor Brokerage platform um they've done some amazing things and it's not a surprise that you know they're embracing ai so Carrie had spoken about you know, just. How to use chat Gpt in your business. How she as a consultant can structure um an entire workflow and process I mean I would encourage you to listen to it but you know just just to summarize one point that kind of blew me away. She said you could. You know if you're a realtor and you're struggling. You could go and ask chat Gpt what is the market like right now right? because there are plugins that chat gbt can can actually have current information. It's accessing, current information on the internet. And ask chat Gpt about the current market conditions try to identify which sector of the real estate market is selling or not selling. Um, just to hedge your bets and then develop an entire basically strategy and drip campaign to target.

01:31.62

wongga

That entire sector and then come up with listing agreement or sorry listing appointment talking points objection handling the whole nine yards and then obviously the analysis that comes with it and she said that's just sort of ah a thirty second thing she recommends for her clients once a month so it really blew me away and I wanted to stimulate a discussion here to even ask you the audience. Are you using Ai have you have you looked at chat Gpt. Do you have I know I introduced my my own kids to it kids they're 1921 college and university. And it's been invaluable. Um, not to say that I'm advocating that they you know write a 750 word essay on whatever subject. But um, you know my my younger son's in it and in his programming class. It's been very helpful just to sort of see examples of different. Different programming languages different scripts. Um my older sons in nursing school right now and just to be able to research things and and I use it I use it in my business all the time and I use it more as a search engine. Ah. Coin a phrase with Carrie a search engine on steroids because I can go to Google and I mean I could use my my phishing passion here and then I could Google something about phishing or I could go to chat Gpt and it will search every single thing for me.

03:03.60

wongga

And it's been great. Um I can ask it now because of the internet um and the current information. It's accessing if there's a platform that I'm learning. Um, then I can ask for. You know the most current things if it's something on excel then I'm not quite sure I can say can you write me a formula that is going to do x y and z and it will just say sure copy and paste this and tell me exactly where to do it and all of a sudden I'm an advanced excel programmer so it's quite amazing. What I want to discuss today though is what are the implications of Ai you know today is November tenth and last weekend um openi open Ai that's the company or the platform that is responsible for chat Gpt.

03:52.99

wongga

Change their platform again. So now they're able to you can copy and paste actual images you can have a lot more data you can copy and paste into chat Gpt have it analyze it and then spit something out at you and you can keep this sort of copy paste regurgitate. Type of thing and you keep giving it instructions just as an example, um, each time you get this data back and the data that you put in is completely different and optimized from the data you you put out and or you get out rather. And there's entire companies that are sprouting up every day and the people who are in this industry. It's incredible I can't even begin to describe to you. It's incredible. What's coming out but is it scary is it too fast. Is it too soon. And again, what are those implications. Let's just talk about our kids I talked about my kids I mean there's you know 19 and 21 what about if you're listening here and you have younger children. You know, Nine Ten Eleven years old they're in middle school and you don't know that they're using chat gpt maybe to help them write an essay um are they. You know that's where I'm I think where I'm really feeling I'm not really on on board with that part of it because what is it going to do to our youth. What is it going to do for learning in the future. Um knowledge I mean we all know well not everyone. But.

05:20.58

wongga

At 52 years of age um hopefully there's some 50 year olds out there. You know we went through school without the internet you know at least in my my early years and Encyclopedia Britannica my my parents had an entire 3 shelves in our living room. Where when I wanted to do a research on an essay I had to drag one of those old dusty volumes over to the couch slam it open the smell right of those pages and look up that right look up that subject or go to the library and research it and there was something inherent in that process of research because. In my mind and even when I'm trying to train my employees. You know when you ask a question and you have to find the answer and the struggle to find that answer is more than just if somebody gives you that answer. That's how you learn right? I mean at least that's my core belief. That's how you learn right? And if you're struggling in your work your school. Whatever it might be in your business to answer that question and you're researching on how to the best way to do it then you know your subject matter right? And that's that's why you're able to go and maybe you know. Present in front of an audience in a keynote for an hour forty five minute hour 45 minute hour 45 minute hour 45 minute hour forty five minute hour 45 minutes because you know your subject as opposed to hey chat Gpt I'm going to be doing a keynotes speech this weekend on ethics and Ai can you give me some bullet points and I promise I didn't do that here.

06:55.35

wongga

And you know you get this big speech you memorize it and then there's a q and a period after and you don't know your stuff because you didn't research it somebody gave you this speech so that's where I'm kind of really seeing maybe a little bit of warning bells. Even in my own staff. You know my story. My ah property management company. You know property management is very very complex and we're starting to use Ai and I can already see it in some of my employees. You know some of the answers that are coming back on email to my our investor clients are a little bit too sophisticated. Almost I'd I'd actually like to say too much I mean if I've got a client you know who's been with us for 1012 years and all of a sudden they're getting instead of just a very short email. You know warmest regards hope your health is well these days I'd like to you know. Give my heartfelt thanks to you for being a client I mean it's just it's over the top and that's fine. It's ai so I think if you use Ai as a tool. Um, then it can structure whatever you need as long as you are using your own brain to. Kind of temper that right you you should really have the final say. Don't just copy and paste. But the title of what I wanted to talk about today is actually just ethics right? I mean what? What do we talk about with ethics. So how does that apply to ai because it's a huge debate out there right now.

08:27.66

wongga

You know I mean is it a critical consideration I don't know um, that's what I want to talk about kind of debate with myself and the audience here because I think one of the biggest things with Ai is the believability of it. So as humans. Versus machines you know, thinking terminator right now but humans are matrix humans versus machines the bias of Ai and you're like what is he talking about. Well how do you know the information that chat Gpt that it's giving you is good because. If you I mean my wife is a nurse and you know she hates it when people come in and they're like well I've already researched this on the internet I think I have this this and this ailment. Um, and so if you were to research something on Google. And it might take you fifteen Twenty twenty 5 minutes versus 30 seconds on chat Gp where is chat gp getting its information from okay from the internet the same place. However, the fifteen twenty minute research session that you just did is you looking at all of that information and. Using your judgment and brain as a human to say you know what I can see that this information is written by somebody who you know the spelling mistakes. It's not very accurate. It's probably just a blog. How many times have we seen that.

09:59.13

wongga

Um, even in in something medical I mean I have a medical background medical research background and when I want to research something quite often I'm going to go to something like pubm med and I'm going to look at peer reviewed journals on that actual that scientific subject right? because to me that's. I mean that's my background That's what I'm comfortable in versus looking at the opinion of somebody who wrote a blog who ah you know or in the editorial. That's just their opinion. Well, how do you know? chat Gpt is not taking that information into account now. You know openai maybe I'm going to get a phone call from them after they listen to this podcast and say well no, this is our algorithm and this is what they're doing and that's fine, but who's programming it that way. So that's really I mean you know computers that used to have. Back in my day when I took computer programming in high school you know garbage in garbage out was a very strong computer term and which you put in affects your output and that's what I'm worried about when we talk about bias and discrimination. How can Ai systems inherit these biases. In the training data that has been fed to them by the programmers right? And if that happens on purpose or inadvertently it's going to lead to a discriminatory outcome. Okay, so that's that's what we're talking about right? Whether you're using it as a hiring tool.

11:29.47

wongga

Or even I mean they're getting into facial recognition right? I mean we're here this is right now. It's a little bit scary I think it's it's good in a really big sense I don't want the listeners to think that I'm going off the other side because I'm not I think Ai is amazing. We're going to be incorporating it into many of our businesses. I think as a tool. It's wonderful I just worry where are we going? Um, if we use Ai like there's plugins for everything like every platform that we're using every tech platform. There's a little ai button there to help you out for writing. Um I'm sure gmail and out. Outlook have that right now already or if they don't there's a plugin available for it and in six months twelve months eighteen months even in property management if 1 of my employees all they're using is ai to write their. And solve their property management problems in the company for our clients are is anybody going to be able to write an email on their own independently I mean it's a muscle right? The brain's a muscle I mean creative writing. All of a sudden you're using Ai to write everything for you. So that's that's kind of where I'm I'm worried about that. Um, but so that's sort of ethics there and how do we build trust in the ai system. Why is ai crucial or ethics in ai crucial for.

12:57.99

wongga

You know the sustainability of technology in this industry and advancement. So I think really, it's with the garbage in garbage out point that I brought up there. It really comes down to the developers I think which is making sure. And I'm just saying this as talking points inclusive design when you have Ai development teams. It has to be diverse. The team has to be diverse in their thinking and how they're programming it to make sure that it might be harder to program their search ai. Guess I'm going to say algorithms or I don't know what you call it scripts programming language um to be more diverse to to look at more things right? It's very easy to have it a shorter ah programming script and and code to give back and result in. Something that doesn't search enough far enough reaching far enough across the internet to give the proper information back to the user I think that's that's what we're talking about here so those teams programming teams have to make sure they put the time and effort. And to developing those scripts and algorithms to reduce bias and then let's talk about regulation because there's a lot of things going on right now that I'm even seeing in the news today and who knows what it's going to be like and that's the regulation of Ai and.

14:31.71

wongga

I mean what is that framework going to look like. Are there going to be policies and procedures and regulations in guiding ethical ai development. Um I don't know about the existing guidelines or principles I'm not I don't want to sort of get into that here I'm just sort of doing a solo podcast to. Hopefully make you just think you know are you using ai? are you planning on using Ai and if you do incorporate it into your job your life your business. What is that going to do long-term to the way you view things and the way you do things. Are you going to stop. Writing emails on your own and you're always going to rely and hit that ai button for suggestions. What does it mean for our future. So I'd encourage all of you. Um, if you aren't using ai absolutely go on chat Gpt. It's life changing. It's amazing but stay informed. Um. Keep your ear out for you know the topic of Ai ethics and I think collectively as humans. It's our responsibility to make sure that the regulations are going to be there. So the information that's coming back at us is not biased. So. Anyways, that's all I had to say today. Um I thought it was important enough after Carrie came on last week just to sort of say ai is great but hang on what's the other side of it. So hope you enjoyed this discussion Garrett talking to himself again and we'll catch you next episode.

16:05.72

wongga

Thanks for listening.