ChatGPT had startling response when it was asked what a normal person should do to become rich
Using ChatGPT for things that seem wildly out of its realm is normal, like asking it about ways to get rich. But there is a chance it could start acting as a personal financial advisor would, and the implications of that are shocking.
While I tend to ask my AI things to scare myself into a health anxiety attack, Steven Bartlett is more future orientated.
Because when he sat down with passive income expert JL Collins on his The Diary Of A CEO podcast to discuss the 'biggest lies of investing', he wanted to compare something.
The American author - whose book The Simple Path to Wealth, reveals the power of small savings and investing in the stock market to gradually build wealth – has seen much success.
Advert
But to figure out if Collins’ advice was one-of-a-kind, Bartlett thought to ask ChatGPT what 'a normal person' needs to do to become 'financially free', and the answer was similar.
Bartlett wrote for his prompt: "I'm a normal person who earns $50,000 a year. I want to be financially free in the future.
"Give me a one-sentence answer based on all of the wisdom in the world taken from every expert in investing ever."
He first asked Collins what his advice would be, to which he replied: "Avoid debt. Live on less than you earn, and invest in surplus."
Bartlett then said that ChatGPT responded with the following advice: "Focus on saving and consistently invest in low cost broad based index funds like the S&P 500 while living below your means and allowing compounding to work over time."
He then asked a 'very broad' follow-up question, which was: "How do I earn more?"
"Develop your skills," Collins responded, before the Dragons' Den star added: "It said, to earn more, focus on developing high-demand skills.
"Seek opportunities for career advancement, explore side households, or invest in assets that generate passive income like real estate or dividends."
As for what 'high-demand skills' could mean in the future with AI, Collins said that programming used to be a very sought-after skill, but, based on 'what he understands in the age of AI', that doesn't seem to be the case anymore. He also joked that the AI chatbot had seemingly 'mined his book'.
It comes after OpenAI CEO Sam Altman said that job displacement is what worries him most.
"I'm confident that a lot of current customer support that happens over a phone or computer, those people will lose their jobs, and that'll be better done by an AI," he said on The Tucker Carlson Show.
"Someone told me recently that the historical average is about 50 per cent of jobs significantly change.
"Maybe they don't totally go away, but significantly change every 75 years on average.
"My controversial take would be that this is going to be like a punctuated equilibria moment where a lot of that will happen in a short period of time," he said.
"But if we zoom out, it's not going to be dramatically different than the historical rate."
Topics: AI, Artificial Intelligence, ChatGPT, Technology
Anish Vij